Lord Abbett & CO. LLC Has $76.72 Million Stake in Transdigm Group Incorporated (NYSE:TDG)

Key Points

• Lord Abbett & CO. LLC has reduced its stake in Transdigm Group by 19.6%, holding approximately $76.72 million as of the end of the first quarter.
• Transdigm's stock recently reported a 1.1% increase, with current trading at $1,426.83 and a market cap of $80.40 billion.
• Analysts have mixed opinions on Transdigm, with price targets ranging from $1,540.00 to $1,730.00, reflecting a consensus rating of "Moderate Buy".

Lord Abbett & CO. LLC trimmed its position in Transdigm Group Incorporated (NYSE:TDG - Free Report) by 19.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 55,462 shares of the aerospace company's stock after selling 13,479 shares during the period. Lord Abbett & CO. LLC owned approximately 0.10% of Transdigm Group worth $76,720,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of TDG. Sagespring Wealth Partners LLC bought a new stake in shares of Transdigm Group in the fourth quarter valued at about $397,000. Mariner LLC raised its holdings in Transdigm Group by 0.5% during the fourth quarter. Mariner LLC now owns 15,739 shares of the aerospace company's stock worth $19,946,000 after acquiring an additional 72 shares in the last quarter. XTX Topco Ltd raised its holdings in Transdigm Group by 156.5% during the fourth quarter. XTX Topco Ltd now owns 454 shares of the aerospace company's stock worth $575,000 after acquiring an additional 277 shares in the last quarter. Jump Financial LLC bought a new stake in Transdigm Group during the fourth quarter worth about $350,000. Finally, United Capital Financial Advisors LLC raised its holdings in Transdigm Group by 1.4% during the fourth quarter. United Capital Financial Advisors LLC now owns 1,233 shares of the aerospace company's stock worth $1,563,000 after acquiring an additional 17 shares in the last quarter. 95.78% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TDG has been the topic of several analyst reports. KeyCorp dropped their target price on Transdigm Group from $1,700.00 to $1,600.00 and set an "overweight" rating on the stock in a report on Friday, August 8th. JPMorgan Chase & Co. lifted their target price on Transdigm Group from $1,480.00 to $1,500.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. Wall Street Zen raised Transdigm Group from a "hold" rating to a "buy" rating in a research report on Saturday, May 17th. Susquehanna increased their price target on Transdigm Group from $1,300.00 to $1,600.00 and gave the stock a "neutral" rating in a research report on Monday, July 14th. Finally, Citigroup increased their price target on Transdigm Group from $1,635.00 to $1,795.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $1,624.69.

Transdigm Group Trading Down 1.7%

NYSE:TDG traded down $24.13 during trading hours on Friday, hitting $1,388.60. 496,373 shares of the company were exchanged, compared to its average volume of 356,001. The stock has a market capitalization of $78.25 billion, a price-to-earnings ratio of 46.09, a price-to-earnings-growth ratio of 2.87 and a beta of 1.07. Transdigm Group Incorporated has a one year low of $1,183.60 and a one year high of $1,623.82. The company has a fifty day simple moving average of $1,503.15 and a 200 day simple moving average of $1,413.45.

Transdigm Group (NYSE:TDG - Get Free Report) last announced its earnings results on Tuesday, August 5th. The aerospace company reported $9.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.75 by ($0.15). The company had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.29 billion. Transdigm Group had a negative return on equity of 35.27% and a net margin of 20.98%. The firm's revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the prior year, the business earned $9.00 earnings per share. Equities research analysts predict that Transdigm Group Incorporated will post 35.13 earnings per share for the current fiscal year.

Insider Buying and Selling at Transdigm Group

In other Transdigm Group news, Director Robert J. Small sold 45,700 shares of the stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $1,425.01, for a total transaction of $65,122,957.00. Following the completion of the sale, the director directly owned 88,419 shares in the company, valued at approximately $125,997,959.19. This trade represents a 34.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Sean P. Hennessy sold 4,700 shares of the firm's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $1,436.52, for a total value 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 disclosure for this sale can be found here. Insiders sold 69,872 shares of company stock worth $100,747,061 over the last 90 days. Company insiders own 4.09% of the company's stock.

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.