Sumitomo Mitsui Trust Group Inc. Sells 64,782 Shares of Transdigm Group Incorporated $TDG

Key Points

• Sumitomo Mitsui Trust Group reduced its TransDigm stake by 35.7%, selling 64,782 shares in the third quarter and retaining 116,623 shares worth approximately $126.3 million. Institutional investors collectively own 95.78% of TDG.
• TransDigm insiders sold 22,032 shares valued at about $26.25 million over the past 90 days, including significant sales by Director W. Howley and COO Joel Reiss.
• Analysts maintain a broadly cautious view, with a consensus “Hold” rating and average price target of $1,428.40. The company recently exceeded quarterly earnings and revenue expectations, reporting $10.87 EPS and $2.74 billion in revenue.

Sumitomo Mitsui Trust Group Inc. cut its holdings in shares of Transdigm Group Incorporated (NYSE:TDG - Free Report) by 35.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 116,623 shares of the aerospace company's stock after selling 64,782 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.21% of Transdigm Group worth $126,256,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Transdigm Group during the third quarter valued at approximately $16,007,000. Blue Fin Capital Inc. lifted its stake in Transdigm Group by 1.7% in the third quarter. Blue Fin Capital Inc. now owns 1,599 shares of the aerospace company's stock worth $1,731,000 after acquiring an additional 26 shares during the period. CHICAGO TRUST Co NA boosted its holdings in Transdigm Group by 30.0% in the third quarter. CHICAGO TRUST Co NA now owns 360 shares of the aerospace company's stock valued at $390,000 after acquiring an additional 83 shares in the last quarter. Glenview Trust Co increased its position in Transdigm Group by 20.5% during the 3rd quarter. Glenview Trust Co now owns 2,388 shares of the aerospace company's stock valued at $2,585,000 after purchasing an additional 407 shares during the period. Finally, Motley Fool Asset Management LLC increased its position in Transdigm Group by 0.8% during the 3rd quarter. Motley Fool Asset Management LLC now owns 3,887 shares of the aerospace company's stock valued at $4,208,000 after purchasing an additional 32 shares during the period. 95.78% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Transdigm Group

In other news, Director W. Howley sold 10,132 shares of the company's stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $1,236.28, for a total value of $12,525,988.96. Following the sale, the director directly owned 21,548 shares of the company's stock, valued at $26,639,361.44. This represents a 31.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Joel Reiss sold 4,100 shares of the stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $1,128.04, for a total transaction of $4,624,964.00. Following the completion of the transaction, the chief operating officer owned 3,600 shares of the company's stock, valued at approximately $4,060,944. The trade was a 53.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 22,032 shares of company stock worth $26,250,979 over the last ninety days. Insiders own 3.20% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on TDG. UBS Group upped their price objective on shares of Transdigm Group from $1,585.00 to $1,695.00 and gave the stock a "buy" rating in a report on Wednesday, August 5th. TD Cowen cut their target price on shares of Transdigm Group from $1,450.00 to $1,300.00 and set a "buy" rating on the stock in a research note on Friday, October 9th. BMO Capital Markets reduced their price target on shares of Transdigm Group from $1,525.00 to $1,400.00 and set an "outperform" rating on the stock in a research report on Monday, September 28th. Stifel Nicolaus downgraded shares of Transdigm Group from a "buy" rating to a "hold" rating and decreased their price target for the stock from $1,525.00 to $1,405.00 in a research note on Wednesday, August 5th. Finally, Guggenheim initiated coverage on shares of Transdigm Group in a research note on Tuesday, September 15th. They issued a "neutral" rating for the company. Five analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $1,428.40.

Transdigm Group Stock Up 5.6%

Shares of TDG stock opened at $1,211.47 on Tuesday. The stock has a market cap of $67.76 billion, a price-to-earnings ratio of 36.76, a PEG ratio of 1.63 and a beta of 0.96. The business's fifty day moving average is $1,129.45 and its 200 day moving average is $1,227.88. Transdigm Group Incorporated has a twelve month low of $1,071.25 and a twelve month high of $1,463.03.

Transdigm Group (NYSE:TDG - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The aerospace company reported $10.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $10.30 by $0.57. Transdigm Group had a negative return on equity of 23.65% and a net margin of 19.69%. The business had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.68 billion. During the same quarter in the prior year, the company earned $9.60 earnings per share. The firm's quarterly revenue was up 22.5% compared to the same quarter last year. Equities research analysts expect that Transdigm Group Incorporated will post 38.81 earnings per share for the current fiscal year.

Transdigm Group Profile

TransDigm Group Incorporated NYSE: TDG is a global aerospace manufacturing company that designs, produces and supplies aircraft components, systems and related products. Its portfolio includes mechanical and electrical systems, cockpit and cabin products, airframe components, power and control systems, engine components, and other specialized equipment used in commercial, business and general aviation, and military aircraft.

The company serves aircraft manufacturers, airlines, aircraft operators, maintenance providers and defense customers.

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