Fred Alger Management LLC Decreases Stake in TransDigm Group Incorporated (NYSE:TDG)

Fred Alger Management LLC lessened its stake in TransDigm Group Incorporated (NYSE:TDG - Free Report) by 12.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 157,493 shares of the aerospace company's stock after selling 21,673 shares during the period. TransDigm Group comprises approximately 1.1% of Fred Alger Management LLC's portfolio, making the stock its 18th largest position. Fred Alger Management LLC owned 0.28% of TransDigm Group worth $224,763,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Captrust Financial Advisors increased its stake in TransDigm Group by 0.8% during the third quarter. Captrust Financial Advisors now owns 2,449 shares of the aerospace company's stock worth $3,494,000 after purchasing an additional 20 shares during the period. Skye Global Management LP increased its stake in TransDigm Group by 0.8% during the 3rd quarter. Skye Global Management LP now owns 112,000 shares of the aerospace company's stock worth $159,839,000 after buying an additional 928 shares during the period. Rockefeller Capital Management L.P. lifted its holdings in TransDigm Group by 17.8% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 14,721 shares of the aerospace company's stock worth $21,004,000 after buying an additional 2,224 shares in the last quarter. Vinva Investment Management Ltd boosted its position in TransDigm Group by 25.2% in the 3rd quarter. Vinva Investment Management Ltd now owns 1,637 shares of the aerospace company's stock valued at $2,297,000 after buying an additional 329 shares during the period. Finally, Public Sector Pension Investment Board grew its stake in shares of TransDigm Group by 13.9% in the third quarter. Public Sector Pension Investment Board now owns 2,453 shares of the aerospace company's stock worth $3,501,000 after acquiring an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 95.78% of the company's stock.

TransDigm Group Stock Up 0.3 %

NYSE:TDG traded up $3.64 during mid-day trading on Friday, reaching $1,252.97. 171,083 shares of the stock were exchanged, compared to its average volume of 225,741. TransDigm Group Incorporated has a 1 year low of $949.99 and a 1 year high of $1,451.32. The company has a 50 day simple moving average of $1,346.89 and a 200-day simple moving average of $1,316.40. The stock has a market capitalization of $70.45 billion, a P/E ratio of 49.00, a P/E/G ratio of 2.81 and a beta of 1.43.

TransDigm Group Increases Dividend

The firm also recently announced a special dividend, which was paid on Friday, October 18th. Stockholders of record on Friday, October 4th were issued a $75.00 dividend. This is a boost from TransDigm Group's previous special dividend of $32.50. The ex-dividend date of this dividend was Friday, October 4th.

Insider Activity at TransDigm Group

In related news, Director W Nicholas Howley sold 5,472 shares of the firm's stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $1,376.42, for a total transaction of $7,531,770.24. Following the transaction, the director now owns 21,548 shares of the company's stock, valued at $29,659,098.16. This trade represents a 20.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Joel Reiss sold 3,000 shares of the company's stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $1,375.89, for a total value of $4,127,670.00. Following the sale, the chief operating officer now directly owns 3,600 shares of the company's stock, valued at approximately $4,953,204. This represents a 45.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,944 shares of company stock worth $23,541,085 in the last 90 days. 4.96% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TDG. Susquehanna increased their price objective on TransDigm Group from $1,200.00 to $1,250.00 and gave the company a "neutral" rating in a research note on Wednesday, August 7th. Royal Bank of Canada reiterated an "outperform" rating and issued a $1,500.00 price objective on shares of TransDigm Group in a research note on Wednesday, August 7th. JPMorgan Chase & Co. boosted their price objective on TransDigm Group from $1,435.00 to $1,555.00 and gave the stock a "neutral" rating in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft raised their target price on shares of TransDigm Group from $1,524.00 to $1,577.00 and gave the company a "buy" rating in a report on Thursday, October 3rd. Finally, Jefferies Financial Group lowered their price target on shares of TransDigm Group from $1,625.00 to $1,515.00 and set a "buy" rating for the company in a report on Tuesday, August 13th. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $1,461.82.

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.