TransDigm Group (NYSE:TDG) Upgraded to Overweight at Wells Fargo & Company

Wells Fargo & Company upgraded shares of TransDigm Group (NYSE:TDG) from an equal weight rating to an overweight rating in a research report released on Friday morning, MarketBeat Ratings reports. The brokerage currently has $1,500.00 target price on the aerospace company’s stock, up from their prior target price of $1,375.00.

TDG has been the subject of several other reports. KeyCorp increased their price target on shares of 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. Barclays reissued an “equal weight” rating and issued a $1,500.00 price target on shares of TransDigm Group in a research report on Monday, January 6th. Truist Financial lifted their price objective on TransDigm Group from $1,482.00 to $1,534.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Citigroup raised their price target on TransDigm Group from $1,563.00 to $1,600.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Finally, StockNews.com upgraded shares of TransDigm Group from a “hold” rating to a “buy” rating in a research note on Wednesday, January 8th. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,462.35.

TransDigm Group Price Performance

TDG opened at $1,329.35 on Friday. TransDigm Group has a one year low of $1,100.86 and a one year high of $1,451.32. The business has a 50 day simple moving average of $1,293.18 and a two-hundred day simple moving average of $1,313.89. The firm has a market capitalization of $74.56 billion, a price-to-earnings ratio of 46.89, a PEG ratio of 2.86 and a beta of 1.40.

TransDigm Group (NYSE:TDG) last released its quarterly earnings results on Tuesday, February 4th. The aerospace company reported $7.57 earnings per share for the quarter, beating the consensus estimate of $6.73 by $0.84. The business had revenue of $2.01 billion for the quarter, compared to analysts’ expectations 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 for the quarter was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $7.16 earnings per share. As a group, sell-side analysts expect that TransDigm Group will post 34.11 EPS for the current fiscal year.

Insider Buying and Selling

In other news, COO Joel Reiss sold 3,000 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $1,359.06, for a total value of $4,077,180.00. Following the transaction, the chief operating officer now owns 3,600 shares of the company’s stock, valued at approximately $4,892,616. The trade was a 45.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kevin M. Stein sold 20,000 shares of the firm’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $1,248.07, for a total transaction of $24,961,400.00. Following the transaction, the chief executive officer now directly owns 8,158 shares of the company’s stock, valued at $10,181,755.06. The trade was a 71.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 89,525 shares of company stock worth $112,769,801. 4.09% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of TDG. State Street Corp lifted its holdings in shares of TransDigm Group by 1.3% in the 3rd quarter. State Street Corp now owns 2,229,199 shares of the aerospace company’s stock valued at $3,181,357,000 after acquiring an additional 29,489 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of TransDigm Group by 9.6% in the 4th quarter. Principal Financial Group Inc. now owns 2,126,274 shares of the aerospace company’s stock valued at $2,694,585,000 after purchasing an additional 185,422 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of TransDigm Group by 9.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,997,827 shares of the aerospace company’s stock valued at $2,851,160,000 after purchasing an additional 173,642 shares during the last quarter. FMR LLC raised its holdings in TransDigm Group by 2.3% during the 3rd quarter. FMR LLC now owns 1,920,181 shares of the aerospace company’s stock valued at $2,740,348,000 after buying an additional 43,604 shares during the period. Finally, Geode Capital Management LLC lifted its position in TransDigm Group by 1.7% in the third quarter. Geode Capital Management LLC now owns 1,133,443 shares of the aerospace company’s stock worth $1,612,583,000 after buying an additional 19,314 shares during the last quarter. 95.78% of the stock is owned by hedge funds and other institutional investors.

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.