Procyon Advisors LLC Lowers Holdings in TransDigm Group Incorporated (NYSE:TDG)

Procyon Advisors LLC decreased its holdings in TransDigm Group Incorporated (NYSE:TDG) by 4.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,709 shares of the aerospace company’s stock after selling 77 shares during the quarter. Procyon Advisors LLC’s holdings in TransDigm Group were worth $2,438,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in TDG. Fortitude Family Office LLC lifted its stake in TransDigm Group by 283.3% in the second quarter. Fortitude Family Office LLC now owns 23 shares of the aerospace company’s stock worth $29,000 after acquiring an additional 17 shares during the last quarter. ORG Partners LLC purchased a new position in TransDigm Group in the first quarter worth approximately $30,000. Meeder Asset Management Inc. lifted its position in shares of TransDigm Group by 275.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 30 shares of the aerospace company’s stock worth $38,000 after buying an additional 22 shares during the last quarter. Central Pacific Bank Trust Division purchased a new stake in shares of TransDigm Group during the 1st quarter worth approximately $39,000. Finally, Hershey Financial Advisers LLC purchased a new stake in shares of TransDigm Group during the 2nd quarter worth approximately $41,000. Hedge funds and other institutional investors own 95.78% of the company’s stock.

Insiders Place Their Bets

In other TransDigm Group news, CEO Kevin M. Stein sold 10,000 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $1,228.24, for a total transaction of $12,282,400.00. Following the sale, the chief executive officer now directly owns 8,158 shares in the company, valued at approximately $10,019,981.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Kevin M. Stein sold 10,000 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $1,228.24, for a total value of $12,282,400.00. Following the sale, the chief executive officer now directly owns 8,158 shares in the company, valued at $10,019,981.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Joel Reiss sold 3,000 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $1,375.89, for a total transaction of $4,127,670.00. Following the completion of the sale, the chief operating officer now owns 3,600 shares in the company, valued at $4,953,204. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,472 shares of company stock worth $23,941,840. Corporate insiders own 4.96% of the company’s stock.

TransDigm Group Stock Performance

Shares of TDG opened at $1,412.15 on Tuesday. The stock has a market capitalization of $79.02 billion, a P/E ratio of 56.02, a P/E/G ratio of 1.84 and a beta of 1.43. The company’s fifty day moving average is $1,343.39 and its two-hundred day moving average is $1,299.49. TransDigm Group Incorporated has a 1 year low of $811.42 and a 1 year high of $1,451.32.

TransDigm Group (NYSE:TDG) last issued its earnings results on Tuesday, August 6th. The aerospace company reported $9.00 EPS for the quarter, topping the consensus estimate of $7.77 by $1.23. The company had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.01 billion. TransDigm Group had a net margin of 21.83% and a negative return on equity of 66.70%. The business’s revenue was up 17.3% on a year-over-year basis. During the same period in the previous year, the firm earned $6.55 EPS. Sell-side analysts predict that TransDigm Group Incorporated will post 30.71 EPS for the current year.

TransDigm Group Increases Dividend

The business also recently announced a special dividend, which will be paid on Friday, October 18th. Shareholders of record on Friday, October 4th will be given a dividend of $75.00 per share. This is a positive change from TransDigm Group’s previous special dividend of $32.50. The ex-dividend date of this dividend is Friday, October 4th.

Wall Street Analysts Forecast Growth

TDG has been the subject of several recent analyst reports. Wells Fargo & Company reduced their price objective on shares of 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. Northcoast Research initiated coverage on shares of TransDigm Group in a research report on Thursday, August 1st. They set a “neutral” rating for the company. Royal Bank of Canada restated an “outperform” rating and set a $1,500.00 price objective on shares of TransDigm Group in a research report on Wednesday, August 7th. JPMorgan Chase & Co. boosted their price objective on shares of TransDigm Group from $1,435.00 to $1,555.00 and gave the stock a “neutral” rating in a research report on Monday. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of TransDigm Group from $1,524.00 to $1,577.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Eight 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 currently has a consensus rating of “Moderate Buy” and an average price target of $1,448.41.

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.