Bank of Nova Scotia Acquires 27,360 Shares of Transdigm Group Incorporated (NYSE:TDG)

Key Points

• Bank of Nova Scotia increased its holdings in Transdigm Group by 188.7%, acquiring an additional 27,360 shares to hold a total of 41,859 shares valued at approximately $57.9 million.
• Various hedge funds have significantly raised their stakes in Transdigm Group, with 95.78% of the stock currently owned by institutional investors.
• Analyst ratings for Transdigm Group show a consensus of twelve buy ratings and a price target uplift, with estimates as high as $1,795.00 from Citigroup.

Bank of Nova Scotia lifted its holdings in shares of Transdigm Group Incorporated (NYSE:TDG - Free Report) by 188.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,859 shares of the aerospace company's stock after purchasing an additional 27,360 shares during the period. Bank of Nova Scotia owned about 0.07% of Transdigm Group worth $57,903,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Bruce G. Allen Investments LLC raised its stake in Transdigm Group by 111.1% in the 1st quarter. Bruce G. Allen Investments LLC now owns 19 shares of the aerospace company's stock valued at $26,000 after acquiring an additional 10 shares during the period. Winch Advisory Services LLC raised its stake in Transdigm Group by 53.8% in the 1st quarter. Winch Advisory Services LLC now owns 20 shares of the aerospace company's stock valued at $28,000 after acquiring an additional 7 shares during the period. Park Square Financial Group LLC bought a new stake in Transdigm Group in the 4th quarter valued at about $32,000. Wayfinding Financial LLC bought a new stake in Transdigm Group in the 1st quarter valued at about $75,000. Finally, CVA Family Office LLC raised its stake in Transdigm Group by 123.1% in the 1st quarter. CVA Family Office LLC now owns 58 shares of the aerospace company's stock valued at $80,000 after acquiring an additional 32 shares during the period. 95.78% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TDG has been the topic of a number of research reports. The Goldman Sachs Group boosted their price objective on Transdigm Group from $1,526.00 to $1,709.00 and gave the company a "buy" rating in a research note on Monday, June 23rd. Morgan Stanley lifted their target price on Transdigm Group from $1,575.00 to $1,750.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. Citigroup lifted their target price on Transdigm Group from $1,635.00 to $1,795.00 and gave the company a "buy" rating in a report on Monday, July 14th. Wells Fargo & Company lifted their target price on Transdigm Group from $1,375.00 to $1,540.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Finally, Susquehanna lifted their target price on Transdigm Group from $1,300.00 to $1,600.00 and gave the company a "neutral" rating in a report on Monday, July 14th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Transdigm Group has a consensus rating of "Moderate Buy" and a consensus price target of $1,606.47.

Insider Activity

In other news, Director Sean P. Hennessy sold 4,700 shares of the stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $1,436.52, for a total transaction of $6,751,644.00. Following the completion of the sale, the director owned 33,713 shares of the company's stock, valued at approximately $48,429,398.76. This represents a 12.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert J. Small sold 45,700 shares of the stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $1,425.01, for a total value of $65,122,957.00. Following the sale, the director directly owned 88,419 shares of the company's stock, valued at approximately $125,997,959.19. This trade represents a 34.07% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 119,113 shares of company stock valued at $173,419,391. Corporate insiders own 4.09% of the company's stock.

Transdigm Group Price Performance

Shares of TDG opened at $1,582.76 on Friday. The firm has a market cap of $88.90 billion, a P/E ratio of 53.44, a P/E/G ratio of 3.20 and a beta of 1.07. The stock has a 50 day simple moving average of $1,507.98 and a two-hundred day simple moving average of $1,407.27. Transdigm Group Incorporated has a 1 year low of $1,176.31 and a 1 year high of $1,623.82.

Transdigm Group (NYSE:TDG - Get Free Report) last issued its earnings results on Tuesday, May 6th. The aerospace company reported $9.11 earnings per share (EPS) for the quarter, topping 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 business had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.17 billion. During the same quarter in the prior year, the firm earned $7.99 earnings per share. Transdigm Group's revenue for the quarter was up 12.0% on a year-over-year basis. On average, equities analysts anticipate that Transdigm Group Incorporated will post 35.13 earnings per share for the current year.

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.

Want to see what other hedge funds are holding TDG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Transdigm Group Incorporated (NYSE:TDG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.