Envestnet Portfolio Solutions Inc. Increases Holdings in TransDigm Group Incorporated (NYSE:TDG)

Envestnet Portfolio Solutions Inc. raised its stake in shares of TransDigm Group Incorporated (NYSE:TDG) by 9.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 4,434 shares of the aerospace company’s stock after buying an additional 365 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in TransDigm Group were worth $5,619,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. State Street Corp raised its stake in 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 buying an additional 29,489 shares during the last quarter. Principal Financial Group Inc. raised its stake in TransDigm Group by 9.6% during the 4th quarter. Principal Financial Group Inc. now owns 2,126,274 shares of the aerospace company’s stock valued at $2,694,585,000 after buying an additional 185,422 shares during the last quarter. JPMorgan Chase & Co. raised its stake in TransDigm Group by 9.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,997,827 shares of the aerospace company’s stock valued at $2,851,160,000 after buying an additional 173,642 shares during the last quarter. FMR LLC raised its stake in TransDigm Group by 2.3% during the 3rd quarter. FMR LLC now owns 1,920,181 shares of the aerospace company’s stock valued at $2,740,348,000 after buying an additional 43,604 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in TransDigm Group by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,133,443 shares of the aerospace company’s stock valued at $1,612,583,000 after buying an additional 19,314 shares during the last quarter. 95.78% of the stock is currently owned by hedge funds and other institutional investors.

TransDigm Group Stock Down 1.3 %

Shares of TDG stock opened at $1,341.80 on Wednesday. The stock has a market cap of $75.25 billion, a P/E ratio of 47.33, a PEG 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. The company’s fifty day simple moving average is $1,330.19 and its two-hundred day simple moving average is $1,327.02.

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

Analysts Set New Price Targets

A number of brokerages have weighed in on TDG. Wells Fargo & Company upgraded shares of TransDigm Group from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $1,375.00 to $1,500.00 in a research note on Friday, February 7th. UBS Group raised shares of TransDigm Group from a “neutral” rating to a “buy” rating and set a $1,595.00 price objective for the company in a research report on Monday, February 24th. Deutsche Bank Aktiengesellschaft downgraded shares of TransDigm Group from a “buy” rating to a “hold” rating and cut their price objective for the company from $1,444.00 to $1,348.00 in a research report on Thursday, January 2nd. Truist Financial boosted their price objective on shares of TransDigm Group from $1,482.00 to $1,534.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Finally, Barclays reissued an “equal weight” rating and set a $1,500.00 price objective on shares of TransDigm Group in a research report on Monday, January 6th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, TransDigm Group has a consensus rating of “Moderate Buy” and an average target price of $1,472.47.

Insider Activity

In other news, CEO Kevin M. Stein sold 20,000 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $1,267.21, for a total transaction of $25,344,200.00. Following the sale, the chief executive officer now directly owns 8,158 shares in the company, valued at approximately $10,337,899.18. This represents a 71.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Joel Reiss sold 3,000 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $1,257.09, for a total transaction of $3,771,270.00. Following the sale, the chief operating officer now owns 3,600 shares in the company, valued at $4,525,524. This represents a 45.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 124,594 shares of company stock worth $165,337,618. 4.09% of the stock is currently owned by corporate insiders.

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.