TransDigm Group (NYSE:TDG) Reaches New 12-Month High After Dividend Announcement

TransDigm Group Incorporated (NYSE:TDG - Get Free Report) shares reached a new 52-week high during mid-day trading on Monday after the company announced a dividend. The company traded as high as $1,423.02 and last traded at $1,411.34, with a volume of 5518 shares changing hands. The stock had previously closed at $1,408.03.

The newly announced dividend which will be paid on Friday, October 18th. Shareholders of record on Friday, October 4th will be issued a $75.00 dividend. This is an increase from TransDigm Group's previous dividend of $32.50. The ex-dividend date is Friday, October 4th.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TDG. Truist Financial boosted their target price on TransDigm Group from $1,425.00 to $1,483.00 and gave the stock a "buy" rating in a report on Wednesday, July 17th. Stifel Nicolaus upped their target price on TransDigm Group from $1,300.00 to $1,325.00 and gave the company a "hold" rating in a report on Friday, June 7th. Wells Fargo & Company reduced their price target on TransDigm Group from $1,390.00 to $1,350.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 7th. Morgan Stanley boosted their price target on shares of TransDigm Group from $1,550.00 to $1,575.00 and gave the company an "overweight" rating in a research report on Wednesday, August 7th. Finally, Bank of America raised their price objective on shares of TransDigm Group from $1,310.00 to $1,460.00 and gave the stock a "buy" rating in a research report on Wednesday, May 29th. Eight investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $1,438.24.

TransDigm Group Trading Up 0.7 %

The company has a market capitalization of $79.35 billion, a PE ratio of 55.85, a PEG ratio of 2.16 and a beta of 1.42. The business has a fifty day moving average of $1,294.01 and a 200 day moving average of $1,276.52.

TransDigm Group (NYSE:TDG - Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The aerospace company reported $9.00 earnings per share for the quarter, topping analysts' consensus estimates of $7.77 by $1.23. TransDigm Group had a negative return on equity of 66.70% and a net margin of 21.83%. The business had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same quarter in the prior year, the company earned $6.55 earnings per share. The company's revenue was up 17.3% on a year-over-year basis. Equities analysts forecast that TransDigm Group Incorporated will post 30.69 EPS for the current fiscal year.

Insider Buying and Selling at TransDigm Group

In other news, Director W Nicholas Howley sold 5,073 shares of the company's stock in a transaction on Monday, July 15th. The shares were sold at an average price of $1,242.30, for a total value of $6,302,187.90. Following the completion of the transaction, the director now owns 21,548 shares in the company, valued at approximately $26,769,080.40. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, COO Joel Reiss sold 3,000 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $1,241.60, for a total transaction of $3,724,800.00. Following the completion of the sale, the chief operating officer now directly owns 3,600 shares of the company's stock, valued at $4,469,760. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director W Nicholas Howley sold 5,073 shares of the business's stock in a transaction on Monday, July 15th. The shares were sold at an average price of $1,242.30, for a total transaction of $6,302,187.90. Following the completion of the transaction, the director now directly owns 21,548 shares in the company, valued at $26,769,080.40. The disclosure for this sale can be found here. Insiders have sold a total of 36,545 shares of company stock worth $46,454,828 over the last ninety days. Corporate insiders own 4.96% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. increased its position in TransDigm Group by 0.8% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 966 shares of the aerospace company's stock worth $1,190,000 after purchasing an additional 8 shares during the period. Team Hewins LLC lifted its stake in shares of TransDigm Group by 3.0% in the first quarter. Team Hewins LLC now owns 275 shares of the aerospace company's stock valued at $339,000 after purchasing an additional 8 shares during the period. Souders Financial Advisors boosted its holdings in TransDigm Group by 1.1% during the first quarter. Souders Financial Advisors now owns 767 shares of the aerospace company's stock worth $945,000 after buying an additional 8 shares in the last quarter. Bennett Selby Investments LP grew its position in TransDigm Group by 2.4% during the second quarter. Bennett Selby Investments LP now owns 336 shares of the aerospace company's stock worth $429,000 after buying an additional 8 shares during the period. Finally, Checchi Capital Advisers LLC increased its holdings in TransDigm Group by 1.0% in the first quarter. Checchi Capital Advisers LLC now owns 918 shares of the aerospace company's stock valued at $1,131,000 after buying an additional 9 shares in the last quarter. 95.78% of the stock is currently owned by institutional investors and hedge funds.

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.