JPMorgan Chase & Co. Boosts TransDigm Group (NYSE:TDG) Price Target to $1,435.00

TransDigm Group (NYSE:TDG) had its price objective lifted by JPMorgan Chase & Co. from $1,350.00 to $1,435.00 in a research note released on Wednesday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the aerospace company’s stock.

A number of other analysts have also recently issued reports on TDG. TD Cowen upped their target price on TransDigm Group from $1,300.00 to $1,400.00 and gave the company a buy rating in a research report on Wednesday, May 8th. Wells Fargo & Company decreased their target price on 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. Truist Financial upped their target price on TransDigm Group from $1,425.00 to $1,483.00 and gave the company a buy rating in a research report on Wednesday, July 17th. StockNews.com cut TransDigm Group from a buy rating to a hold rating in a research report on Monday, August 5th. Finally, Susquehanna increased their price objective on TransDigm Group from $1,200.00 to $1,250.00 and gave the stock a neutral rating in a research report on Wednesday, August 7th. Eight research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $1,438.24.

TransDigm Group Stock Down 2.6 %

TDG opened at $1,294.17 on Wednesday. The firm has a market cap of $72.62 billion, a P/E ratio of 51.34, a P/E/G ratio of 2.14 and a beta of 1.42. TransDigm Group has a 52 week low of $802.46 and a 52 week high of $1,380.83. The business has a fifty day simple moving average of $1,276.20 and a 200-day simple moving average of $1,262.52.

TransDigm Group (NYSE:TDG) last released its quarterly earnings data 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. The business had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.01 billion. TransDigm Group had a negative return on equity of 66.70% and a net margin of 21.83%. The business’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $6.55 EPS. Sell-side analysts expect that TransDigm Group will post 30.57 earnings per share for the current year.

Insider Transactions at TransDigm Group

In related news, CEO Kevin M. Stein sold 10,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 8,158 shares of the company’s stock, valued at approximately $10,019,981.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other TransDigm Group news, Director W Nicholas Howley sold 5,073 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $1,242.30, for a total transaction of $6,302,187.90. Following the completion of the transaction, the director now owns 21,548 shares of the company’s stock, valued at $26,769,080.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kevin M. Stein sold 10,000 shares of the firm’s 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 transaction, the chief executive officer now directly owns 8,158 shares of the company’s stock, valued at approximately $10,019,981.92. The disclosure for this sale can be found here. In the last three months, insiders sold 71,783 shares of company stock valued at $92,191,316. Corporate insiders own 4.96% of the company’s stock.

Hedge Funds Weigh In On TransDigm Group

Several hedge funds have recently bought and sold shares of TDG. Norges Bank purchased a new position in TransDigm Group during the fourth quarter worth $790,822,000. Capital World Investors increased its position in TransDigm Group by 14.3% during the first quarter. Capital World Investors now owns 3,535,539 shares of the aerospace company’s stock worth $4,354,369,000 after buying an additional 442,182 shares in the last quarter. JPMorgan Chase & Co. increased its position in TransDigm Group by 13.1% during the first quarter. JPMorgan Chase & Co. now owns 1,669,460 shares of the aerospace company’s stock worth $2,056,109,000 after buying an additional 192,962 shares in the last quarter. Darsana Capital Partners LP acquired a new stake in shares of TransDigm Group during the second quarter worth $210,806,000. Finally, Argent Capital Management LLC acquired a new stake in shares of TransDigm Group during the first quarter worth $75,910,000. 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.