Canaccord Genuity Reiterates Buy Rating for Transdigm Group Incorporated (TDG)
Transdigm Group Incorporated (NYSE:TDG)‘s stock had its “buy” rating reaffirmed by equities research analysts at Canaccord Genuity in a report released on Wednesday. They currently have a $330.00 price objective on the aerospace company’s stock, up from their prior price objective of $300.00. Canaccord Genuity’s price target suggests a potential upside of 15.51% from the company’s previous close.
TDG has been the subject of several other reports. Zacks Investment Research lowered Transdigm Group from a “buy” rating to a “sell” rating in a research report on Monday, April 17th. Jefferies Group LLC reaffirmed a “buy” rating and set a $298.00 target price on shares of Transdigm Group in a research report on Monday, May 8th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $316.00 target price on shares of Transdigm Group in a research report on Tuesday, April 18th. Deutsche Bank AG reaffirmed a “buy” rating and set a $305.00 target price on shares of Transdigm Group in a research report on Tuesday, June 13th. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $300.00 target price (up from $262.00) on shares of Transdigm Group in a research report on Tuesday, June 6th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $289.55.
Transdigm Group (NYSE TDG) opened at 285.70 on Wednesday. The firm’s 50-day moving average is $274.42 and its 200-day moving average is $250.77. Transdigm Group has a 52-week low of $203.72 and a 52-week high of $295.00. The company has a market capitalization of $14.86 billion, a PE ratio of 32.42 and a beta of 0.56.
Transdigm Group (NYSE:TDG) last announced its earnings results on Tuesday, August 8th. The aerospace company reported $3.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.98 by $0.32. Transdigm Group had a negative return on equity of 47.38% and a net margin of 14.10%. The firm had revenue of $907.67 million during the quarter, compared to analyst estimates of $903.99 million. During the same period last year, the firm posted $3.09 EPS. The business’s revenue was up 13.8% compared to the same quarter last year. On average, equities research analysts forecast that Transdigm Group will post $12.29 EPS for the current year.
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In other Transdigm Group news, insider Jorge Valladares sold 6,000 shares of the firm’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $265.53, for a total value of $1,593,180.00. Following the completion of the transaction, the insider now owns 15,000 shares in the company, valued at approximately $3,982,950. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders sold 18,000 shares of company stock valued at $4,952,017. 10.52% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Transdigm Group by 1.6% in the first quarter. Vanguard Group Inc. now owns 4,747,472 shares of the aerospace company’s stock valued at $1,045,202,000 after buying an additional 76,623 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Transdigm Group by 16.0% in the first quarter. Principal Financial Group Inc. now owns 2,651,540 shares of the aerospace company’s stock valued at $583,763,000 after buying an additional 366,443 shares in the last quarter. State Street Corp increased its position in shares of Transdigm Group by 1.7% in the first quarter. State Street Corp now owns 2,229,338 shares of the aerospace company’s stock valued at $490,796,000 after buying an additional 36,321 shares in the last quarter. Morgan Stanley increased its position in shares of Transdigm Group by 37.7% in the first quarter. Morgan Stanley now owns 1,408,740 shares of the aerospace company’s stock valued at $310,149,000 after buying an additional 385,775 shares in the last quarter. Finally, Blue Ridge Capital L.L.C. increased its position in shares of Transdigm Group by 18.1% in the first quarter. Blue Ridge Capital L.L.C. now owns 1,390,400 shares of the aerospace company’s stock valued at $306,110,000 after buying an additional 212,800 shares in the last quarter.
About Transdigm Group
TransDigm Group Incorporated is a designer, producer and supplier of engineered aircraft components for use on commercial and military aircraft in service. The Company operates through three segments: Power & Control, Airframe and Non-aviation. The 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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