Fred Alger Management LLC Cuts Position in TransDigm Group Incorporated (NYSE:TDG)

Fred Alger Management LLC lowered its position in shares of TransDigm Group Incorporated (NYSE:TDG) by 12.1% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 157,493 shares of the aerospace company’s stock after selling 21,673 shares during the quarter. TransDigm Group comprises approximately 1.1% of Fred Alger Management LLC’s holdings, making the stock its 18th largest holding. Fred Alger Management LLC owned approximately 0.28% of TransDigm Group worth $224,763,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. First Personal Financial Services purchased a new stake in TransDigm Group during the third quarter worth approximately $29,000. Fortitude Family Office LLC boosted its position in TransDigm Group by 283.3% during the 2nd quarter. Fortitude Family Office LLC now owns 23 shares of the aerospace company’s stock worth $29,000 after purchasing an additional 17 shares during the period. DT Investment Partners LLC boosted its position in TransDigm Group by 68.8% during the 3rd quarter. DT Investment Partners LLC now owns 27 shares of the aerospace company’s stock worth $39,000 after purchasing an additional 11 shares during the period. Meeder Asset Management Inc. increased its holdings in TransDigm Group by 275.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 30 shares of the aerospace company’s stock valued at $38,000 after purchasing an additional 22 shares in the last quarter. Finally, Hershey Financial Advisers LLC purchased a new position in TransDigm Group in the second quarter valued at about $41,000. Institutional investors and hedge funds own 95.78% of the company’s stock.

Insider Transactions at TransDigm Group

In other TransDigm Group news, COO Joel Reiss sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $1,401.75, for a total value of $4,205,250.00. Following the transaction, the chief operating officer now owns 3,600 shares in the company, valued at approximately $5,046,300. This represents a 45.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director W Nicholas Howley sold 5,472 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $1,376.42, for a total value of $7,531,770.24. Following the sale, the director now owns 21,548 shares of the company’s stock, valued at approximately $29,659,098.16. This represents a 20.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,944 shares of company stock valued at $23,541,085 in the last three months. 4.96% of the stock is currently owned by corporate insiders.

TransDigm Group Price Performance

NYSE TDG opened at $1,249.33 on Friday. The company has a market capitalization of $70.25 billion, a P/E ratio of 48.80, a PEG ratio of 2.81 and a beta of 1.43. TransDigm Group Incorporated has a 12 month low of $949.99 and a 12 month high of $1,451.32. The company’s 50 day simple moving average is $1,349.97 and its 200 day simple moving average is $1,316.58.

TransDigm Group Increases Dividend

The business also recently disclosed a special dividend, which was paid on Friday, October 18th. Stockholders of record on Friday, October 4th were given a dividend of $75.00 per share. The ex-dividend date of this dividend was Friday, October 4th. This is an increase from TransDigm Group’s previous special dividend of $32.50.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on TDG shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $1,500.00 target price on shares of TransDigm Group in a research note on Wednesday, August 7th. Jefferies Financial Group lowered their price objective 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. Morgan Stanley upped their target price on shares of TransDigm Group from $1,550.00 to $1,575.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. StockNews.com raised shares of TransDigm Group from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. Finally, Wells Fargo & Company decreased their price objective 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. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, TransDigm Group currently has an average rating of “Moderate Buy” and a consensus target price of $1,461.82.

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.