Fred Alger Management LLC Sells 48,702 Shares of TransDigm Group Incorporated (NYSE:TDG)

Fred Alger Management LLC decreased its holdings in shares of TransDigm Group Incorporated (NYSE:TDG - Free Report) by 30.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 108,791 shares of the aerospace company's stock after selling 48,702 shares during the quarter. TransDigm Group comprises approximately 0.7% of Fred Alger Management LLC's holdings, making the stock its 25th largest position. Fred Alger Management LLC owned about 0.19% of TransDigm Group worth $137,869,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its holdings in TransDigm Group by 9.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,997,827 shares of the aerospace company's stock valued at $2,851,160,000 after buying an additional 173,642 shares during the period. Versant Capital Management Inc boosted its position in shares of TransDigm Group by 225.0% during the 4th quarter. Versant Capital Management Inc now owns 26 shares of the aerospace company's stock valued at $33,000 after acquiring an additional 18 shares in the last quarter. Fulton Bank N.A. increased its stake in TransDigm Group by 10.7% in the fourth quarter. Fulton Bank N.A. now owns 249 shares of the aerospace company's stock valued at $316,000 after acquiring an additional 24 shares during the period. Baker Tilly Wealth Management LLC raised its position in TransDigm Group by 16.8% in the fourth quarter. Baker Tilly Wealth Management LLC now owns 681 shares of the aerospace company's stock worth $863,000 after purchasing an additional 98 shares in the last quarter. Finally, Graypoint LLC boosted its holdings in TransDigm Group by 8.1% during the fourth quarter. Graypoint LLC now owns 239 shares of the aerospace company's stock valued at $303,000 after purchasing an additional 18 shares in the last quarter. Institutional investors and hedge funds own 95.78% of the company's stock.

Wall Street Analysts Forecast Growth

TDG has been the topic of several recent analyst reports. Wells Fargo & Company boosted their target price on TransDigm Group from $1,375.00 to $1,540.00 and gave the stock an "overweight" rating in a report on Thursday. Northcoast Research upgraded TransDigm Group from a "neutral" rating to a "buy" rating and set a $1,500.00 target price on the stock in a report on Wednesday, April 9th. Susquehanna lifted their price target on TransDigm Group from $1,250.00 to $1,300.00 and gave the company a "neutral" rating in a report on Wednesday, April 2nd. UBS Group increased their price objective on shares of TransDigm Group from $1,451.00 to $1,645.00 and gave the stock a "buy" rating in a report on Wednesday. Finally, Truist Financial dropped their target price on shares of TransDigm Group from $1,534.00 to $1,490.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $1,490.20.

Insider Buying and Selling

In related news, CEO Kevin M. Stein sold 20,000 shares of the business's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $1,354.08, for a total transaction of $27,081,600.00. Following the completion of the transaction, the chief executive officer now directly owns 8,158 shares in the company, valued at $11,046,584.64. The trade was a 71.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert J. Small sold 1,000 shares of the business's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $1,335.22, for a total value of $1,335,220.00. Following the transaction, the director now directly owns 95,147 shares of the company's stock, valued at $127,042,177.34. The trade was a 1.04 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 174,135 shares of company stock valued at $240,122,586. 4.09% of the stock is owned by insiders.

TransDigm Group Price Performance

Shares of NYSE TDG traded down $12.79 during mid-day trading on Friday, reaching $1,372.20. 276,286 shares of the company's stock traded hands, compared to its average volume of 258,798. The business has a 50-day simple moving average of $1,353.73 and a 200 day simple moving average of $1,321.68. The stock has a market cap of $77.07 billion, a P/E ratio of 48.40, a PEG ratio of 2.76 and a beta of 1.09. TransDigm Group Incorporated has a 1-year low of $1,176.31 and a 1-year high of $1,488.54.

TransDigm Group (NYSE:TDG - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The aerospace company reported $9.11 earnings per share for the quarter, beating the consensus estimate of $8.83 by $0.28. TransDigm Group had a negative return on equity of 42.87% and a net margin of 20.76%. The business had revenue of $2.15 billion for the quarter, compared to analysts' expectations of $2.17 billion. During the same period last year, the business earned $7.99 EPS. The business's revenue was up 12.0% on a year-over-year basis. Equities research analysts anticipate that TransDigm Group Incorporated will post 35.13 earnings per share for the current fiscal year.

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.