Corebridge Financial Inc. Sells 18 Shares of TransDigm Group Incorporated (NYSE:TDG)

Corebridge Financial Inc. cut its position in shares of TransDigm Group Incorporated (NYSE:TDG) by 0.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,859 shares of the aerospace company’s stock after selling 18 shares during the period. Corebridge Financial Inc.’s holdings in TransDigm Group were worth $17,563,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of TDG. Vanguard Group Inc. increased its holdings in TransDigm Group by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 6,270,803 shares of the aerospace company’s stock valued at $7,946,863,000 after buying an additional 79,284 shares during the period. State Street Corp boosted its position in shares of TransDigm Group by 1.3% during 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 in the last quarter. Principal Financial Group Inc. increased its stake in TransDigm Group by 9.6% in the fourth quarter. Principal Financial Group Inc. now owns 2,126,274 shares of the aerospace company’s stock valued at $2,694,585,000 after acquiring an additional 185,422 shares during the period. JPMorgan Chase & Co. raised its position in TransDigm Group by 9.5% in the third quarter. JPMorgan Chase & Co. now owns 1,997,827 shares of the aerospace company’s stock worth $2,851,160,000 after purchasing an additional 173,642 shares in the last quarter. Finally, FMR LLC lifted its stake in TransDigm Group by 2.3% during the third quarter. FMR LLC now owns 1,920,181 shares of the aerospace company’s stock worth $2,740,348,000 after purchasing an additional 43,604 shares during the period. 95.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at TransDigm Group

In other news, COO Joel Reiss sold 3,000 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was 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 directly owns 3,600 shares in the company, valued at $4,892,616. This trade represents a 45.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director W Nicholas Howley sold 5,472 shares of TransDigm Group stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $1,296.77, for a total value of $7,095,925.44. Following the sale, the director now directly owns 21,548 shares of the company’s stock, valued at approximately $27,942,799.96. This trade 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 124,594 shares of company stock worth $165,646,468 in the last quarter. 4.09% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

TDG has been the topic of several analyst reports. Truist Financial upped 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 increased their price objective on TransDigm Group from $1,563.00 to $1,600.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Deutsche Bank Aktiengesellschaft downgraded shares of TransDigm Group from a “buy” rating to a “hold” rating and reduced their target price for the company from $1,444.00 to $1,348.00 in a research note on Thursday, January 2nd. Wells Fargo & Company upgraded shares of TransDigm Group from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $1,375.00 to $1,500.00 in a research report on Friday, February 7th. Finally, UBS Group raised shares of TransDigm Group from a “neutral” rating to a “buy” rating and set a $1,595.00 price objective on the stock in a research note on Monday, February 24th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, TransDigm Group has a consensus rating of “Moderate Buy” and a consensus price target of $1,472.47.

TransDigm Group Stock Performance

NYSE:TDG opened at $1,382.82 on Tuesday. The stock’s fifty day moving average price is $1,337.26 and its two-hundred day moving average price is $1,327.53. The company has a market cap of $77.56 billion, a price-to-earnings ratio of 48.78, a P/E/G ratio of 2.76 and a beta of 1.38. TransDigm Group Incorporated has a 52-week low of $1,176.31 and a 52-week high of $1,451.32.

TransDigm Group (NYSE:TDG) last posted its quarterly earnings results on Tuesday, February 4th. The aerospace company reported $7.57 earnings per share (EPS) 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 negative return on equity of 42.87% and a net margin of 20.76%. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the business earned $7.16 earnings per share. On average, equities analysts predict that TransDigm Group Incorporated will post 35.13 EPS for the current fiscal 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.