Truist Financial Corp Buys 1,272 Shares of TransDigm Group Incorporated (NYSE:TDG)

Truist Financial Corp boosted its position in TransDigm Group Incorporated (NYSE:TDG) by 17.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,434 shares of the aerospace company’s stock after acquiring an additional 1,272 shares during the period. Truist Financial Corp’s holdings in TransDigm Group were worth $10,776,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Brevan Howard Capital Management LP bought a new position in shares of TransDigm Group in the fourth quarter worth $1,909,000. Wealth Enhancement Advisory Services LLC grew its stake in TransDigm Group by 17.0% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 3,898 shares of the aerospace company’s stock worth $4,980,000 after purchasing an additional 567 shares during the period. Envestnet Portfolio Solutions Inc. increased its stake in shares of TransDigm Group by 26.0% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 3,826 shares of the aerospace company’s stock worth $4,888,000 after acquiring an additional 789 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of TransDigm Group by 0.9% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 131,149 shares of the aerospace company’s stock valued at $161,523,000 after purchasing an additional 1,142 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its stake in TransDigm Group by 35.7% during the first quarter. BNP Paribas Financial Markets now owns 70,881 shares of the aerospace company’s stock valued at $87,297,000 after buying an additional 18,655 shares during the last quarter. 95.78% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Jefferies Financial Group cut their target price on TransDigm Group from $1,625.00 to $1,515.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th. Susquehanna raised their price target on TransDigm Group from $1,200.00 to $1,250.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Truist Financial boosted their price objective on TransDigm Group from $1,425.00 to $1,483.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of TransDigm Group from $1,524.00 to $1,577.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Northcoast Research initiated coverage on shares of TransDigm Group in a report on Thursday, August 1st. They set a “neutral” rating on the stock. Eight research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, TransDigm Group presently has an average rating of “Moderate Buy” and an average target price of $1,441.35.

TransDigm Group Price Performance

NYSE:TDG opened at $1,355.46 on Friday. The company has a fifty day moving average price of $1,326.86 and a 200 day moving average price of $1,292.36. The stock has a market cap of $76.05 billion, a P/E ratio of 53.77, a PEG ratio of 1.87 and a beta of 1.43. TransDigm Group Incorporated has a one year low of $811.42 and a one year high of $1,451.32.

TransDigm Group (NYSE:TDG) last released its quarterly earnings data on Tuesday, August 6th. The aerospace company reported $9.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.77 by $1.23. TransDigm Group had a negative return on equity of 66.70% and a net margin of 21.83%. The firm had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same period in the prior year, the company posted $6.55 earnings per share. The business’s revenue for the quarter was up 17.3% compared to the same quarter last year. As a group, equities research analysts anticipate that TransDigm Group Incorporated will post 30.7 EPS for the current year.

TransDigm Group Increases Dividend

The firm also recently announced a dividend, which will be paid on Friday, October 18th. Investors of record on Friday, October 4th will be issued a dividend of $75.00 per share. This is a boost from TransDigm Group’s previous dividend of $32.50. The ex-dividend date is Friday, October 4th.

Insider Buying and Selling

In related news, CEO Kevin M. Stein sold 10,000 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $1,228.24, for a total value of $12,282,400.00. Following the transaction, the chief executive officer now directly owns 8,158 shares in the company, valued at approximately $10,019,981.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other TransDigm Group news, CEO Kevin M. Stein sold 10,000 shares of TransDigm Group stock in a transaction on Monday, August 12th. The stock was sold at an average price of $1,228.24, for a total value of $12,282,400.00. Following the completion of the transaction, the chief executive officer now directly owns 8,158 shares of the company’s stock, valued at $10,019,981.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director W Nicholas Howley sold 5,073 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $1,242.30, for a total value of $6,302,187.90. Following the sale, the director now directly owns 21,548 shares in the company, valued at approximately $26,769,080.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,545 shares of company stock worth $46,454,828. Insiders own 4.96% of the company’s stock.

About TransDigm Group

TransDigm Group Incorporated designs, produces, and supplies aircraft components in the United States and internationally. The Power & Control segment offers mechanical/electro-mechanical actuators and controls, ignition systems and engine technology, specialized pumps and valves, power conditioning devices, specialized AC/DC electric motors and generators, batteries and chargers, databus and power controls, sensor products, switches and relay panels, hoists, winches and lifting devices, and cargo loading and handling systems.