Riggs Asset Managment Co. Inc. Grows Stock Holdings in TransDigm Group Incorporated (NYSE:TDG)

Riggs Asset Managment Co. Inc. raised its stake in shares of TransDigm Group Incorporated (NYSE:TDG) by 2.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,932 shares of the aerospace company’s stock after acquiring an additional 112 shares during the period. TransDigm Group makes up 1.9% of Riggs Asset Managment Co. Inc.’s investment portfolio, making the stock its 14th biggest holding. Riggs Asset Managment Co. Inc.’s holdings in TransDigm Group were worth $7,039,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of TransDigm Group by 17.0% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 3,898 shares of the aerospace company’s stock worth $4,980,000 after purchasing an additional 567 shares during the period. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of TransDigm Group by 26.0% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 3,826 shares of the aerospace company’s stock valued at $4,888,000 after acquiring an additional 789 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of TransDigm Group by 0.9% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 131,149 shares of the aerospace company’s stock worth $161,523,000 after acquiring an additional 1,142 shares during the period. BNP Paribas Financial Markets raised its holdings in TransDigm Group by 35.7% during the first quarter. BNP Paribas Financial Markets now owns 70,881 shares of the aerospace company’s stock worth $87,297,000 after purchasing an additional 18,655 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its position in TransDigm Group by 4.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 19,322 shares of the aerospace company’s stock valued at $23,781,000 after purchasing an additional 819 shares during the period. 95.78% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other TransDigm Group news, CEO Kevin M. Stein sold 10,000 shares of TransDigm Group stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $1,228.24, for a total transaction of $12,282,400.00. Following the transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through 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 approximately $29,659,098.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Kevin M. Stein sold 10,000 shares of TransDigm Group 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 directly owns 8,158 shares of the company’s stock, valued at approximately $10,019,981.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,944 shares of company stock worth $35,823,485. 4.96% of the stock is owned by corporate insiders.

TransDigm Group Trading Up 0.7 %

NYSE:TDG traded up $9.27 during mid-day trading on Friday, hitting $1,354.83. The stock had a trading volume of 133,470 shares, compared to its average volume of 214,949. TransDigm Group Incorporated has a 52 week low of $811.42 and a 52 week high of $1,451.32. The stock has a market capitalization of $75.81 billion, a price-to-earnings ratio of 53.74, a P/E/G ratio of 1.84 and a beta of 1.43. The company has a 50 day simple moving average of $1,366.86 and a 200-day simple moving average of $1,308.60.

TransDigm Group (NYSE:TDG) last posted its quarterly earnings data on Tuesday, August 6th. The aerospace company reported $9.00 EPS for the quarter, beating 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 business had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same quarter last year, the business earned $6.55 earnings per share. The business’s revenue for the quarter was up 17.3% on a year-over-year basis. 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 firm also recently announced a special dividend, which was paid on Friday, October 18th. Stockholders of record on Friday, October 4th were given a $75.00 dividend. The ex-dividend date was Friday, October 4th. This is a boost from TransDigm Group’s previous special dividend of $32.50.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on TDG shares. UBS Group cut their target price on TransDigm Group from $1,466.00 to $1,423.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Wells Fargo & Company decreased their target price on shares of TransDigm Group from $1,390.00 to $1,350.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 7th. Susquehanna increased their price target on shares of TransDigm Group from $1,200.00 to $1,250.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. KeyCorp increased their target price on shares of TransDigm Group from $1,440.00 to $1,500.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Truist Financial boosted their price target on TransDigm Group from $1,425.00 to $1,483.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Eight equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,451.94.

About TransDigm Group

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.