Public Employees Retirement Association of Colorado Sells 442 Shares of TransDigm Group Inc. (TDG)
Public Employees Retirement Association of Colorado reduced its position in shares of TransDigm Group Inc. (NYSE:TDG) by 0.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 175,561 shares of the company’s stock after selling 442 shares during the period. Public Employees Retirement Association of Colorado’s holdings in TransDigm Group were worth $46,294,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of the stock. Aperio Group LLC raised its position in shares of TransDigm Group by 6.0% in the first quarter. Aperio Group LLC now owns 21,557 shares of the company’s stock worth $4,750,000 after buying an additional 1,227 shares during the period. Pacad Investment Ltd. acquired a new position in shares of TransDigm Group during the first quarter worth approximately $397,000. Prudential Financial Inc. raised its position in shares of TransDigm Group by 6.4% in the first quarter. Prudential Financial Inc. now owns 3,473 shares of the company’s stock worth $765,000 after buying an additional 210 shares during the period. BlackRock Inc. raised its position in shares of TransDigm Group by 78.5% in the first quarter. BlackRock Inc. now owns 81,315 shares of the company’s stock worth $17,916,000 after buying an additional 35,748 shares during the period. Finally, BlackRock Group LTD raised its position in shares of TransDigm Group by 9.9% in the first quarter. BlackRock Group LTD now owns 331,393 shares of the company’s stock worth $73,020,000 after buying an additional 29,890 shares during the period. Hedge funds and other institutional investors own 87.73% of the company’s stock.
TransDigm Group Inc. (NYSE:TDG) traded down 1.61% during midday trading on Friday, hitting $280.90. 1,006,936 shares of the stock 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. TransDigm Group Inc. has a 52 week low of $180.76 and a 52 week high of $294.38. The stock’s 50-day moving average price is $286.12 and its 200-day moving average price is $260.75.
TransDigm Group (NYSE:TDG) last announced its quarterly earnings results on Tuesday, August 9th. The company reported $3.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.82 by $0.27. The business earned $797.70 million during the quarter, compared to analysts’ expectations of $805.23 million. TransDigm Group had a net margin of 17.25% and a negative return on equity of 62.15%. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.26 EPS. Equities research analysts expect that TransDigm Group Inc. will post $11.39 EPS for the current fiscal year.
A number of brokerages recently weighed in on TDG. Canaccord Genuity reissued a “buy” rating and set a $280.00 target price on shares of TransDigm Group in a research note on Tuesday, June 21st. KeyCorp raised shares of TransDigm Group from a “sector weight” rating to an “overweight” rating in a research note on Wednesday, June 29th. Barclays PLC lifted their target price on shares of TransDigm Group from $300.00 to $310.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 10th. Jefferies Group began coverage on shares of TransDigm Group in a research note on Thursday, September 22nd. They set a “buy” rating and a $340.00 target price for the company. Finally, Zacks Investment Research downgraded shares of TransDigm Group from a “hold” rating to a “sell” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company. TransDigm Group has a consensus rating of “Hold” and a consensus price target of $288.18.
In other TransDigm Group news, insider Bernt G. Iversen II sold 10,000 shares of the stock in a transaction on Tuesday, August 30th. The shares were sold at an average price of $287.16, for a total transaction of $2,871,600.00. Following the completion of the sale, the insider now owns 15,010 shares of the company’s stock, valued at approximately $4,310,271.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Peter Palmer sold 20,500 shares of the stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $281.84, for a total transaction of $5,777,720.00. Following the sale, the insider now directly owns 14,000 shares of the company’s stock, valued at approximately $3,945,760. The disclosure for this sale can be found here. Company insiders own 9.30% of the company’s stock.
About TransDigm Group
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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