Citigroup Lowers TransDigm Group (NYSE:TDG) Price Target to $1,563.00

TransDigm Group (NYSE:TDG) had its price target cut by equities researchers at Citigroup from $1,648.00 to $1,563.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the aerospace company’s stock. Citigroup’s price target points to a potential upside of 13.73% from the company’s previous close.

TDG has been the topic of several other reports. Wells Fargo & Company lowered their price target on shares of TransDigm Group from $1,390.00 to $1,350.00 and set an “equal weight” rating for the company in a report on Wednesday, August 7th. Jefferies Financial Group decreased their price target on shares of TransDigm Group from $1,625.00 to $1,515.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th. KeyCorp boosted their target price on shares of TransDigm Group from $1,440.00 to $1,500.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. StockNews.com lowered TransDigm Group from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. Finally, JPMorgan Chase & Co. increased their price target on shares of TransDigm Group from $1,435.00 to $1,555.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Eight investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, TransDigm Group has a consensus rating of “Moderate Buy” and an average target price of $1,461.82.

TransDigm Group Stock Performance

NYSE TDG traded up $36.67 on Wednesday, reaching $1,374.27. The stock had a trading volume of 210,262 shares, compared to its average volume of 214,342. The business’s 50-day moving average price is $1,368.32 and its 200 day moving average price is $1,314.53. The stock has a market cap of $77.11 billion, a P/E ratio of 50.99, a price-to-earnings-growth ratio of 1.79 and a beta of 1.43. TransDigm Group has a 12-month low of $879.35 and a 12-month high of $1,451.32.

TransDigm Group (NYSE:TDG) last released 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. TransDigm Group had a net margin of 21.83% and a negative return on equity of 66.70%. The company had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.01 billion. During the same quarter last year, the business earned $6.55 EPS. The business’s revenue was up 17.3% on a year-over-year basis. On average, sell-side analysts predict that TransDigm Group will post 30.71 earnings per share for the current year.

Insider Buying and Selling

In other news, Director W Nicholas Howley sold 5,472 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $1,402.85, for a total transaction of $7,676,395.20. Following the completion of the sale, the director now owns 21,548 shares of the company’s stock, valued at approximately $30,228,611.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, COO Joel Reiss sold 3,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $1,375.89, for a total transaction of $4,127,670.00. Following the sale, the chief operating officer now owns 3,600 shares of the company’s stock, valued at $4,953,204. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director W Nicholas Howley sold 5,472 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $1,402.85, for a total value of $7,676,395.20. Following the transaction, the director now owns 21,548 shares of the company’s stock, valued at approximately $30,228,611.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,944 shares of company stock valued at $35,823,485 over the last three months. 4.96% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On TransDigm Group

A number of institutional investors have recently added to or reduced their stakes in the company. CIBC Asset Management Inc boosted its position in shares of TransDigm Group by 8.6% in the third quarter. CIBC Asset Management Inc now owns 8,169 shares of the aerospace company’s stock valued at $11,658,000 after acquiring an additional 644 shares during the period. ING Groep NV bought a new stake in shares of TransDigm Group during the third quarter worth $14,991,000. Metis Global Partners LLC boosted its holdings in shares of TransDigm Group by 2.1% during the 3rd quarter. Metis Global Partners LLC now owns 1,791 shares of the aerospace company’s stock valued at $2,556,000 after acquiring an additional 36 shares in the last quarter. Snider Financial Group increased its holdings in TransDigm Group by 6.5% in the 3rd quarter. Snider Financial Group now owns 2,256 shares of the aerospace company’s stock worth $3,220,000 after purchasing an additional 137 shares in the last quarter. Finally, Huntington National Bank raised its position in TransDigm Group by 2.6% in the third quarter. Huntington National Bank now owns 778 shares of the aerospace company’s stock valued at $1,110,000 after purchasing an additional 20 shares during the last quarter. 95.78% of the stock is currently owned by institutional investors and hedge funds.

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.