PNC Financial Services Group Inc. Decreases Position in TransDigm Group Incorporated (NYSE:TDG)

PNC Financial Services Group Inc. cut its stake in TransDigm Group Incorporated (NYSE:TDG) by 2.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,202 shares of the aerospace company’s stock after selling 389 shares during the quarter. PNC Financial Services Group Inc.’s holdings in TransDigm Group were worth $7,357,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of TDG. Bremer Bank National Association acquired a new stake in TransDigm Group in the 1st quarter valued at about $32,000. Riverstone Advisors LLC raised its position in TransDigm Group by 4.7% in the 1st quarter. Riverstone Advisors LLC now owns 7,475 shares of the aerospace company’s stock valued at $3,394,000 after purchasing an additional 333 shares in the last quarter. Advisor Group Inc. raised its position in TransDigm Group by 408.3% in the 1st quarter. Advisor Group Inc. now owns 2,745 shares of the aerospace company’s stock valued at $1,245,000 after purchasing an additional 2,205 shares in the last quarter. California State Teachers Retirement System raised its position in TransDigm Group by 0.4% in the 1st quarter. California State Teachers Retirement System now owns 80,686 shares of the aerospace company’s stock valued at $36,631,000 after purchasing an additional 295 shares in the last quarter. Finally, Parametric Portfolio Associates LLC raised its position in TransDigm Group by 3.1% in the 1st quarter. Parametric Portfolio Associates LLC now owns 240,980 shares of the aerospace company’s stock valued at $109,403,000 after purchasing an additional 7,189 shares in the last quarter. 99.08% of the stock is owned by institutional investors and hedge funds.

Shares of TDG stock traded up $7.72 during midday trading on Friday, hitting $483.80. The company had a trading volume of 556,300 shares, compared to its average volume of 346,126. The stock has a 50 day simple moving average of $465.56. TransDigm Group Incorporated has a 52-week low of $307.36 and a 52-week high of $501.17. The firm has a market capitalization of $25.45 billion, a PE ratio of 28.48, a price-to-earnings-growth ratio of 2.52 and a beta of 1.05.

TransDigm Group (NYSE:TDG) last announced its earnings results on Tuesday, May 7th. The aerospace company reported $4.21 earnings per share for the quarter, beating the consensus estimate of $3.73 by $0.48. TransDigm Group had a negative return on equity of 50.29% and a net margin of 19.44%. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same period last year, the business posted $3.79 EPS. The company’s revenue was up 28.2% on a year-over-year basis. As a group, research analysts forecast that TransDigm Group Incorporated will post 16.03 earnings per share for the current fiscal year.

A number of equities research analysts have issued reports on TDG shares. Goldman Sachs Group started coverage on TransDigm Group in a research report on Monday, March 18th. They issued a “buy” rating on the stock. Barclays reissued a “buy” rating on shares of TransDigm Group in a research report on Wednesday, May 15th. Longbow Research began coverage on TransDigm Group in a research report on Tuesday, April 9th. They set a “neutral” rating on the stock. Morgan Stanley began coverage on TransDigm Group in a research report on Tuesday, June 4th. They set an “equal weight” rating and a $520.00 target price on the stock. Finally, Cowen reissued a “buy” rating and set a $520.00 target price (up previously from $460.00) on shares of TransDigm Group in a research report on Monday, March 25th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $479.00.

In related news, Chairman W Nicholas Howley sold 17,083 shares of TransDigm Group stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $466.89, for a total value of $7,975,881.87. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Robert S. Henderson sold 10,000 shares of TransDigm Group stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $467.38, for a total value of $4,673,800.00. Following the completion of the sale, the vice president now owns 35,000 shares in the company, valued at $16,358,300. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 63,749 shares of company stock worth $29,720,926. Company insiders own 11.00% of the company’s stock.

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.

See Also: 52-Week High/Low

Institutional Ownership by Quarter for TransDigm Group (NYSE:TDG)

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