Kentucky Retirement Systems Trims Stake in TransDigm Group Incorporated (NYSE:TDG)

Kentucky Retirement Systems lowered its holdings in TransDigm Group Incorporated (NYSE:TDG) by 4.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,223 shares of the aerospace company’s stock after selling 203 shares during the quarter. Kentucky Retirement Systems’ holdings in TransDigm Group were worth $5,201,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of TDG. Lazard Asset Management LLC grew its stake in TransDigm Group by 31.2% during the 1st quarter. Lazard Asset Management LLC now owns 395 shares of the aerospace company’s stock worth $486,000 after purchasing an additional 94 shares in the last quarter. LRI Investments LLC acquired a new position in TransDigm Group during the 1st quarter worth $160,000. Canada Pension Plan Investment Board grew its stake in TransDigm Group by 4.2% during the 1st quarter. Canada Pension Plan Investment Board now owns 128,229 shares of the aerospace company’s stock worth $157,927,000 after purchasing an additional 5,216 shares in the last quarter. Capital World Investors grew its stake in TransDigm Group by 14.3% during the 1st quarter. Capital World Investors now owns 3,535,539 shares of the aerospace company’s stock worth $4,354,369,000 after purchasing an additional 442,182 shares in the last quarter. Finally, Capital Research Global Investors grew its stake in TransDigm Group by 1.6% during the 1st quarter. Capital Research Global Investors now owns 1,965,640 shares of the aerospace company’s stock worth $2,420,882,000 after purchasing an additional 30,393 shares in the last quarter. Hedge funds and other institutional investors own 95.78% of the company’s stock.

Wall Street Analyst Weigh In

TDG has been the subject of several analyst reports. Stifel Nicolaus boosted their target price on TransDigm Group from $1,300.00 to $1,325.00 and gave the stock a “hold” rating in a research note on Friday, June 7th. Citigroup boosted their target price on TransDigm Group from $1,380.00 to $1,395.00 and gave the company a “buy” rating in a report on Thursday, April 4th. Susquehanna upped their price objective on TransDigm Group from $1,100.00 to $1,200.00 and gave the company a “neutral” rating in a research note on Wednesday, May 8th. Morgan Stanley upped their price objective on TransDigm Group from $1,275.00 to $1,550.00 and gave the company an “overweight” rating in a research note on Thursday, May 9th. Finally, KeyCorp upped their price objective on TransDigm Group from $1,325.00 to $1,440.00 and gave the company an “overweight” rating in a research note on Tuesday, May 28th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,417.69.

Insider Activity

In other news, Director W Nicholas Howley sold 197 shares of TransDigm Group stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $1,318.14, for a total value of $259,673.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director W Nicholas Howley sold 197 shares of TransDigm Group stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $1,318.14, for a total value of $259,673.58. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Kevin M. Stein sold 10,000 shares of TransDigm Group stock in a transaction on Friday, July 12th. The shares were sold at an average price of $1,248.60, for a total value of $12,486,000.00. Following the completion of the transaction, the chief executive officer now owns 8,158 shares in the company, valued at approximately $10,186,078.80. The disclosure for this sale can be found here. Insiders sold a total of 105,905 shares of company stock valued at $137,900,519 over the last quarter. Company insiders own 4.96% of the company’s stock.

TransDigm Group Price Performance

TransDigm Group stock traded up $6.44 during mid-day trading on Friday, hitting $1,234.86. 207,905 shares of the company were exchanged, compared to its average volume of 264,088. The business’s 50 day simple moving average is $1,297.49 and its two-hundred day simple moving average is $1,222.50. The company has a market capitalization of $69.10 billion, a P/E ratio of 48.98, a PEG ratio of 2.07 and a beta of 1.38. TransDigm Group Incorporated has a 12-month low of $802.46 and a 12-month high of $1,369.57.

TransDigm Group (NYSE:TDG) last released its quarterly earnings results on Tuesday, May 7th. The aerospace company reported $7.99 earnings per share for the quarter, topping the consensus estimate of $7.42 by $0.57. The company had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.88 billion. TransDigm Group had a negative return on equity of 63.35% and a net margin of 21.22%. TransDigm Group’s revenue was up 20.5% compared to the same quarter last year. During the same quarter last year, the business posted $5.39 earnings per share. Equities research analysts predict that TransDigm Group Incorporated will post 30.21 earnings per share for the current year.

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.