Candriam Luxembourg S.C.A. Raises Stake in TransDigm Group Inc. (TDG)
Candriam Luxembourg S.C.A. boosted its stake in TransDigm Group Inc. (NYSE:TDG) by 54.3% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 3,599 shares of the company’s stock after buying an additional 1,266 shares during the period. Candriam Luxembourg S.C.A.’s holdings in TransDigm Group were worth $949,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Meiji Yasuda Asset Management Co Ltd. boosted its position in TransDigm Group by 1.9% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 7,079 shares of the company’s stock valued at $1,560,000 after buying an additional 133 shares during the period. Ithaka Group LLC boosted its position in TransDigm Group by 1.4% in the first quarter. Ithaka Group LLC now owns 80,689 shares of the company’s stock valued at $17,779,000 after buying an additional 1,092 shares during the period. Aviva PLC boosted its position in TransDigm Group by 8.7% in the first quarter. Aviva PLC now owns 36,970 shares of the company’s stock valued at $8,146,000 after buying an additional 2,967 shares during the period. Picton Mahoney Asset Management purchased a new position in TransDigm Group during the first quarter valued at approximately $507,000. Finally, M&T Bank Corp boosted its position in TransDigm Group by 6.6% in the first quarter. M&T Bank Corp now owns 14,025 shares of the company’s stock valued at $3,091,000 after buying an additional 865 shares during the period. Hedge funds and other institutional investors own 87.73% of the company’s stock.
Shares of TransDigm Group Inc. (NYSE:TDG) traded down 1.61% during midday trading on Friday, hitting $280.90. 1,006,949 shares of the company traded hands. The stock has a market capitalization of $14.96 billion, a P/E ratio of 29.71 and a beta of 0.72. The stock’s 50-day moving average is $286.00 and its 200 day moving average is $261.16. TransDigm Group Inc. has a 12-month low of $180.76 and a 12-month high of $294.38.
TransDigm Group (NYSE:TDG) last announced its earnings results on Tuesday, August 9th. The company reported $3.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.82 by $0.27. TransDigm Group had a net margin of 17.25% and a negative return on equity of 62.15%. The company earned $797.70 million during the quarter, compared to the consensus estimate of $805.23 million. During the same period in the previous year, the firm posted $2.26 earnings per share. The company’s revenue was up 15.4% on a year-over-year basis. On average, analysts expect that TransDigm Group Inc. will post $11.39 earnings per share for the current year.
TDG has been the subject of several recent analyst reports. Canaccord Genuity reiterated a “buy” rating and issued a $280.00 price objective on shares of TransDigm Group in a report on Tuesday, June 21st. KeyCorp upgraded shares of TransDigm Group from a “sector weight” rating to an “overweight” rating in a report on Wednesday, June 29th. Barclays PLC increased their price objective on shares of TransDigm Group from $300.00 to $310.00 and gave the company an “overweight” rating in a report on Wednesday, August 10th. Jefferies Group initiated coverage on shares of TransDigm Group in a report on Thursday, September 22nd. They issued a “buy” rating and a $340.00 price objective for the company. Finally, Zacks Investment Research cut shares of TransDigm Group from a “hold” rating to a “sell” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $288.18.
In other TransDigm Group news, insider Peter Palmer sold 20,500 shares of the business’s stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $281.84, for a total value of $5,777,720.00. Following the completion of the transaction, the insider now directly owns 14,000 shares of the company’s stock, valued at $3,945,760. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Bernt G. Iversen II sold 10,000 shares of the business’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $278.81, for a total transaction of $2,788,100.00. Following the completion of the transaction, the insider now directly owns 15,010 shares of the company’s stock, valued at $4,184,938.10. The disclosure for this sale can be found here. 9.30% of the stock is currently owned by company insiders.
TransDigm Group Company Profile
TransDigm Group Incorporated (TransDigm) is a designer, producer and supplier of engineered aircraft components for use on commercial and military aircraft. The Company operates through three segments: Power & Control, Airframe and Non-aviation. Its Power & Control segment includes operations that primarily develop, produce and market systems and components that provide power to or control power of the aircraft utilizing electronic, fluid, power and mechanical motion control technologies.
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