Legal & General Group Plc Sells 63,529 Shares of TransDigm Group Incorporated (NYSE:TDG)

Legal & General Group Plc cut its position in TransDigm Group Incorporated (NYSE:TDG - Free Report) by 17.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 293,745 shares of the aerospace company's stock after selling 63,529 shares during the period. Legal & General Group Plc owned approximately 0.52% of TransDigm Group worth $372,257,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TDG. IHT Wealth Management LLC raised its holdings in TransDigm Group by 11.9% in the 3rd quarter. IHT Wealth Management LLC now owns 188 shares of the aerospace company's stock worth $268,000 after acquiring an additional 20 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of TransDigm Group by 0.6% in the 3rd quarter. Wellington Management Group LLP now owns 1,913 shares of the aerospace company's stock worth $2,730,000 after purchasing an additional 11 shares in the last quarter. National Bank of Canada FI raised its stake in shares of TransDigm Group by 47.4% in the third quarter. National Bank of Canada FI now owns 31,834 shares of the aerospace company's stock worth $45,431,000 after purchasing an additional 10,235 shares during the last quarter. XTX Topco Ltd bought a new position in shares of TransDigm Group during the third quarter valued at $253,000. Finally, Orion Portfolio Solutions LLC boosted its position in shares of TransDigm Group by 6.1% during the third quarter. Orion Portfolio Solutions LLC now owns 1,068 shares of the aerospace company's stock valued at $1,524,000 after buying an additional 61 shares during the last quarter. Institutional investors own 95.78% of the company's stock.

Remove Ads

TransDigm Group Price Performance

Shares of TDG stock traded up $11.46 on Friday, hitting $1,309.66. 268,284 shares of the stock traded hands, compared to its average volume of 250,725. TransDigm Group Incorporated has a 52 week low of $1,176.31 and a 52 week high of $1,451.32. The firm has a 50 day simple moving average of $1,335.18 and a two-hundred day simple moving average of $1,323.45. The firm has a market cap of $73.45 billion, a price-to-earnings ratio of 46.20, a PEG ratio of 2.76 and a beta of 1.08.

TransDigm Group (NYSE:TDG - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The aerospace company reported $7.57 EPS for the quarter, beating analysts' consensus estimates of $6.73 by $0.84. The business had revenue of $2.01 billion for the quarter, compared to analysts' expectations of $2.03 billion. TransDigm Group had a negative return on equity of 42.87% and a net margin of 20.76%. The business's quarterly revenue was up 12.1% on a year-over-year basis. During the same period last year, the firm earned $7.16 earnings per share. Sell-side analysts forecast that TransDigm Group Incorporated will post 35.13 EPS for the current year.

Insider Buying and Selling

In other news, CEO Kevin M. Stein sold 20,000 shares of the firm'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 owns 8,158 shares in the company, valued at $11,046,584.64. This trade represents a 71.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Joel Reiss sold 3,000 shares of the business's stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $1,360.04, for a total value of $4,080,120.00. Following the completion of the sale, the chief operating officer now owns 3,600 shares in the company, valued at $4,896,144. This represents a 45.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 124,594 shares of company stock valued at $165,646,468. Corporate insiders own 4.09% of the company's stock.

Analyst Ratings Changes

TDG has been the topic of several research analyst reports. UBS Group upgraded shares of TransDigm Group from a "neutral" rating to a "buy" rating and set a $1,595.00 target price on the stock in a research note on Monday, February 24th. Wells Fargo & Company lowered their price objective on shares of TransDigm Group from $1,580.00 to $1,410.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Truist Financial lifted their target price on shares of TransDigm Group from $1,482.00 to $1,534.00 and gave the stock a "buy" rating in a research report on Tuesday, January 14th. StockNews.com raised TransDigm Group from a "hold" rating to a "buy" rating in a report on Tuesday, April 8th. Finally, Barclays reaffirmed an "equal weight" rating and issued a $1,500.00 price objective on shares of TransDigm Group in a report on Monday, January 6th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat, TransDigm Group presently has an average rating of "Moderate Buy" and a consensus target price of $1,471.78.

TransDigm Group 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.