TransDigm Group (NYSE:TDG) PT Raised to $570.00 at Morgan Stanley

TransDigm Group (NYSE:TDG) had its price target hoisted by equities researchers at Morgan Stanley from $520.00 to $570.00 in a report issued on Wednesday, BenzingaRatingsTable reports. The firm presently has an “equal weight” rating on the aerospace company’s stock. Morgan Stanley’s target price would suggest a potential upside of 3.63% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. Berenberg Bank set a $540.00 price target on shares of TransDigm Group and gave the stock a “buy” rating in a report on Thursday, June 13th. Zacks Investment Research raised shares of TransDigm Group from a “hold” rating to a “buy” rating and set a $513.00 price target on the stock in a report on Tuesday, April 16th. Canaccord Genuity reissued a “buy” rating and issued a $520.00 price target (up from $460.00) on shares of TransDigm Group in a report on Wednesday, May 8th. UBS Group boosted their price target on shares of TransDigm Group to $605.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Finally, Credit Suisse Group upped their price objective on shares of TransDigm Group from $539.00 to $617.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $524.17.

Shares of NYSE TDG traded up $1.83 during trading on Wednesday, hitting $550.04. The stock had a trading volume of 2,715 shares, compared to its average volume of 333,656. TransDigm Group has a 12 month low of $307.36 and a 12 month high of $555.27. The firm has a market capitalization of $29.05 billion, a P/E ratio of 32.37, a PEG ratio of 2.72 and a beta of 1.06. The company’s fifty day moving average price is $496.82.

TransDigm Group (NYSE:TDG) last posted its earnings results on Tuesday, August 6th. The aerospace company reported $4.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.01 by $0.94. TransDigm Group had a net margin of 15.26% and a negative return on equity of 59.21%. The firm had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the prior year, the business posted $3.59 EPS. The business’s revenue was up 69.1% compared to the same quarter last year. As a group, equities research analysts predict that TransDigm Group will post 16.92 EPS for the current year.

In other news, Director John Staer sold 2,500 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $464.67, for a total value of $1,161,675.00. Following the sale, the director now directly owns 1,691 shares of the company’s stock, valued at $785,756.97. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman W Nicholas Howley sold 17,083 shares of the stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $475.09, for a total transaction of $8,115,962.47. The disclosure for this sale can be found here. Over the last three months, insiders sold 63,749 shares of company stock worth $31,514,641. Insiders own 11.00% of the company’s stock.

Several hedge funds have recently bought and sold shares of TDG. Lenox Wealth Management Inc. bought a new position in TransDigm Group during the first quarter valued at approximately $25,000. Bremer Bank National Association bought a new position in TransDigm Group during the first quarter valued at approximately $32,000. Princeton Global Asset Management LLC bought a new position in TransDigm Group during the first quarter valued at approximately $34,000. Commonwealth Bank of Australia grew its position in TransDigm Group by 65.9% during the second quarter. Commonwealth Bank of Australia now owns 73 shares of the aerospace company’s stock valued at $34,000 after acquiring an additional 29 shares during the last quarter. Finally, Cornerstone Advisors Inc. grew its position in TransDigm Group by 147.4% during the second quarter. Cornerstone Advisors Inc. now owns 94 shares of the aerospace company’s stock valued at $45,000 after acquiring an additional 56 shares during the last quarter. Institutional investors own 98.92% of the company’s stock.

About TransDigm Group

TransDigm Group Incorporated designs, produces, and supplies aircraft components in the United States and internationally. The company operates in three segments: Power & Control, Airframe, and Non-aviation. 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, databus and power controls, hoists, winches and lifting devices, and cargo loading and handling systems.

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Analyst Recommendations for TransDigm Group (NYSE:TDG)

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