TransDigm Group Incorporated (NYSE:TDG) saw a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 2,690,000 shares, an increase of 7.6% from the September 30th total of 2,500,000 shares. Currently, 5.4% of the shares of the company are short sold. Based on an average trading volume of 303,000 shares, the short-interest ratio is presently 8.9 days.
Shares of TransDigm Group stock traded up $7.70 on Monday, hitting $567.48. 19,895 shares of the company traded hands, compared to its average volume of 227,850. The stock has a market capitalization of $29.88 billion, a P/E ratio of 33.41, a price-to-earnings-growth ratio of 2.49 and a beta of 0.95. TransDigm Group has a 52 week low of $311.46 and a 52 week high of $564.09. The business has a 50-day simple moving average of $526.34 and a 200 day simple moving average of $501.98.
In other TransDigm Group news, CEO Kevin M. Stein sold 9,900 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $554.37, for a total transaction of $5,488,263.00. Following the sale, the chief executive officer now owns 11,247 shares in the company, valued at approximately $6,234,999.39. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman W Nicholas Howley sold 17,083 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $542.62, for a total transaction of $9,269,577.46. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 301,733 shares of company stock worth $160,270,635. 11.00% of the stock is owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in TDG. Usca Ria LLC bought a new stake in TransDigm Group in the third quarter worth $30,000. Parkside Financial Bank & Trust boosted its stake in TransDigm Group by 46.8% during the third quarter. Parkside Financial Bank & Trust now owns 69 shares of the aerospace company’s stock worth $36,000 after buying an additional 22 shares during the period. Commonwealth Bank of Australia boosted its stake in TransDigm Group by 65.9% during the second quarter. Commonwealth Bank of Australia now owns 73 shares of the aerospace company’s stock worth $34,000 after buying an additional 29 shares during the period. Whittier Trust Co. boosted its stake in TransDigm Group by 1,825.0% during the third quarter. Whittier Trust Co. now owns 77 shares of the aerospace company’s stock worth $40,000 after buying an additional 73 shares during the period. Finally, Prime Capital Investment Advisors LLC purchased a new position in TransDigm Group during the third quarter worth $44,000. Hedge funds and other institutional investors own 95.67% of the company’s stock.
TDG has been the topic of a number of recent analyst reports. UBS Group raised their target price on shares of TransDigm Group to $605.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Canaccord Genuity lifted their price objective on shares of TransDigm Group from $575.00 to $620.00 and gave the company a “buy” rating in a research report on Friday. ValuEngine cut shares of TransDigm Group from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Barclays set a $610.00 price objective on shares of TransDigm Group and gave the company a “buy” rating in a research report on Friday, August 9th. Finally, Cowen reiterated a “buy” rating and set a $590.00 price objective on shares of TransDigm Group in a research report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company. TransDigm Group presently has an average rating of “Buy” and a consensus price target of $573.36.
TransDigm Group Company Profile
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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