TransDigm Group (NYSE:TDG) Price Target Cut to $1,563.00 by Analysts at Citigroup

TransDigm Group (NYSE:TDG) had its price target lowered by stock analysts at Citigroup from $1,648.00 to $1,563.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the aerospace company’s stock. Citigroup’s price objective points to a potential upside of 17.57% from the company’s previous close.

Several other analysts have also issued reports on the company. Northcoast Research assumed coverage on TransDigm Group in a research note on Thursday, August 1st. They issued a “neutral” rating on the stock. Truist Financial upped their price objective on shares of TransDigm Group from $1,425.00 to $1,483.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Susquehanna lifted their target price on shares of TransDigm Group from $1,200.00 to $1,250.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Morgan Stanley upped their price target 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. Finally, JPMorgan Chase & Co. lifted their price objective on shares of TransDigm Group from $1,435.00 to $1,555.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Eight investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,461.82.

TransDigm Group Stock Performance

NYSE TDG opened at $1,329.39 on Wednesday. The company has a market capitalization of $74.59 billion, a PE ratio of 49.18, a price-to-earnings-growth ratio of 1.88 and a beta of 1.43. TransDigm Group has a 52-week low of $886.76 and a 52-week high of $1,451.32. The company has a 50-day simple moving average of $1,369.27 and a 200 day simple moving average of $1,315.00.

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

Insider Activity

In related news, CEO Kevin M. Stein sold 10,000 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $1,228.24, for a total value of $12,282,400.00. Following the completion of the transaction, the chief executive officer now directly owns 8,158 shares in the company, valued at approximately $10,019,981.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Kevin M. Stein sold 10,000 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $1,228.24, for a total value of $12,282,400.00. Following the completion of the transaction, the chief executive officer now directly owns 8,158 shares in the company, valued at approximately $10,019,981.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Joel Reiss sold 3,000 shares of the stock in a transaction dated 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 transaction, the chief operating officer now owns 3,600 shares in the company, valued at $4,953,204. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In 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 corporate insiders.

Institutional Investors Weigh In On TransDigm Group

A number of institutional investors have recently made changes to their positions in the business. First Personal Financial Services bought a new stake in TransDigm Group in the third quarter worth $29,000. Fortitude Family Office LLC increased its holdings in shares of TransDigm Group by 283.3% in the second quarter. Fortitude Family Office LLC now owns 23 shares of the aerospace company’s stock worth $29,000 after buying an additional 17 shares during the period. ORG Partners LLC bought a new stake in shares of TransDigm Group in the 1st quarter valued at about $30,000. DT Investment Partners LLC boosted its holdings in TransDigm Group by 68.8% during the 3rd quarter. DT Investment Partners LLC now owns 27 shares of the aerospace company’s stock valued at $39,000 after acquiring an additional 11 shares during the period. Finally, Meeder Asset Management Inc. grew its position in TransDigm Group by 275.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 30 shares of the aerospace company’s stock worth $38,000 after acquiring an additional 22 shares during the last quarter. Hedge funds and other institutional investors own 95.78% of the company’s stock.

TransDigm Group Company Profile

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.