PNC Financial Services Group Inc. Buys 3,842 Shares of Transdigm Group Incorporated (NYSE:TDG)

Key Points

• PNC Financial Services Group Inc. increased its stake in Transdigm Group by 5.7%, acquiring an additional 3,842 shares, bringing its total ownership to 71,401 shares valued at approximately $98.77 million.
• Transdigm reported $9.11 earnings per share (EPS) for its latest quarter, outperforming analysts' expectations of $8.83, with a revenue of $2.15 billion, though slightly below the $2.17 billion forecast.
• Insider trading reveals significant stock sales by directors, including a transaction where Director Robert J. Small sold 45,700 shares for about $65.12 million, indicating a decrease in ownership by 34.07%.

PNC Financial Services Group Inc. raised its stake in Transdigm Group Incorporated (NYSE:TDG - Free Report) by 5.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,401 shares of the aerospace company's stock after buying an additional 3,842 shares during the period. PNC Financial Services Group Inc. owned 0.13% of Transdigm Group worth $98,769,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Bruce G. Allen Investments LLC increased its position 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 lifted its holdings in shares of Transdigm Group by 53.8% during the first quarter. Winch Advisory Services LLC now owns 20 shares of the aerospace company's stock worth $28,000 after purchasing an additional 7 shares during the period. Park Square Financial Group LLC bought a new stake in shares of Transdigm Group in the fourth quarter worth $32,000. Wayfinding Financial LLC acquired a new stake in Transdigm Group in the first quarter valued at $75,000. Finally, CVA Family Office LLC increased its holdings in Transdigm Group by 123.1% in the first quarter. CVA Family Office LLC now owns 58 shares of the aerospace company's stock valued at $80,000 after purchasing an additional 32 shares during the period. Institutional investors own 95.78% of the company's stock.

Transdigm Group Price Performance

NYSE TDG opened at $1,582.76 on Friday. The business's fifty day moving average is $1,507.98 and its 200-day moving average is $1,407.27. The stock has a market capitalization of $88.90 billion, a price-to-earnings ratio of 53.44, a PEG ratio of 3.20 and a beta of 1.07. Transdigm Group Incorporated has a one year low of $1,176.31 and a one year high of $1,623.82.

Transdigm Group (NYSE:TDG - Get Free Report) last issued its quarterly 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 net margin of 21.09% and a negative return on equity of 38.71%. The company had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.17 billion. During the same quarter last year, the business posted $7.99 EPS. Transdigm Group's quarterly revenue was up 12.0% compared to the same quarter last year. Research analysts expect that Transdigm Group Incorporated will post 35.13 EPS for the current fiscal year.

Insider Activity

In related news, Director Robert J. Small sold 45,700 shares of Transdigm Group 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 completion of the transaction, the director directly owned 88,419 shares in the company, valued at approximately $125,997,959.19. The trade was a 34.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director W Nicholas Howley sold 49,241 shares of the firm's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $1,475.85, for a total value of $72,672,329.85. Following the completion of the transaction, 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 119,113 shares of company stock valued at $173,419,391. 4.09% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TDG. Wall Street Zen upgraded shares of Transdigm Group from a "hold" rating to a "buy" rating in a research report on Saturday, May 17th. Stifel Nicolaus began coverage on shares of Transdigm Group in a report on Tuesday, June 24th. They issued a "buy" rating and a $1,710.00 target price on the stock. Wells Fargo & Company upped their price target on shares of Transdigm Group from $1,375.00 to $1,540.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. Northcoast Research raised Transdigm Group from a "neutral" rating to a "buy" rating and set a $1,500.00 price objective for the company in a research report on Wednesday, April 9th. Finally, The Goldman Sachs Group upped their target price on Transdigm Group from $1,526.00 to $1,709.00 and gave the company a "buy" rating in a research report on Monday, June 23rd. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $1,606.47.

Transdigm Group 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.

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