Allspring Global Investments Holdings LLC Sells 766 Shares of Transdigm Group Incorporated (NYSE:TDG)

Allspring Global Investments Holdings LLC cut its stake in shares of Transdigm Group Incorporated (NYSE:TDG - Free Report) by 5.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,147 shares of the aerospace company's stock after selling 766 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Transdigm Group were worth $19,770,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Bruce G. Allen Investments LLC increased its holdings in shares of Transdigm Group by 111.1% during the first quarter. Bruce G. Allen Investments LLC now owns 19 shares of the aerospace company's stock worth $26,000 after buying an additional 10 shares in the last quarter. Park Square Financial Group LLC acquired a new position in Transdigm Group in the fourth quarter worth $32,000. Meeder Asset Management Inc. lifted its position in Transdigm Group by 210.0% during the 4th quarter. Meeder Asset Management Inc. now owns 31 shares of the aerospace company's stock worth $39,000 after buying an additional 21 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Transdigm Group in the fourth quarter worth about $77,000. Finally, CVA Family Office LLC increased its holdings in shares of Transdigm Group by 123.1% in the first quarter. CVA Family Office LLC now owns 58 shares of the aerospace company's stock valued at $80,000 after purchasing an additional 32 shares in the last quarter. Institutional investors and hedge funds own 95.78% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TDG. Wells Fargo & Company upped their target price on shares of Transdigm Group from $1,375.00 to $1,540.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. UBS Group boosted their target price on Transdigm Group from $1,451.00 to $1,645.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Wall Street Zen upgraded shares of Transdigm Group from a "hold" rating to a "buy" rating in a research report on Saturday, May 17th. Truist Financial reduced their price target on shares of Transdigm Group from $1,534.00 to $1,490.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Finally, Susquehanna boosted their target price on Transdigm Group from $1,250.00 to $1,300.00 and gave the company a "neutral" rating in a research note on Wednesday, April 2nd. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Transdigm Group has a consensus rating of "Moderate Buy" and a consensus target price of $1,545.80.

Transdigm Group Stock Up 0.7%

Shares of NYSE:TDG traded up $10.44 during midday trading on Thursday, hitting $1,522.09. The stock had a trading volume of 28,285 shares, compared to its average volume of 260,585. The company has a market cap of $85.50 billion, a P/E ratio of 51.34, a PEG ratio of 3.23 and a beta of 1.04. Transdigm Group Incorporated has a 12 month low of $1,176.31 and a 12 month high of $1,528.45. The business's 50-day simple moving average is $1,436.36 and its 200-day simple moving average is $1,361.38.

Transdigm Group (NYSE:TDG - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The aerospace company reported $9.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.83 by $0.28. Transdigm Group had a negative return on equity of 38.71% and a net margin of 21.09%. The firm had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.17 billion. During the same quarter in the prior year, the company earned $7.99 earnings per share. The business's revenue for the quarter was up 12.0% compared to the same quarter last year. As a group, equities analysts predict that Transdigm Group Incorporated will post 35.13 earnings per share for the current year.

Insider Transactions at Transdigm Group

In other Transdigm Group news, COO Joel Reiss sold 3,300 shares of the company's stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $1,321.80, for a total value of $4,361,940.00. Following the completion of the transaction, the chief operating officer directly owned 3,600 shares in the company, valued at approximately $4,758,480. This represents a 47.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robert J. Small sold 45,700 shares of Transdigm Group stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $1,425.01, for a total value of $65,122,957.00. Following the transaction, the director directly owned 88,419 shares in the company, valued at $125,997,959.19. The trade was a 34.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 142,149 shares of company stock worth $202,651,767. Corporate insiders own 4.09% of the company's stock.

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.