Fred Alger Management LLC Lowers Holdings in Transdigm Group Incorporated $TDG

Key Points

• Fred Alger Management LLC reduced its stake in Transdigm Group by 54.2%, now holding approximately 0.09% of the company, worth about $68.9 million.
• Analysts are generally optimistic, with multiple firms raising their price targets for Transdigm Group, leading to a consensus rating of "Moderate Buy" and a consensus price target of $1,624.69.
• Transdigm Group announced a special dividend increase from $75.00 to $90.00, with the payment scheduled for September 12th.

Fred Alger Management LLC cut its position in Transdigm Group Incorporated (NYSE:TDG - Free Report) by 54.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,837 shares of the aerospace company's stock after selling 58,954 shares during the quarter. Fred Alger Management LLC owned about 0.09% of Transdigm Group worth $68,939,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in TDG. Bruce G. Allen Investments LLC grew its holdings 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 worth $26,000 after acquiring an additional 10 shares during the last quarter. Winch Advisory Services LLC lifted its position in Transdigm Group by 53.8% during 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. Saudi Central Bank purchased a new position in Transdigm Group during the 1st quarter valued at about $30,000. Park Square Financial Group LLC purchased a new position in Transdigm Group in the fourth quarter worth about $32,000. Finally, Wayfinding Financial LLC purchased a new position in Transdigm Group in the first quarter worth about $75,000. Institutional investors own 95.78% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Morgan Stanley lifted their price target on shares of 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. Citigroup boosted their target price on shares of Transdigm Group from $1,635.00 to $1,795.00 and gave the company a "buy" rating in a research report on Monday, July 14th. Stifel Nicolaus began coverage on shares of Transdigm Group in a research report on Tuesday, June 24th. They set a "buy" rating and a $1,710.00 target price for the company. JPMorgan Chase & Co. boosted their target price on shares of Transdigm Group from $1,480.00 to $1,500.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Finally, Susquehanna boosted their target price on shares of Transdigm Group from $1,300.00 to $1,600.00 and gave the company a "neutral" rating in a research report on Monday, July 14th. Nine equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $1,624.69.

Insider Transactions at Transdigm Group

In other news, COO Joel Reiss sold 3,000 shares of the company's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $1,424.27, for a total value of $4,272,810.00. Following the transaction, the chief operating officer directly owned 3,600 shares in the company, valued at approximately $5,127,372. This represents a 45.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Sarah Wynne sold 3,200 shares of the company's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $1,452.15, for a total transaction of $4,646,880.00. Following the completion of the transaction, the chief financial officer owned 3,400 shares in the company, valued at approximately $4,937,310. The trade was a 48.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,932 shares of company stock valued at $96,378,273. Company insiders own 4.09% of the company's stock.

Transdigm Group Price Performance

TDG opened at $1,272.16 on Monday. The firm has a market cap of $71.69 billion, a P/E ratio of 42.22, a PEG ratio of 2.69 and a beta of 1.03. Transdigm Group Incorporated has a 1-year low of $1,183.60 and a 1-year high of $1,623.82. The company has a 50 day simple moving average of $1,479.69 and a two-hundred day simple moving average of $1,418.14.

Transdigm Group (NYSE:TDG - Get Free Report) last released its earnings results on Tuesday, August 5th. The aerospace company reported $9.60 EPS for the quarter, missing the consensus estimate of $9.75 by ($0.15). The company had revenue of $2.24 billion during the quarter, compared to analysts' expectations of $2.29 billion. Transdigm Group had a negative return on equity of 35.27% and a net margin of 20.98%.Transdigm Group's quarterly revenue was up 9.3% compared to the same quarter last year. During the same period last year, the firm posted $9.00 EPS. Transdigm Group has set its FY 2025 guidance at 36.330-37.150 EPS. Equities analysts anticipate that Transdigm Group Incorporated will post 35.13 earnings per share for the current year.

Transdigm Group Increases Dividend

The company also recently announced a special dividend, which will be paid on Friday, September 12th. Stockholders of record on Tuesday, September 2nd will be paid a $90.00 dividend. This is an increase from Transdigm Group's previous special dividend of $75.00. The ex-dividend date of this dividend is Tuesday, September 2nd.

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.

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