State of New Jersey Common Pension Fund D Lowers Holdings in Transdigm Group Incorporated (NYSE:TDG)

Key Points

• The State of New Jersey Common Pension Fund D has reduced its holdings in Transdigm Group by 9.1%, now owning 18,570 shares worth approximately $25.7 million.
• COO Joel Reiss sold 3,000 shares of the company, reducing his ownership by 45.45%, while Director Robert J. Small sold 45,700 shares, representing a 34.07% decrease in ownership.
• Transdigm Group's stock price opened at $1,388.60, with a market cap of $78.25 billion and a P/E ratio of 46.09, following a quarterly earnings report that showed a year-over-year revenue increase of 9.3%.

State of New Jersey Common Pension Fund D trimmed its holdings in Transdigm Group Incorporated (NYSE:TDG - Free Report) by 9.1% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 18,570 shares of the aerospace company's stock after selling 1,866 shares during the period. State of New Jersey Common Pension Fund D's holdings in Transdigm Group were worth $25,688,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Transdigm Group by 1.4% during the first quarter. Vanguard Group Inc. now owns 6,359,924 shares of the aerospace company's stock worth $8,797,619,000 after buying an additional 89,121 shares during the period. Capital World Investors boosted its position in shares of Transdigm Group by 4.3% during the fourth quarter. Capital World Investors now owns 3,791,927 shares of the aerospace company's stock worth $4,805,434,000 after buying an additional 155,541 shares during the period. Capital Research Global Investors boosted its position in shares of Transdigm Group by 4.8% during the fourth quarter. Capital Research Global Investors now owns 1,911,128 shares of the aerospace company's stock worth $2,421,979,000 after buying an additional 87,309 shares during the period. GAMMA Investing LLC boosted its position in shares of Transdigm Group by 177,412.3% during the first quarter. GAMMA Investing LLC now owns 1,240,811 shares of the aerospace company's stock worth $1,716,401,000 after buying an additional 1,240,112 shares during the period. Finally, Windacre Partnership LLC boosted its position in shares of Transdigm Group by 3.6% during the fourth quarter. Windacre Partnership LLC now owns 753,997 shares of the aerospace company's stock worth $955,525,000 after buying an additional 25,997 shares during the period. 95.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Transdigm Group news, COO Joel Reiss sold 3,000 shares of the firm's stock in a transaction on Monday, July 21st. The stock was sold at an average price of $1,597.86, for a total value of $4,793,580.00. Following the sale, the chief operating officer directly owned 3,600 shares in the company, valued at $5,752,296. This trade represents a 45.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert J. Small sold 45,700 shares of the firm's stock in a transaction 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 sale, the director owned 88,419 shares in the company, valued at approximately $125,997,959.19. This represents a 34.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 69,872 shares of company stock valued at $100,747,061 over the last 90 days. 4.09% of the stock is currently owned by corporate insiders.

Transdigm Group Trading Down 1.7%

Shares of NYSE TDG opened at $1,388.60 on Friday. The stock has a market cap of $78.25 billion, a P/E ratio of 46.09, a PEG ratio of 2.92 and a beta of 1.07. Transdigm Group Incorporated has a 12-month low of $1,183.60 and a 12-month high of $1,623.82. The business's fifty day simple moving average is $1,503.15 and its 200-day simple moving average is $1,412.93.

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

Analyst Upgrades and Downgrades

Several research analysts have recently commented on TDG shares. UBS Group raised their price target on Transdigm Group from $1,815.00 to $1,839.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. JPMorgan Chase & Co. raised their price target on Transdigm Group from $1,480.00 to $1,500.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Wells Fargo & Company raised their price target on Transdigm Group from $1,375.00 to $1,540.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. Truist Financial raised their price target on Transdigm Group from $1,553.00 to $1,730.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Finally, Wall Street Zen upgraded Transdigm Group from a "hold" rating to a "buy" rating in a research report on Saturday, May 17th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,624.69.

Transdigm Group Company 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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