Mackenzie Financial Corp lowered its stake in Transdigm Group Incorporated (NYSE:TDG - Free Report) by 54.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,894 shares of the aerospace company's stock after selling 7,033 shares during the quarter. Mackenzie Financial Corp's holdings in Transdigm Group were worth $8,153,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in TDG. Vontobel Holding Ltd. purchased a new stake in Transdigm Group during the first quarter worth about $387,000. Dynamic Advisor Solutions LLC acquired a new position in Transdigm Group in the first quarter valued at approximately $1,113,000. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Transdigm Group by 4.6% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,653 shares of the aerospace company's stock valued at $11,970,000 after acquiring an additional 380 shares during the period. Mutual Advisors LLC acquired a new stake in shares of Transdigm Group in the first quarter valued at approximately $263,000. Finally, Paragon Advisors LLC raised its stake in shares of Transdigm Group by 14.2% during the first quarter. Paragon Advisors LLC now owns 1,800 shares of the aerospace company's stock worth $2,490,000 after purchasing an additional 224 shares during the last quarter. Hedge funds and other institutional investors own 95.78% of the company's stock.
Transdigm Group Stock Performance
Shares of NYSE TDG traded down $25.70 during midday trading on Friday, hitting $1,582.76. The company's stock had a trading volume of 322,169 shares, compared to its average volume of 205,673. Transdigm Group Incorporated has a 1-year low of $1,176.31 and a 1-year high of $1,623.82. The firm's fifty day moving average price is $1,507.98 and its 200-day moving average price is $1,406.48. The firm has a market cap of $88.90 billion, a P/E ratio of 53.44, a P/E/G ratio of 3.25 and a beta of 1.07.
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 analysts' consensus estimates 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 previous year, the firm posted $7.99 EPS. The business's revenue for the quarter was up 12.0% compared to the same quarter last year. As a group, research analysts predict that Transdigm Group Incorporated will post 35.13 earnings per share for the current fiscal year.
Insider Activity at Transdigm Group
In other news, Director W Nicholas Howley sold 49,241 shares of the business's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $1,475.85, for a total transaction of $72,672,329.85. Following the sale, the director directly owned 21,548 shares of the company's stock, valued at $31,801,615.80. The trade was a 69.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robert J. Small sold 45,700 shares of the company's 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 transaction of $65,122,957.00. Following the completion of the transaction, the director owned 88,419 shares in the company, valued at approximately $125,997,959.19. This represents a 34.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 119,113 shares of company stock worth $173,419,391 in the last ninety days. 4.09% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on TDG. Susquehanna upped their price objective on Transdigm Group from $1,300.00 to $1,600.00 and gave the stock a "neutral" rating in a report on Monday, July 14th. The Goldman Sachs Group increased 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. KeyCorp raised their price target on Transdigm Group from $1,500.00 to $1,700.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 2nd. Stifel Nicolaus assumed coverage on Transdigm Group in a report on Tuesday, June 24th. They issued a "buy" rating and a $1,710.00 price objective on the stock. Finally, UBS Group boosted their price target 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. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $1,606.47.
Get Our Latest Research Report on TDG
Transdigm Group Company Profile
(
Free Report)
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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