Burney Co. Buys Shares of 503 Transdigm Group Incorporated (NYSE:TDG)

Key Points

• Burney Co. has invested approximately $696,000 in Transdigm Group by acquiring 503 shares, marking a significant move by the fund in the aerospace sector.
• Major brokerages have boosted their price targets for Transdigm Group, with Susquehanna setting a new target at $1,600 while Wells Fargo raised theirs to $1,540, indicating strong confidence in the stock's performance.
• Insider trading activities have seen significant stock sales, with COO Joel Reiss selling 3,000 shares and Director W Nicholas Howley selling 49,241 shares, reflecting a notable decrease in their ownership stakes.

Burney Co. acquired a new position in Transdigm Group Incorporated (NYSE:TDG - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 503 shares of the aerospace company's stock, valued at approximately $696,000.

A number of other institutional investors have also recently made changes to their positions in TDG. LPL Financial LLC boosted its position in shares of Transdigm Group by 17.4% in the 4th quarter. LPL Financial LLC now owns 21,495 shares of the aerospace company's stock worth $27,240,000 after purchasing an additional 3,182 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Transdigm Group by 9.4% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 90,895 shares of the aerospace company's stock worth $115,942,000 after acquiring an additional 7,837 shares during the last quarter. UniSuper Management Pty Ltd raised its stake in Transdigm Group by 35.7% in the 4th quarter. UniSuper Management Pty Ltd now owns 4,036 shares of the aerospace company's stock worth $5,115,000 after acquiring an additional 1,061 shares during the last quarter. Norges Bank purchased a new position in Transdigm Group in the 4th quarter worth $973,353,000. Finally, New Age Alpha Advisors LLC purchased a new position in Transdigm Group in the 4th quarter worth $6,243,000. Institutional investors and hedge funds own 95.78% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TDG. Truist Financial raised their target price on Transdigm Group from $1,553.00 to $1,730.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Morgan Stanley raised their target price on Transdigm Group from $1,575.00 to $1,750.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. The Goldman Sachs Group lifted 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. Citigroup lifted their price objective on Transdigm Group from $1,635.00 to $1,795.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Finally, KeyCorp lifted their price objective on Transdigm Group from $1,500.00 to $1,700.00 and gave the company an "overweight" rating in a research note on Wednesday, July 2nd. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, Transdigm Group presently has an average rating of "Moderate Buy" and a consensus target price of $1,606.47.

Transdigm Group Price Performance

TDG stock traded up $6.85 during trading on Friday, hitting $1,606.09. The stock had a trading volume of 200,223 shares, compared to its average volume of 224,248. Transdigm Group Incorporated has a twelve month low of $1,176.31 and a twelve month high of $1,615.35. The stock has a market capitalization of $90.21 billion, a P/E ratio of 54.22, a PEG ratio of 3.25 and a beta of 1.04. The company's 50-day moving average price is $1,489.82 and its two-hundred day moving average price is $1,396.09.

Transdigm Group (NYSE:TDG - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $2.15 billion for the quarter, compared to analysts' expectations of $2.17 billion. During the same period in the previous year, the firm posted $7.99 EPS. Transdigm Group's revenue was up 12.0% compared to the same quarter last year. As a group, sell-side analysts expect that Transdigm Group Incorporated will post 35.13 EPS for the current fiscal year.

Insider Buying and Selling at Transdigm Group

In other news, Director Sean P. Hennessy sold 4,700 shares of the business's 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 transaction, the director directly owned 33,713 shares in the company, valued at $48,429,398.76. The trade was a 12.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Sarah Wynne sold 3,200 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $1,452.15, for a total value of $4,646,880.00. Following the transaction, the chief financial officer owned 3,400 shares in the company, valued at approximately $4,937,310. This represents a 48.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 119,113 shares of company stock worth $173,419,391. 4.09% of the stock is owned by company insiders.

About Transdigm Group

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.