TransDigm Group (NYSE:TDG) Shares Gap Down – What’s Next?

Shares of TransDigm Group Incorporated (NYSE:TDG) gapped down before the market opened on Friday . The stock had previously closed at $1,419.09, but opened at $1,356.00. TransDigm Group shares last traded at $1,353.06, with a volume of 23,499 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TDG. JPMorgan Chase & Co. increased their price target 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. Wells Fargo & Company cut their price target on shares of TransDigm Group from $1,390.00 to $1,350.00 and set an “equal weight” rating for the company in a report on Wednesday, August 7th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $1,500.00 price target on shares of TransDigm Group in a report on Wednesday, August 7th. Susquehanna lifted their price objective on TransDigm Group from $1,200.00 to $1,250.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Finally, Truist Financial boosted their target price on TransDigm Group from $1,425.00 to $1,483.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Eight research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,441.35.

TransDigm Group Trading Up 0.8 %

The stock has a market capitalization of $76.05 billion, a P/E ratio of 53.77, a price-to-earnings-growth ratio of 1.87 and a beta of 1.43. The stock’s fifty day moving average price is $1,326.86 and its two-hundred day moving average price is $1,292.36.

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

TransDigm Group Increases Dividend

The business also recently declared a dividend, which will be paid on Friday, October 18th. Shareholders of record on Friday, October 4th will be paid a $75.00 dividend. 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 at TransDigm Group

In other news, COO Joel Reiss sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $1,241.60, for a total value of $3,724,800.00. Following the transaction, the chief operating officer now owns 3,600 shares in the company, valued at approximately $4,469,760. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Kevin M. Stein sold 10,000 shares of TransDigm Group 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 value of $12,486,000.00. Following the sale, the chief executive officer now directly owns 8,158 shares in the company, valued at approximately $10,186,078.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Joel Reiss sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $1,241.60, for a total value of $3,724,800.00. Following the transaction, the chief operating officer now owns 3,600 shares of the company’s stock, valued at approximately $4,469,760. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,545 shares of company stock worth $46,454,828. 4.96% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in TDG. Envestnet Asset Management Inc. increased its position in shares of TransDigm Group by 3.7% during the fourth quarter. Envestnet Asset Management Inc. now owns 65,329 shares of the aerospace company’s stock valued at $66,087,000 after buying an additional 2,345 shares during the period. Morningstar Investment Services LLC bought a new position in shares of TransDigm Group in the 4th quarter worth approximately $243,000. Verition Fund Management LLC lifted its stake in shares of TransDigm Group by 733.7% in the 4th quarter. Verition Fund Management LLC now owns 6,111 shares of the aerospace company’s stock valued at $6,182,000 after purchasing an additional 5,378 shares during the period. State of Tennessee Treasury Department boosted its position in shares of TransDigm Group by 12.3% during the fourth quarter. State of Tennessee Treasury Department now owns 36,225 shares of the aerospace company’s stock valued at $36,645,000 after purchasing an additional 3,954 shares in the last quarter. Finally, Symmetry Investments LP grew its stake in TransDigm Group by 62.8% in the fourth quarter. Symmetry Investments LP now owns 22,632 shares of the aerospace company’s stock worth $22,895,000 after purchasing an additional 8,731 shares during the period. 95.78% of the stock is owned by hedge funds and other institutional investors.

TransDigm Group Company 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.