Norges Bank Purchases New Stake in TransDigm Group Incorporated (NYSE:TDG)

Norges Bank acquired a new stake in TransDigm Group Incorporated (NYSE:TDG - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 781,754 shares of the aerospace company's stock, valued at approximately $790,822,000. Norges Bank owned 1.41% of TransDigm Group at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Commonwealth Equity Services LLC lifted its stake in shares of TransDigm Group by 9.8% in the 3rd quarter. Commonwealth Equity Services LLC now owns 1,133 shares of the aerospace company's stock valued at $956,000 after purchasing an additional 101 shares during the period. Allworth Financial LP increased its stake in shares of TransDigm Group by 1.2% in the 3rd quarter. Allworth Financial LP now owns 1,175 shares of the aerospace company's stock worth $991,000 after acquiring an additional 14 shares in the last quarter. Orion Portfolio Solutions LLC lifted its position in TransDigm Group by 18.9% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 484 shares of the aerospace company's stock valued at $408,000 after acquiring an additional 77 shares during the period. Daiwa Securities Group Inc. grew its holdings in TransDigm Group by 7.9% in the third quarter. Daiwa Securities Group Inc. now owns 4,637 shares of the aerospace company's stock worth $3,910,000 after purchasing an additional 338 shares during the period. Finally, Nisa Investment Advisors LLC increased its stake in shares of TransDigm Group by 3.3% during the third quarter. Nisa Investment Advisors LLC now owns 14,933 shares of the aerospace company's stock valued at $12,590,000 after purchasing an additional 474 shares in the last quarter. 95.78% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. The Goldman Sachs Group raised their price objective on TransDigm Group from $1,285.00 to $1,518.00 and gave the company a "buy" rating in a research report on Tuesday, April 16th. JPMorgan Chase & Co. increased their price objective on shares of TransDigm Group from $1,050.00 to $1,175.00 and gave the company a "neutral" rating in a research report on Wednesday, March 27th. StockNews.com raised shares of TransDigm Group from a "hold" rating to a "buy" rating in a report on Saturday. Morgan Stanley upped their target price on shares of TransDigm Group from $1,275.00 to $1,550.00 and gave the stock an "overweight" rating in a research note on Thursday, May 9th. Finally, Robert W. Baird upped their price objective on TransDigm Group from $1,290.00 to $1,357.00 and gave the company an "outperform" rating in a research report on Wednesday, May 8th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $1,327.44.

TransDigm Group Stock Up 0.4 %

TransDigm Group stock traded up $5.63 during mid-day trading on Friday, reaching $1,291.95. 210,869 shares of the company's stock traded hands, compared to its average volume of 235,536. TransDigm Group Incorporated has a 12-month low of $768.05 and a 12-month high of $1,330.82. The company has a market cap of $72.30 billion, a price-to-earnings ratio of 51.25, a PEG ratio of 2.47 and a beta of 1.39. The stock has a 50 day moving average of $1,237.06 and a two-hundred day moving average of $1,110.47.

TransDigm Group (NYSE:TDG - Get Free Report) last issued its quarterly earnings data on Tuesday, May 7th. The aerospace company reported $7.99 earnings per share for the quarter, topping the consensus estimate of $7.42 by $0.57. TransDigm Group had a negative return on equity of 63.35% and a net margin of 21.22%. The company had revenue of $1.92 billion for the quarter, compared to analysts' expectations of $1.88 billion. During the same period in the previous year, the firm posted $5.39 earnings per share. The firm's revenue for the quarter was up 20.5% on a year-over-year basis. As a group, sell-side analysts forecast that TransDigm Group Incorporated will post 29.96 earnings per share for the current year.

Insider Activity at TransDigm Group

In other TransDigm Group news, CFO Sarah Wynne sold 5,850 shares of the business's stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $1,159.00, for a total transaction of $6,780,150.00. Following the completion of the transaction, the chief financial officer now owns 700 shares in the company, valued at $811,300. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director W Nicholas Howley sold 9,381 shares of the business's stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $1,165.00, for a total value of $10,928,865.00. Following the completion of the sale, the director now owns 21,548 shares in the company, valued at $25,103,420. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sarah Wynne sold 5,850 shares of the firm's stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $1,159.00, for a total value of $6,780,150.00. Following the transaction, the chief financial officer now owns 700 shares in the company, valued at $811,300. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 11 shares of company stock worth $5,950 and have sold 63,434 shares worth $76,847,440. 4.96% of the stock is currently owned by insiders.

About TransDigm Group

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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