Covenant Partners LLC Makes New $390,000 Investment in TransDigm Group Incorporated (NYSE:TDG)

Covenant Partners LLC bought a new stake in shares of TransDigm Group Incorporated (NYSE:TDG) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 273 shares of the aerospace company’s stock, valued at approximately $390,000.

Several other hedge funds and other institutional investors have also modified their holdings of TDG. Wellington Management Group LLP boosted its position in TransDigm Group by 22.2% during the 4th quarter. Wellington Management Group LLP now owns 2,640 shares of the aerospace company’s stock worth $2,671,000 after acquiring an additional 479 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in TransDigm Group by 10.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 3,331 shares of the aerospace company’s stock valued at $4,102,000 after purchasing an additional 315 shares in the last quarter. Hennion & Walsh Asset Management Inc. acquired a new position in TransDigm Group in the 1st quarter valued at approximately $325,000. Red Door Wealth Management LLC lifted its position in TransDigm Group by 5.2% in the 1st quarter. Red Door Wealth Management LLC now owns 6,757 shares of the aerospace company’s stock worth $8,322,000 after buying an additional 332 shares in the last quarter. Finally, Miracle Mile Advisors LLC boosted its stake in shares of TransDigm Group by 1.9% during the 1st quarter. Miracle Mile Advisors LLC now owns 597 shares of the aerospace company’s stock valued at $735,000 after buying an additional 11 shares during the period. Institutional investors and hedge funds own 95.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TDG. JPMorgan Chase & Co. lifted their price objective on TransDigm Group from $1,435.00 to $1,555.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Wells Fargo & Company lowered their price target on TransDigm Group from $1,390.00 to $1,350.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 7th. Jefferies Financial Group dropped their price objective on TransDigm Group from $1,625.00 to $1,515.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th. Deutsche Bank Aktiengesellschaft boosted their target price 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. Finally, Royal Bank of Canada restated an “outperform” rating and set a $1,500.00 price target on shares of TransDigm Group in a research note on Wednesday, August 7th. Eight equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,451.94.

Insider Transactions at TransDigm Group

In other 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 value of $12,282,400.00. Following the sale, the chief executive officer now owns 8,158 shares of the company’s stock, valued at $10,019,981.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, COO Joel Reiss sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $1,375.89, for a total value of $4,127,670.00. Following the completion of the sale, the chief operating officer now directly owns 3,600 shares of the company’s stock, valued at $4,953,204. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Kevin M. Stein sold 10,000 shares of the business’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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,944 shares of company stock valued at $35,823,485 in the last ninety days. 4.96% of the stock is currently owned by corporate insiders.

TransDigm Group Price Performance

Shares of TransDigm Group stock traded up $9.27 during trading on Friday, hitting $1,354.83. 133,470 shares of the company were exchanged, compared to its average volume of 214,949. The firm has a market capitalization of $75.81 billion, a P/E ratio of 53.74, a price-to-earnings-growth ratio of 1.84 and a beta of 1.43. The firm’s fifty day moving average price is $1,366.86 and its 200 day moving average price is $1,307.95. 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 announced its earnings results on Tuesday, August 6th. The aerospace company reported $9.00 earnings per share for the quarter, topping analysts’ consensus estimates of $7.77 by $1.23. TransDigm Group had a net margin of 21.83% and a negative return on equity of 66.70%. The firm had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same period in the prior year, the business earned $6.55 EPS. The company’s revenue for the quarter was up 17.3% compared to the same quarter last year. As a group, equities research analysts anticipate that TransDigm Group Incorporated will post 30.71 earnings per share for the current year.

TransDigm Group Increases Dividend

The company also recently declared a special dividend, which was paid on Friday, October 18th. Shareholders of record on Friday, October 4th were given a dividend of $75.00 per share. The ex-dividend date of this dividend was Friday, October 4th. This is an increase from TransDigm Group’s previous special dividend of $32.50.

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.