Truist Financial Corp Trims Stock Position in Transdigm Group Incorporated $TDG

Key Points

• Truist Financial Corp has cut its stake in Transdigm Group by 50.9% in Q2, now owning 4,137 shares valued at approximately $6.29 million.
• Several institutions have also adjusted their holdings, with notable investors such as BNP Paribas increasing their stake by 5.4% and now holding shares worth about $143.95 million.
• Transdigm recently announced a special dividend of $90.00 per share, up from the previous dividend of $75.00, reflecting its ongoing financial strategies.

Truist Financial Corp reduced its stake in shares of Transdigm Group Incorporated (NYSE:TDG - Free Report) by 50.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,137 shares of the aerospace company's stock after selling 4,292 shares during the period. Truist Financial Corp's holdings in Transdigm Group were worth $6,291,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Vontobel Holding Ltd. purchased a new position in Transdigm Group in the 1st quarter valued at about $387,000. Dynamic Advisor Solutions LLC purchased a new stake in shares of Transdigm Group in the first quarter valued at $1,113,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in 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 purchasing an additional 380 shares during the last quarter. BNP Paribas Financial Markets lifted its position in Transdigm Group by 5.4% during the first quarter. BNP Paribas Financial Markets now owns 104,065 shares of the aerospace company's stock worth $143,952,000 after buying an additional 5,369 shares during the period. Finally, Radnor Capital Management LLC boosted its stake in Transdigm Group by 57.9% in the 2nd quarter. Radnor Capital Management LLC now owns 1,255 shares of the aerospace company's stock worth $1,908,000 after buying an additional 460 shares during the last quarter. Institutional investors and hedge funds own 95.78% of the company's stock.

Insider Buying and Selling

In other news, Director Michael Graff sold 1,760 shares of Transdigm Group stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $1,402.10, for a total transaction of $2,467,696.00. Following the sale, the director owned 1,964 shares in the company, valued at $2,753,724.40. This trade represents a 47.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director W Nicholas Howley sold 2,736 shares of the business's stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $1,569.86, for a total transaction of $4,295,136.96. Following the transaction, the director directly owned 21,548 shares in the company, valued at approximately $33,827,343.28. The trade was a 11.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,232 shares of company stock valued at $29,496,571. Insiders own 4.09% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on TDG. JPMorgan Chase & Co. upped their price objective on shares of Transdigm Group from $1,480.00 to $1,500.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Stifel Nicolaus initiated coverage on shares of Transdigm Group in a research report on Tuesday, June 24th. They set a "buy" rating and a $1,710.00 price target for the company. BMO Capital Markets began coverage on shares of Transdigm Group in a research note on Tuesday, September 30th. They set an "outperform" rating and a $1,420.00 price target on the stock. The Goldman Sachs Group lifted their price target on shares of Transdigm Group from $1,526.00 to $1,709.00 and gave the company a "buy" rating in a report on Monday, June 23rd. Finally, UBS Group upped their price objective on Transdigm Group from $1,815.00 to $1,839.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Twelve investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $1,588.50.

Transdigm Group Trading Up 0.3%

NYSE:TDG opened at $1,293.23 on Tuesday. The firm has a market capitalization of $72.87 billion, a price-to-earnings ratio of 42.92, a PEG ratio of 2.33 and a beta of 1.02. The firm's fifty day simple moving average is $1,367.57 and its 200 day simple moving average is $1,410.62. Transdigm Group Incorporated has a twelve month low of $1,183.60 and a twelve month high of $1,623.82.

Transdigm Group (NYSE:TDG - Get Free Report) last announced its quarterly 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). Transdigm Group had a net margin of 20.98% and a negative return on equity of 35.27%. The company 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 company posted $9.00 earnings per share. The firm's revenue for the quarter was up 9.3% on a year-over-year basis. Transdigm Group has set its FY 2025 guidance at 36.330-37.150 EPS. On average, analysts predict that Transdigm Group Incorporated will post 35.13 earnings per share for the current year.

Transdigm Group Increases Dividend

The business also recently announced a special dividend, which was paid on Friday, September 12th. Investors of record on Tuesday, September 2nd were issued a dividend of $90.00 per share. The ex-dividend date was Tuesday, September 2nd. This is an increase from Transdigm Group's previous special dividend of $75.00.

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.

Want to see what other hedge funds are holding TDG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Transdigm Group Incorporated (NYSE:TDG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.