Truist Financial Forecasts Strong Price Appreciation for TransDigm Group (NYSE:TDG) Stock

TransDigm Group (NYSE:TDG) had its price objective lifted by analysts at Truist Financial from $1,482.00 to $1,534.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the aerospace company’s stock. Truist Financial’s price objective indicates a potential upside of 18.67% from the company’s current price.

A number of other equities research analysts have also recently commented on the stock. Wells Fargo & Company decreased their target price on shares of TransDigm Group from $1,500.00 to $1,375.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 11th. Citigroup lifted their target price on shares of TransDigm Group from $1,563.00 to $1,600.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Deutsche Bank Aktiengesellschaft lowered TransDigm Group from a “buy” rating to a “hold” rating and cut their price target for the stock from $1,444.00 to $1,348.00 in a research note on Thursday, January 2nd. KeyCorp boosted their price objective on TransDigm Group from $1,440.00 to $1,500.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Finally, Barclays reiterated an “equal weight” rating and set a $1,500.00 target price on shares of TransDigm Group in a research report on Monday, January 6th. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, TransDigm Group currently has an average rating of “Moderate Buy” and an average price target of $1,455.00.

TransDigm Group Stock Down 0.6 %

Shares of TDG opened at $1,292.62 on Tuesday. The business has a 50-day simple moving average of $1,279.71 and a two-hundred day simple moving average of $1,306.06. TransDigm Group has a 52 week low of $1,017.80 and a 52 week high of $1,451.32. The stock has a market cap of $72.68 billion, a price-to-earnings ratio of 50.49, a PEG ratio of 2.89 and a beta of 1.38.

Insider Activity at TransDigm Group

In other news, CEO Kevin M. Stein sold 20,000 shares of the firm’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $1,267.21, for a total value of $25,344,200.00. Following the completion of the sale, the chief executive officer now owns 8,158 shares in the company, valued at approximately $10,337,899.18. This trade represents a 71.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert J. Small sold 38,053 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $1,248.78, for a total transaction of $47,519,825.34. Following the transaction, the director now owns 567,323 shares in the company, valued at $708,461,615.94. The trade was a 6.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 86,525 shares of company stock valued at $108,692,621. Insiders own 4.96% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of TDG. Oppenheimer & Co. Inc. lifted its stake in shares of TransDigm Group by 20.3% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 1,787 shares of the aerospace company’s stock worth $2,283,000 after acquiring an additional 301 shares during the last quarter. Parallel Advisors LLC lifted its position in shares of TransDigm Group by 11.0% during the second quarter. Parallel Advisors LLC now owns 424 shares of the aerospace company’s stock worth $542,000 after purchasing an additional 42 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its stake in shares of TransDigm Group by 17.6% during the second quarter. Oppenheimer Asset Management Inc. now owns 1,553 shares of the aerospace company’s stock valued at $1,984,000 after purchasing an additional 232 shares during the period. Envestnet Asset Management Inc. grew its holdings in shares of TransDigm Group by 9.4% in the second quarter. Envestnet Asset Management Inc. now owns 72,671 shares of the aerospace company’s stock worth $92,846,000 after purchasing an additional 6,258 shares during the last quarter. Finally, J.W. Cole Advisors Inc. purchased a new position in TransDigm Group in the 2nd quarter worth about $293,000. Hedge funds and other institutional investors own 95.78% of the company’s stock.

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.