State of New Jersey Common Pension Fund D Decreases Stock Position in TransDigm Group Incorporated (NYSE:TDG)

State of New Jersey Common Pension Fund D decreased its holdings in shares of TransDigm Group Incorporated (NYSE:TDG) by 35.5% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 20,547 shares of the aerospace company’s stock after selling 11,286 shares during the period. State of New Jersey Common Pension Fund D’s holdings in TransDigm Group were worth $26,251,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of TDG. Fortitude Family Office LLC increased its position in shares of TransDigm Group by 283.3% in the 2nd quarter. Fortitude Family Office LLC now owns 23 shares of the aerospace company’s stock valued at $29,000 after acquiring an additional 17 shares during the period. ORG Partners LLC purchased a new stake in TransDigm Group during the 1st quarter valued at about $30,000. Central Pacific Bank Trust Division acquired a new position in shares of TransDigm Group in the first quarter valued at about $39,000. Frazier Financial Advisors LLC purchased a new position in shares of TransDigm Group in the fourth quarter worth about $43,000. Finally, Crewe Advisors LLC acquired a new stake in shares of TransDigm Group during the first quarter worth about $46,000. Institutional investors and hedge funds own 95.78% of the company’s stock.

TransDigm Group Stock Up 1.5 %

TDG opened at $1,348.03 on Friday. The firm’s fifty day simple moving average is $1,280.02 and its two-hundred day simple moving average is $1,266.51. TransDigm Group Incorporated has a 52-week low of $802.46 and a 52-week high of $1,380.83. The company has a market cap of $75.64 billion, a price-to-earnings ratio of 53.47, a PEG ratio of 2.04 and a beta of 1.42.

TransDigm Group (NYSE:TDG) last issued its quarterly earnings results on Tuesday, August 6th. The aerospace company reported $9.00 earnings per share for the quarter, beating analysts’ consensus estimates of $7.77 by $1.23. TransDigm Group had a net margin of 21.83% and a negative return on equity of 66.70%. The firm had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same period last year, the company posted $6.55 EPS. TransDigm Group’s quarterly revenue was up 17.3% compared to the same quarter last year. On average, research analysts forecast that TransDigm Group Incorporated will post 30.69 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Truist Financial increased their price target on shares of TransDigm Group from $1,425.00 to $1,483.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. JPMorgan Chase & Co. raised their target price on shares of TransDigm Group from $1,350.00 to $1,435.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft increased their price target on TransDigm Group from $1,435.00 to $1,524.00 and gave the stock a “buy” rating in a research report on Thursday, June 20th. Wells Fargo & Company reduced their price objective on TransDigm Group from $1,390.00 to $1,350.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 7th. Finally, UBS Group lowered their target price on TransDigm Group from $1,466.00 to $1,423.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Eight investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,438.24.

Insider Activity

In related news, CEO Kevin M. Stein sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $1,248.60, for a total transaction of $12,486,000.00. Following the completion of the sale, the chief executive officer now directly owns 8,158 shares in the company, valued at $10,186,078.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other TransDigm Group news, CEO Kevin M. Stein sold 10,000 shares of TransDigm Group stock in a transaction on Friday, July 12th. The shares were sold at an average price of $1,248.60, for a total transaction of $12,486,000.00. Following the sale, the chief executive officer now owns 8,158 shares of the company’s stock, valued at approximately $10,186,078.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Joel Reiss sold 3,000 shares of the company’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $1,241.60, for a total transaction of $3,724,800.00. Following the sale, the chief operating officer now directly owns 3,600 shares of the company’s stock, valued at approximately $4,469,760. The disclosure for this sale can be found here. Insiders have sold a total of 28,073 shares of company stock worth $34,795,388 over the last quarter. 4.96% of the stock is currently owned by corporate insiders.

TransDigm Group Profile

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.