Wedge Capital Management L L P NC Trims Stake in TransDigm Group Incorporated (NYSE:TDG)

Wedge Capital Management L L P NC reduced its position in TransDigm Group Incorporated (NYSE:TDG) by 31.3% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 49,928 shares of the aerospace company’s stock after selling 22,753 shares during the period. TransDigm Group accounts for about 1.1% of Wedge Capital Management L L P NC’s holdings, making the stock its 19th biggest holding. Wedge Capital Management L L P NC owned 0.09% of TransDigm Group worth $63,789,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Fortitude Family Office LLC raised its stake in TransDigm Group by 283.3% during the 2nd quarter. Fortitude Family Office LLC now owns 23 shares of the aerospace company’s stock valued at $29,000 after acquiring an additional 17 shares during the last quarter. ORG Partners LLC purchased a new stake in TransDigm Group during the 1st quarter valued at approximately $30,000. Oakworth Capital Inc. purchased a new stake in TransDigm Group during the 4th quarter valued at approximately $26,000. Central Pacific Bank Trust Division purchased a new stake in TransDigm Group during the 1st quarter valued at approximately $39,000. Finally, Oliver Lagore Vanvalin Investment Group raised its stake in TransDigm Group by 48.0% during the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 37 shares of the aerospace company’s stock valued at $38,000 after acquiring an additional 12 shares during the last quarter. 95.78% of the stock is owned by hedge funds and other institutional investors.

TransDigm Group Price Performance

TransDigm Group stock traded up $23.98 during mid-day trading on Thursday, hitting $1,272.34. 202,217 shares of the company were exchanged, compared to its average volume of 226,133. The business’s 50 day simple moving average is $1,273.16 and its two-hundred day simple moving average is $1,239.93. The company has a market capitalization of $71.20 billion, a P/E ratio of 49.52, a PEG ratio of 2.06 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, August 6th. The aerospace company reported $9.00 earnings per share for the quarter, topping the consensus estimate of $7.77 by $1.23. The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.01 billion. TransDigm Group had a negative return on equity of 66.70% and a net margin of 21.83%. TransDigm Group’s revenue was up 17.3% compared to the same quarter last year. During the same quarter last year, the business posted $6.55 earnings per share. Equities research analysts predict that TransDigm Group Incorporated will post 30.21 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Kevin M. Stein sold 10,000 shares of TransDigm Group stock in a transaction on 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 sale, the chief executive officer now owns 8,158 shares of the company’s stock, valued at $10,019,981.92. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other TransDigm Group news, COO Joel Reiss sold 3,000 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $1,241.60, for a total transaction of $3,724,800.00. Following the transaction, the chief operating officer now owns 3,600 shares in the company, valued at $4,469,760. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Kevin M. Stein sold 10,000 shares of the business’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 transaction, the chief executive officer now owns 8,158 shares in the company, valued at approximately $10,019,981.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 102,708 shares of company stock valued at $133,146,005. Corporate insiders own 4.96% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on TDG. Bank of America upped their price objective on TransDigm Group from $1,310.00 to $1,460.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. Robert W. Baird increased their target price on TransDigm Group from $1,290.00 to $1,357.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 8th. KeyCorp increased their target price on TransDigm Group from $1,325.00 to $1,440.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 28th. Morgan Stanley increased their target price on TransDigm Group from $1,550.00 to $1,575.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Finally, UBS Group cut their target price on TransDigm Group from $1,466.00 to $1,423.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Eight equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, TransDigm Group presently has an average rating of “Moderate Buy” and an average target price of $1,422.94.

TransDigm Group 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.