Retirement Systems of Alabama acquired a new position in TransDigm Group Inc. (NYSE:TDG) during the second quarter, Holdings Channel reports. The institutional investor acquired 27,009 shares of the company’s stock, valued at approximately $7,122,000.
A number of other large investors have also recently made changes to their positions in the company. Seven Eight Capital LLC purchased a new stake in shares of TransDigm Group during the first quarter worth about $195,000. Scotia Capital Inc. increased its stake in shares of TransDigm Group by 11.2% in the first quarter. Scotia Capital Inc. now owns 1,262 shares of the company’s stock worth $278,000 after buying an additional 127 shares during the last quarter. Checchi Capital Advisers LLC increased its stake in shares of TransDigm Group by 19.0% in the second quarter. Checchi Capital Advisers LLC now owns 1,172 shares of the company’s stock worth $309,000 after buying an additional 187 shares during the last quarter. Pacad Investment Ltd. purchased a new stake in shares of TransDigm Group during the first quarter worth about $397,000. Finally, Eachwin Capital LP purchased a new stake in shares of TransDigm Group during the first quarter worth about $459,000. Hedge funds and other institutional investors own 87.73% of the company’s stock.
TransDigm Group Inc. (NYSE:TDG) traded down 1.61% during mid-day trading on Friday, reaching $280.90. 1,006,949 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $286.00 and a 200-day moving average of $261.16. The stock has a market cap of $14.96 billion, a price-to-earnings ratio of 29.71 and a beta of 0.72. TransDigm Group Inc. has a one year low of $180.76 and a one year high of $294.38.
TransDigm Group (NYSE:TDG) last issued its quarterly earnings data on Tuesday, August 9th. The company reported $3.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.82 by $0.27. TransDigm Group had a negative return on equity of 62.15% and a net margin of 17.25%. The company earned $797.70 million during the quarter, compared to analyst estimates of $805.23 million. During the same quarter in the previous year, the firm earned $2.26 earnings per share. TransDigm Group’s revenue was up 15.4% on a year-over-year basis. On average, equities research analysts anticipate that TransDigm Group Inc. will post $11.39 earnings per share for the current year.
A number of brokerages have issued reports on TDG. Wolfe Research reiterated a “market perform” rating on shares of TransDigm Group in a research note on Friday. Barclays PLC increased their target price on shares of TransDigm Group from $285.00 to $300.00 and gave the stock an “overweight” rating in a report on Wednesday, June 22nd. Deutsche Bank AG increased their target price on shares of TransDigm Group from $260.00 to $300.00 and gave the stock a “hold” rating in a report on Wednesday, August 10th. Jefferies Group set a $340.00 target price on shares of TransDigm Group and gave the stock a “buy” rating in a report on Tuesday, October 4th. Finally, Zacks Investment Research cut shares of TransDigm Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 12th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company’s stock. TransDigm Group has an average rating of “Hold” and a consensus target price of $288.18.
In related news, insider Bernt G. Iversen II sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $287.16, for a total value of $2,871,600.00. Following the completion of the sale, the insider now owns 15,010 shares in the company, valued at approximately $4,310,271.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Roger Jones sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $285.92, for a total value of $2,144,400.00. Following the completion of the sale, the insider now owns 11,500 shares of the company’s stock, valued at approximately $3,288,080. The disclosure for this sale can be found here. Insiders own 9.30% of the company’s stock.
About TransDigm Group
TransDigm Group Incorporated (TransDigm) is a designer, producer and supplier of engineered aircraft components for use on commercial and military aircraft. The Company operates through three segments: Power & Control, Airframe and Non-aviation. Its Power & Control segment includes operations that primarily develop, produce and market systems and components that provide power to or control power of the aircraft utilizing electronic, fluid, power and mechanical motion control technologies.
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