TransDigm Group (NYSE:TDG) Hits New 1-Year High Following Dividend Announcement

TransDigm Group Incorporated (NYSE:TDG)’s stock price reached a new 52-week high on Monday following a dividend announcement from the company. The stock traded as high as $1,423.02 and last traded at $1,411.34, with a volume of 5518 shares. The stock had previously closed at $1,408.03.

The newly announced dividend which will be paid on Friday, October 18th. Shareholders of record on Friday, October 4th will be issued a dividend of $75.00 per share. The ex-dividend date is Friday, October 4th. This is a boost from TransDigm Group’s previous dividend of $32.50.

Analyst Upgrades and Downgrades

TDG has been the topic of a number of analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $1,500.00 target price on shares of TransDigm Group in a report on Wednesday, August 7th. StockNews.com cut TransDigm Group from a “buy” rating to a “hold” rating in a report on Monday, August 5th. UBS Group decreased their price objective on TransDigm Group from $1,466.00 to $1,423.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft raised their price objective on TransDigm Group from $1,435.00 to $1,524.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. Finally, KeyCorp raised their price objective on TransDigm Group from $1,325.00 to $1,440.00 and gave the stock an “overweight” rating in a report on Tuesday, May 28th. Eight investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,438.24.

TransDigm Group Price Performance

The stock has a fifty day moving average price of $1,300.33 and a 200-day moving average price of $1,280.03. The company has a market cap of $79.51 billion, a PE ratio of 56.36, a price-to-earnings-growth ratio of 2.16 and a beta of 1.42.

TransDigm Group (NYSE:TDG) last released its earnings results on Tuesday, August 6th. The aerospace company reported $9.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.77 by $1.23. The company had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.01 billion. TransDigm Group had a negative return on equity of 66.70% and a net margin of 21.83%. The company’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.55 earnings per share. On average, equities analysts anticipate that TransDigm Group Incorporated will post 30.69 earnings per share for the current year.

Insider Transactions at TransDigm Group

In other news, Director W Nicholas Howley sold 5,472 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $1,376.42, for a total value of $7,531,770.24. Following the transaction, the director now directly owns 21,548 shares of the company’s stock, valued at $29,659,098.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director W Nicholas Howley sold 5,472 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $1,376.42, for a total value of $7,531,770.24. Following the transaction, the director now directly owns 21,548 shares of the company’s stock, valued at $29,659,098.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Kevin M. Stein sold 10,000 shares of the company’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $1,248.60, for a total transaction of $12,486,000.00. Following the completion of the transaction, the chief executive officer now directly owns 8,158 shares in the company, valued at $10,186,078.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 36,545 shares of company stock valued at $46,454,828. 4.96% of the stock is owned by insiders.

Hedge Funds Weigh In On TransDigm Group

Hedge funds have recently bought and sold shares of the business. Fortitude Family Office LLC increased its position in TransDigm Group by 283.3% during 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 last quarter. ORG Partners LLC acquired a new stake in shares of TransDigm Group in the first quarter valued at about $30,000. Meeder Asset Management Inc. grew its position in shares of TransDigm Group by 275.0% in the second 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 during the last quarter. Central Pacific Bank Trust Division bought a new position in shares of TransDigm Group in the first quarter worth about $39,000. Finally, Hershey Financial Advisers LLC bought a new stake in TransDigm Group during the 2nd quarter valued at approximately $41,000. 95.78% of the stock is owned by institutional investors and hedge funds.

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.