Transdigm Group (NYSE:TDG) Given New $1,600.00 Price Target at KeyCorp

Key Points

• KeyCorp lowered its price target for Transdigm Group from $1,700.00 to $1,600.00, while maintaining an "overweight" rating which suggests a potential upside of 13.78% from its previous close.
• Transdigm Group's stock fell by 1.6% last trading session, closing at $1,406.27, amidst a market cap of $78.99 billion and a P/E ratio of 46.87.
• Recent quarterly earnings revealed that Transdigm reported $9.60 EPS, missing estimates, with a revenue of $2.24 billion that also fell short of expectations.

Transdigm Group (NYSE:TDG - Get Free Report) had its price objective reduced by KeyCorp from $1,700.00 to $1,600.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an "overweight" rating on the aerospace company's stock. KeyCorp's price objective suggests a potential upside of 14.90% from the company's previous close.

A number of other research firms have also recently issued reports on TDG. JPMorgan Chase & Co. upped their price target on shares of Transdigm Group from $1,480.00 to $1,500.00 and gave the company a "neutral" rating in a report on Thursday. Morgan Stanley upped their price target on shares of Transdigm Group from $1,575.00 to $1,750.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. The Goldman Sachs Group upped 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. Truist Financial increased their target price on shares of Transdigm Group from $1,553.00 to $1,730.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Finally, UBS Group increased their target price on shares of Transdigm Group from $1,815.00 to $1,839.00 and gave the company a "buy" rating in a research note on Thursday. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,616.86.

Transdigm Group Price Performance

NYSE:TDG traded down $36.61 during trading hours on Friday, reaching $1,392.54. The company's stock had a trading volume of 433,017 shares, compared to its average volume of 334,686. The company has a market cap of $78.47 billion, a price-to-earnings ratio of 46.22, a price-to-earnings-growth ratio of 2.81 and a beta of 1.07. Transdigm Group has a one year low of $1,183.60 and a one year high of $1,623.82. The business's 50-day moving average is $1,507.43 and its 200-day moving average is $1,411.00.

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

Insider Transactions at Transdigm Group

In related news, Director Robert J. Small sold 45,700 shares of the stock in a transaction dated 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 owned 88,419 shares of the company's stock, valued at $125,997,959.19. This represents a 34.07% 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 stock in a transaction dated 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 completion of the transaction, the director directly owned 21,548 shares of the company's stock, valued at $33,827,343.28. This trade represents a 11.27% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 69,872 shares of company stock valued at $100,747,061. Corporate insiders own 4.09% of the company's stock.

Institutional Trading of Transdigm Group

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings 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 in the last quarter. Capital World Investors increased its holdings in shares of Transdigm Group by 4.3% in the fourth quarter. Capital World Investors now owns 3,791,927 shares of the aerospace company's stock valued at $4,805,434,000 after purchasing an additional 155,541 shares in the last quarter. Capital Research Global Investors increased its holdings in shares of Transdigm Group by 4.8% in the fourth quarter. Capital Research Global Investors now owns 1,911,128 shares of the aerospace company's stock valued at $2,421,979,000 after purchasing an additional 87,309 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Transdigm Group by 177,412.3% in the first quarter. GAMMA Investing LLC now owns 1,240,811 shares of the aerospace company's stock valued at $1,716,401,000 after purchasing an additional 1,240,112 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Transdigm Group by 1.5% in the second quarter. Geode Capital Management LLC now owns 1,214,396 shares of the aerospace company's stock valued at $1,837,459,000 after purchasing an additional 17,946 shares in the last quarter. Institutional investors and hedge funds own 95.78% of the company's stock.

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.