Principal Financial Group Inc. Has $2.77 Billion Stock Position in TransDigm Group Incorporated (NYSE:TDG)

Principal Financial Group Inc. lowered its holdings in TransDigm Group Incorporated (NYSE:TDG) by 2.9% during the 3rd quarter, Holdings Channel reports. The firm owned 1,940,852 shares of the aerospace company’s stock after selling 58,906 shares during the period. TransDigm Group makes up about 1.5% of Principal Financial Group Inc.’s investment portfolio, making the stock its 6th largest holding. Principal Financial Group Inc.’s holdings in TransDigm Group were worth $2,769,848,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Fortitude Family Office LLC grew its holdings in TransDigm Group by 283.3% during 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. ORG Partners LLC bought a new position in TransDigm Group during the first quarter worth about $30,000. Meeder Asset Management Inc. increased its stake in shares of TransDigm Group by 275.0% in the second quarter. Meeder Asset Management Inc. now owns 30 shares of the aerospace company’s stock worth $38,000 after purchasing an additional 22 shares in the last quarter. Central Pacific Bank Trust Division purchased a new stake in shares of TransDigm Group during the 1st quarter valued at approximately $39,000. Finally, DT Investment Partners LLC grew its position in shares of TransDigm Group by 68.8% in the third quarter. DT Investment Partners LLC now owns 27 shares of the aerospace company’s stock valued at $39,000 after purchasing an additional 11 shares in the last quarter. 95.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft upped their price target on TransDigm Group from $1,524.00 to $1,577.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. StockNews.com lowered TransDigm Group from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Wells Fargo & Company dropped their target price on shares of TransDigm Group from $1,390.00 to $1,350.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 7th. Truist Financial upped their target price on shares of TransDigm Group from $1,425.00 to $1,483.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Finally, Northcoast Research started coverage on TransDigm Group in a research report on Thursday, August 1st. They set a “neutral” rating on the stock. Eight analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,461.82.

TransDigm Group Price Performance

Shares of TDG opened at $1,380.72 on Thursday. TransDigm Group Incorporated has a one year low of $879.35 and a one year high of $1,451.32. The firm has a market capitalization of $77.47 billion, a PE ratio of 51.08, a price-to-earnings-growth ratio of 1.79 and a beta of 1.43. The company has a 50-day simple moving average of $1,369.27 and a two-hundred day simple moving average of $1,315.00.

TransDigm Group (NYSE:TDG) last announced its quarterly earnings data on Tuesday, August 6th. The aerospace company reported $9.00 EPS for the quarter, beating the consensus estimate of $7.77 by $1.23. The business had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.01 billion. TransDigm Group had a negative return on equity of 66.70% and a net margin of 21.83%. The company’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same quarter last year, the firm posted $6.55 earnings per share. Analysts expect that TransDigm Group Incorporated will post 30.71 EPS for the current fiscal year.

TransDigm Group Increases Dividend

The firm also recently disclosed a special dividend, which was paid on Friday, October 18th. Investors of record on Friday, October 4th were paid a dividend of $75.00 per share. The ex-dividend date was Friday, October 4th. This is a positive change from TransDigm Group’s previous special dividend of $32.50.

Insiders Place Their Bets

In other news, COO Joel Reiss sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $1,375.89, for a total value of $4,127,670.00. Following the sale, the chief operating officer now directly owns 3,600 shares of the company’s stock, valued at $4,953,204. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director W Nicholas Howley sold 5,472 shares of the stock in a transaction that occurred on 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 sale, the director now 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 filing with the SEC, which is available through the SEC website. Also, COO Joel Reiss sold 3,000 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $1,375.89, for a total value of $4,127,670.00. Following the sale, the chief operating officer now owns 3,600 shares in the company, valued at approximately $4,953,204. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,944 shares of company stock worth $35,823,485. 4.96% of the stock is currently owned by company insiders.

About TransDigm Group

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.