Summit Global Investments Makes New Investment in TransDigm Group Incorporated (NYSE:TDG)

Summit Global Investments bought a new position in TransDigm Group Incorporated (NYSE:TDG - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 870 shares of the aerospace company's stock, valued at approximately $1,242,000.

Several other large investors have also made changes to their positions in TDG. Fortitude Family Office LLC raised its position in TransDigm Group by 283.3% in the second quarter. Fortitude Family Office LLC now owns 23 shares of the aerospace company's stock valued at $29,000 after purchasing an additional 17 shares during the period. DT Investment Partners LLC increased its position in shares of TransDigm Group by 68.8% during the third quarter. DT Investment Partners LLC now owns 27 shares of the aerospace company's stock worth $39,000 after acquiring an additional 11 shares during the last quarter. Meeder Asset Management Inc. increased its position in shares of TransDigm Group by 275.0% during the second quarter. Meeder Asset Management Inc. now owns 30 shares of the aerospace company's stock worth $38,000 after acquiring an additional 22 shares during the last quarter. Central Pacific Bank Trust Division purchased a new stake in shares of TransDigm Group during the first quarter worth about $39,000. Finally, Hershey Financial Advisers LLC purchased a new stake in shares of TransDigm Group during the second quarter worth about $41,000. 95.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on TDG shares. UBS Group decreased their price target on TransDigm Group from $1,466.00 to $1,423.00 and set a "neutral" rating for the company in a research note on Wednesday, August 7th. Jefferies Financial Group decreased their price target on TransDigm Group from $1,625.00 to $1,515.00 and set a "buy" rating for the company in a research note on Tuesday, August 13th. KeyCorp lifted their price target on TransDigm Group from $1,440.00 to $1,500.00 and gave the stock an "overweight" rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. lifted their target price on TransDigm Group from $1,435.00 to $1,555.00 and gave the company a "neutral" rating in a research note on Monday, October 14th. Finally, Truist Financial lifted their target price on TransDigm Group from $1,425.00 to $1,483.00 and gave the company a "buy" rating in a research note on Wednesday, July 17th. Eight analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, TransDigm Group presently has a consensus rating of "Moderate Buy" and an average target price of $1,461.82.

TransDigm Group Stock Performance

Shares of NYSE TDG traded up $21.59 during mid-day trading on Friday, reaching $1,350.98. The company had a trading volume of 245,524 shares, compared to its average volume of 216,738. TransDigm Group Incorporated has a twelve month low of $935.84 and a twelve month high of $1,451.32. The stock has a market capitalization of $75.80 billion, a PE ratio of 49.98, a price-to-earnings-growth ratio of 1.88 and a beta of 1.43. The stock's 50 day moving average is $1,368.14 and its 200-day moving average is $1,316.15.

TransDigm Group (NYSE:TDG - Get Free Report) last posted its earnings results on Tuesday, August 6th. The aerospace company reported $9.00 EPS for the quarter, topping the consensus estimate of $7.77 by $1.23. The firm had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.01 billion. TransDigm Group had a net margin of 21.83% and a negative return on equity of 66.70%. The business's quarterly revenue was up 17.3% on a year-over-year basis. During the same period in the prior year, the business posted $6.55 earnings per share. On average, sell-side analysts anticipate that TransDigm Group Incorporated will post 30.71 EPS for the current year.

TransDigm Group Increases Dividend

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

Insider Buying and Selling at TransDigm Group

In other TransDigm Group news, Director W Nicholas Howley sold 5,472 shares of the company's stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $1,376.42, for a total transaction of $7,531,770.24. Following the completion of the sale, the director now directly owns 21,548 shares in the company, valued at $29,659,098.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Joel Reiss sold 3,000 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $1,401.75, for a total value of $4,205,250.00. Following the completion of the sale, the chief operating officer now owns 3,600 shares in the company, valued at approximately $5,046,300. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director W Nicholas Howley sold 5,472 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $1,376.42, for a total transaction of $7,531,770.24. Following the completion of the sale, the director now owns 21,548 shares of the company's stock, valued at approximately $29,659,098.16. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,944 shares of company stock worth $35,823,485 over the last ninety days. Company insiders own 4.96% of the company's stock.

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.