Wells Fargo & Company Issues Pessimistic Forecast for TransDigm Group (NYSE:TDG) Stock Price

TransDigm Group (NYSE:TDG) had its price objective decreased by Wells Fargo & Company from $1,500.00 to $1,375.00 in a report released on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the aerospace company’s stock.

TDG has been the topic of a number of other reports. JPMorgan Chase & Co. raised their price objective on shares of TransDigm Group from $1,435.00 to $1,555.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of TransDigm Group from $1,524.00 to $1,577.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. StockNews.com lowered shares of TransDigm Group from a “buy” rating to a “hold” rating in a report on Friday, December 6th. KeyCorp lifted their price target on shares of TransDigm Group from $1,440.00 to $1,500.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Finally, Jefferies Financial Group cut their price target on shares of TransDigm Group from $1,625.00 to $1,515.00 and set a “buy” rating on the stock in a research note on Tuesday, August 13th. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, TransDigm Group presently has an average rating of “Moderate Buy” and a consensus price target of $1,465.47.

TransDigm Group Trading Up 1.5 %

Shares of TDG opened at $1,259.12 on Wednesday. TransDigm Group has a twelve month low of $972.08 and a twelve month high of $1,451.32. The firm’s fifty day simple moving average is $1,319.18 and its 200-day simple moving average is $1,313.64. The firm has a market capitalization of $70.80 billion, a price-to-earnings ratio of 49.18, a PEG ratio of 2.86 and a beta of 1.39.

TransDigm Group Increases Dividend

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

Insider Activity

In related news, Director W Nicholas Howley sold 5,472 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $1,402.85, for a total transaction of $7,676,395.20. Following the sale, the director now owns 21,548 shares of the company’s stock, valued at approximately $30,228,611.80. The trade was a 20.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 sale, the chief operating officer now directly owns 3,600 shares in the company, valued at approximately $4,953,204. This represents a 45.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,944 shares of company stock valued at $23,541,085 over the last quarter. Corporate insiders own 4.96% of the company’s stock.

Institutional Trading of TransDigm Group

Institutional investors have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC boosted its holdings in 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 buying an additional 567 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in TransDigm Group by 26.0% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 3,826 shares of the aerospace company’s stock worth $4,888,000 after buying an additional 789 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in shares of TransDigm Group by 8.6% in the third quarter. CIBC Asset Management Inc now owns 8,169 shares of the aerospace company’s stock valued at $11,658,000 after purchasing an additional 644 shares in the last quarter. Westfield Capital Management Co. LP lifted its holdings in shares of TransDigm Group by 2.4% in the third quarter. Westfield Capital Management Co. LP now owns 372,061 shares of the aerospace company’s stock valued at $530,980,000 after purchasing an additional 8,655 shares in the last quarter. Finally, Swiss National Bank lifted its holdings in shares of TransDigm Group by 0.9% in the third quarter. Swiss National Bank now owns 166,100 shares of the aerospace company’s stock valued at $237,046,000 after purchasing an additional 1,400 shares in the last quarter. Hedge funds and other institutional investors own 95.78% of the company’s stock.

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.