TransDigm Group (NYSE:TDG) Hits New 12-Month High After Better-Than-Expected Earnings

Shares of TransDigm Group Incorporated (NYSE:TDG) hit a new 52-week high during trading on Wednesday following a stronger than expected earnings report. The company traded as high as $1,325.36 and last traded at $1,314.00, with a volume of 41776 shares changing hands. The stock had previously closed at $1,310.40.

The aerospace company reported $7.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.42 by $0.57. The firm had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.88 billion. TransDigm Group had a negative return on equity of 59.61% and a net margin of 20.80%. TransDigm Group’s revenue was up 20.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.39 EPS.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on TDG shares. StockNews.com raised shares of TransDigm Group from a “hold” rating to a “buy” rating in a research note on Tuesday, April 9th. Royal Bank of Canada boosted their price objective on shares of TransDigm Group from $1,300.00 to $1,400.00 and gave the company an “outperform” rating in a research report on Wednesday. Robert W. Baird raised their target price on shares of TransDigm Group from $1,290.00 to $1,357.00 and gave the stock an “outperform” rating in a research report on Wednesday. KeyCorp boosted their price target on TransDigm Group from $1,220.00 to $1,325.00 and gave the company an “overweight” rating in a report on Monday, April 22nd. Finally, UBS Group raised their price objective on TransDigm Group from $1,302.00 to $1,403.00 and gave the stock a “neutral” rating in a report on Wednesday. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,311.81.

Insider Activity at TransDigm Group

In other TransDigm Group news, COO Joel Reiss sold 3,000 shares of TransDigm Group stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $1,233.10, for a total transaction of $3,699,300.00. Following the transaction, the chief operating officer now directly owns 3,600 shares of the company’s stock, valued at $4,439,160. The sale was disclosed in a filing with the SEC, which is available at this link. In other TransDigm Group news, CEO Kevin M. Stein sold 10,000 shares of TransDigm Group stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $1,216.16, for a total transaction of $12,161,600.00. Following the transaction, the chief executive officer now directly owns 8,158 shares of the company’s stock, valued at $9,921,433.28. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Joel Reiss sold 3,000 shares of TransDigm Group stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $1,233.10, for a total transaction of $3,699,300.00. Following the transaction, the chief operating officer now directly owns 3,600 shares in the company, valued at $4,439,160. The disclosure for this sale can be found here. Over the last three months, insiders purchased 11 shares of company stock worth $5,950 and sold 59,088 shares worth $69,841,110. 4.96% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of TransDigm Group by 1.8% during the third quarter. Vanguard Group Inc. now owns 5,903,014 shares of the aerospace company’s stock worth $4,977,008,000 after purchasing an additional 104,433 shares in the last quarter. Deutsche Bank AG increased its stake in shares of TransDigm Group by 1,947.8% in the third quarter. Deutsche Bank AG now owns 3,391,382 shares of the aerospace company’s stock worth $2,859,376,000 after buying an additional 3,225,771 shares during the last quarter. Capital World Investors increased its stake in shares of TransDigm Group by 4.0% in the fourth quarter. Capital World Investors now owns 3,093,357 shares of the aerospace company’s stock worth $3,129,240,000 after buying an additional 120,058 shares during the last quarter. FMR LLC increased its stake in shares of TransDigm Group by 9.0% in the third quarter. FMR LLC now owns 1,651,413 shares of the aerospace company’s stock worth $1,392,355,000 after buying an additional 136,834 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of TransDigm Group by 46.1% in the third quarter. JPMorgan Chase & Co. now owns 1,107,497 shares of the aerospace company’s stock worth $933,765,000 after buying an additional 349,409 shares during the last quarter. 95.78% of the stock is owned by institutional investors and hedge funds.

TransDigm Group Stock Up 0.3 %

The business’s 50 day moving average is $1,222.89 and its 200-day moving average is $1,087.09. The firm has a market cap of $73.34 billion, a P/E ratio of 55.98, a price-to-earnings-growth ratio of 2.63 and a beta of 1.40.

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.