TransDigm Group Incorporated (NYSE:TDG) Sees Large Growth in Short Interest

TransDigm Group Incorporated (NYSE:TDG - Get Free Report) was the recipient of a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 1,220,000 shares, a growth of 19.6% from the February 28th total of 1,020,000 shares. Based on an average daily volume of 264,200 shares, the days-to-cover ratio is currently 4.6 days. Approximately 2.3% of the shares of the company are short sold.

Wall Street Analyst Weigh In

TDG has been the subject of a number of recent analyst reports. UBS Group raised TransDigm Group from a "neutral" rating to a "buy" rating and set a $1,595.00 target price for the company in a report on Monday, February 24th. Truist Financial boosted their price objective on shares of TransDigm Group from $1,482.00 to $1,534.00 and gave the company a "buy" rating in a research note on Tuesday, January 14th. Susquehanna upped their target price on shares of TransDigm Group from $1,250.00 to $1,300.00 and gave the stock a "neutral" rating in a report on Wednesday, April 2nd. StockNews.com downgraded shares of TransDigm Group from a "buy" rating to a "hold" rating in a report on Monday, March 31st. Finally, Wells Fargo & Company upped their price target on shares of TransDigm Group from $1,500.00 to $1,580.00 and gave the stock an "overweight" rating in a report on Tuesday, March 25th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, TransDigm Group presently has a consensus rating of "Moderate Buy" and an average target price of $1,480.12.

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Insiders Place Their Bets

In other TransDigm Group news, Director W Nicholas Howley sold 5,472 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $1,296.77, for a total transaction of $7,095,925.44. Following the sale, the director now owns 21,548 shares in the company, valued at $27,942,799.96. This represents a 20.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Kevin M. Stein sold 20,000 shares of the firm's stock in a transaction on Monday, January 13th. The stock was sold at an average price of $1,267.21, for a total value of $25,344,200.00. Following the completion of the transaction, the chief executive officer now directly owns 8,158 shares of the company's stock, valued at $10,337,899.18. The trade was a 71.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 124,594 shares of company stock worth $165,646,468 over the last quarter. 4.09% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. grew its position in TransDigm Group by 9.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,997,827 shares of the aerospace company's stock worth $2,851,160,000 after acquiring an additional 173,642 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in shares of TransDigm Group by 7.1% in the third quarter. Nomura Asset Management Co. Ltd. now owns 16,323 shares of the aerospace company's stock worth $23,295,000 after purchasing an additional 1,086 shares during the last quarter. Unigestion Holding SA bought a new stake in TransDigm Group during the 3rd quarter valued at $1,476,000. Triasima Portfolio Management inc. purchased a new stake in TransDigm Group during the 4th quarter valued at $911,000. Finally, HighTower Advisors LLC grew its holdings in TransDigm Group by 82.9% in the 3rd quarter. HighTower Advisors LLC now owns 15,216 shares of the aerospace company's stock worth $21,663,000 after acquiring an additional 6,895 shares during the last quarter. 95.78% of the stock is owned by institutional investors.

TransDigm Group Stock Performance

NYSE:TDG traded up $11.38 during mid-day trading on Monday, reaching $1,249.23. The stock had a trading volume of 614,480 shares, compared to its average volume of 246,926. TransDigm Group has a one year low of $1,176.31 and a one year high of $1,451.32. The firm has a 50 day moving average price of $1,342.05 and a two-hundred day moving average price of $1,328.34. The stock has a market capitalization of $70.06 billion, a P/E ratio of 44.06, a P/E/G ratio of 2.76 and a beta of 1.08.

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

TransDigm Group Company 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.