Short Interest in TransDigm Group Incorporated (NYSE:TDG) Grows By 19.6%

TransDigm Group Incorporated (NYSE:TDG) was the target of a significant increase in short interest in March. As of March 15th, there was short interest totalling 1,220,000 shares, an increase of 19.6% from the February 28th total of 1,020,000 shares. Approximately 2.3% of the shares of the company are sold short. Based on an average daily trading volume, of 264,200 shares, the days-to-cover ratio is currently 4.6 days.

TransDigm Group Trading Down 2.1 %

TDG traded down $29.36 during midday trading on Thursday, hitting $1,370.21. 184,445 shares of the company traded hands, compared to its average volume of 242,793. The company has a market capitalization of $76.85 billion, a price-to-earnings ratio of 48.38, a PEG ratio of 2.76 and a beta of 1.38. The business has a 50 day simple moving average of $1,345.69 and a two-hundred day simple moving average of $1,330.65. TransDigm Group has a 52-week low of $1,176.31 and a 52-week high of $1,451.32.

TransDigm Group (NYSE:TDG) last issued its earnings results on Tuesday, February 4th. The aerospace company reported $7.57 EPS for the quarter, topping analysts’ consensus estimates of $6.73 by $0.84. TransDigm Group had a net margin of 20.76% and a negative return on equity of 42.87%. The company had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the previous year, the firm earned $7.16 earnings per share. TransDigm Group’s quarterly revenue was up 12.1% compared to the same quarter last year. Equities research analysts anticipate that TransDigm Group will post 35.13 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on TDG. Truist Financial boosted their target price on TransDigm Group from $1,482.00 to $1,534.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Susquehanna increased their target price on TransDigm Group from $1,250.00 to $1,300.00 and gave the company a “neutral” rating in a research report on Wednesday. Wells Fargo & Company increased their target price on shares of TransDigm Group from $1,500.00 to $1,580.00 and gave the company an “overweight” rating in a research report on Tuesday, March 25th. Barclays reiterated an “equal weight” rating and issued a $1,500.00 price target on shares of TransDigm Group in a research note on Monday, January 6th. Finally, UBS Group upgraded TransDigm Group from a “neutral” rating to a “buy” rating and set a $1,595.00 target price for the company in a research note on Monday, February 24th. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, TransDigm Group has a consensus rating of “Moderate Buy” and a consensus target price of $1,480.12.

Insiders Place Their Bets

In related news, COO Joel Reiss sold 3,000 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $1,359.06, for a total value of $4,077,180.00. Following the completion of the transaction, the chief operating officer now owns 3,600 shares of the company’s stock, valued at approximately $4,892,616. This represents a 45.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Kevin M. Stein sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $1,354.08, for a total value of $27,081,600.00. Following the completion of the transaction, the chief executive officer now owns 8,158 shares of the company’s stock, valued at $11,046,584.64. The trade was a 71.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 124,594 shares of company stock worth $165,646,468 over the last quarter. 4.09% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On TransDigm Group

Several large investors have recently modified their holdings of the business. Erste Asset Management GmbH purchased a new position in TransDigm Group during the third quarter worth about $29,000. Capital Advisors Ltd. LLC lifted its holdings in shares of TransDigm Group by 200.0% in the 4th quarter. Capital Advisors Ltd. LLC now owns 24 shares of the aerospace company’s stock worth $30,000 after acquiring an additional 16 shares during the last quarter. Trust Co. of Vermont lifted its holdings in shares of TransDigm Group by 150.0% in the 4th quarter. Trust Co. of Vermont now owns 25 shares of the aerospace company’s stock worth $32,000 after acquiring an additional 15 shares during the last quarter. Park Square Financial Group LLC acquired a new stake in TransDigm Group in the 4th quarter valued at approximately $32,000. Finally, Versant Capital Management Inc raised its position in TransDigm Group by 225.0% in the fourth quarter. Versant Capital Management Inc now owns 26 shares of the aerospace company’s stock valued at $33,000 after purchasing an additional 18 shares during the period. Institutional investors and hedge funds 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.