Truist Financial Issues Pessimistic Forecast for TransDigm Group (NYSE:TDG) Stock Price

TransDigm Group (NYSE:TDG - Get Free Report) had its price objective cut by equities researchers at Truist Financial from $1,534.00 to $1,490.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the aerospace company's stock. Truist Financial's price target would suggest a potential upside of 10.39% from the company's current price.

A number of other analysts also recently issued reports on TDG. Deutsche Bank Aktiengesellschaft downgraded shares of TransDigm Group from a "buy" rating to a "hold" rating and lowered their price objective for the company from $1,444.00 to $1,348.00 in a report on Thursday, January 2nd. Wells Fargo & Company decreased their price target on TransDigm Group from $1,410.00 to $1,375.00 and set an "overweight" rating for the company in a research note on Tuesday. UBS Group upgraded shares of TransDigm Group from a "neutral" rating to a "buy" rating and set a $1,595.00 price objective on the stock in a research note on Monday, February 24th. Northcoast Research raised TransDigm Group from a "neutral" rating to a "buy" rating and set a $1,500.00 price target on the stock in a research report on Wednesday, April 9th. Finally, Barclays reaffirmed an "equal weight" rating and issued a $1,500.00 price objective on shares of TransDigm Group in a research report on Monday, January 6th. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $1,464.41.

TransDigm Group Trading Up 1.0 %

Shares of NYSE:TDG traded up $13.43 during trading on Thursday, hitting $1,349.73. 34,537 shares of the company's stock traded hands, compared to its average volume of 252,461. The company has a 50-day moving average price of $1,337.49 and a 200-day moving average price of $1,323.36. TransDigm Group has a 52 week low of $1,176.31 and a 52 week high of $1,451.32. The company has a market cap of $75.70 billion, a price-to-earnings ratio of 47.46, a price-to-earnings-growth ratio of 2.76 and a beta of 1.08.

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

Insider Buying and Selling at TransDigm Group

In other TransDigm Group news, CEO Kevin M. Stein sold 20,000 shares of the firm's stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $1,354.08, for a total value of $27,081,600.00. Following the completion of the sale, the chief executive officer now directly owns 8,158 shares of the company's stock, valued at $11,046,584.64. This trade represents a 71.03 % 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 business's stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $1,359.06, for a total transaction of $4,077,180.00. Following the completion of the sale, the chief operating officer now directly owns 3,600 shares in the company, valued at approximately $4,892,616. This trade represents a 45.45 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 124,594 shares of company stock worth $167,165,496. 4.09% of the stock is owned by corporate insiders.

Institutional Trading of TransDigm Group

A number of large investors have recently modified their holdings of TDG. GAMMA Investing LLC grew its position in TransDigm Group by 177,412.3% in the first quarter. GAMMA Investing LLC now owns 1,240,811 shares of the aerospace company's stock worth $1,716,401,000 after acquiring an additional 1,240,112 shares in the last quarter. Norges Bank bought a new position in TransDigm Group during the fourth quarter valued at approximately $973,353,000. Proficio Capital Partners LLC lifted its holdings in shares of TransDigm Group by 286,247.1% in the 4th quarter. Proficio Capital Partners LLC now owns 730,185 shares of the aerospace company's stock worth $925,349,000 after acquiring an additional 729,930 shares during the last quarter. Edgewood Management LLC purchased a new position in TransDigm Group in the 4th quarter worth $399,595,000. Finally, JPMorgan Chase & Co. boosted its position in TransDigm Group by 10.4% during the fourth quarter. JPMorgan Chase & Co. now owns 2,204,649 shares of the aerospace company's stock valued at $2,793,908,000 after buying an additional 206,822 shares during the period. Institutional investors own 95.78% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.