Canaccord Genuity Raises TransDigm Group (NYSE:TDG) Price Target to $620.00

TransDigm Group (NYSE:TDG) had its target price hoisted by Canaccord Genuity from $575.00 to $620.00 in a research note released on Friday morning, Stock Target Advisor reports. The firm currently has a buy rating on the aerospace company’s stock.

A number of other research firms have also recently commented on TDG. UBS Group increased their price target on shares of TransDigm Group to $605.00 and gave the company a buy rating in a report on Wednesday, August 7th. Credit Suisse Group increased their price target on shares of TransDigm Group from $582.66 to $584.00 and gave the company an outperform rating in a report on Wednesday, October 16th. Cowen reiterated a buy rating and set a $590.00 price target on shares of TransDigm Group in a report on Wednesday, September 18th. Barclays set a $610.00 price target on shares of TransDigm Group and gave the company a buy rating in a report on Friday, August 9th. Finally, Jefferies Financial Group increased their price target on shares of TransDigm Group from $480.00 to $550.00 and gave the company a hold rating in a report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company’s stock. TransDigm Group has a consensus rating of Buy and a consensus price target of $573.36.

NYSE:TDG opened at $567.68 on Friday. The company’s 50 day moving average price is $528.60 and its 200-day moving average price is $503.17. TransDigm Group has a 52 week low of $311.46 and a 52 week high of $568.83. The stock has a market cap of $29.88 billion, a price-to-earnings ratio of 33.41, a PEG ratio of 2.49 and a beta of 0.95.

In related news, CEO Kevin M. Stein sold 9,900 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $519.08, for a total transaction of $5,138,892.00. Following the transaction, the chief executive officer now owns 11,247 shares in the company, valued at $5,838,092.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Bernt G. Iversen II sold 8,333 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $526.56, for a total transaction of $4,387,824.48. Following the transaction, the executive vice president now owns 12,643 shares in the company, valued at approximately $6,657,298.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 158,608 shares of company stock worth $83,980,987. 11.00% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of the stock. Tiedemann Advisors LLC bought a new position in TransDigm Group during the third quarter valued at approximately $265,000. Insight Wealth Strategies LLC bought a new position in TransDigm Group during the third quarter valued at approximately $714,000. Corient Capital Partners LLC bought a new position in TransDigm Group in the third quarter worth approximately $213,000. Banco Santander S.A. bought a new position in TransDigm Group in the third quarter worth approximately $209,000. Finally, Northwestern Mutual Investment Management Company LLC raised its position in TransDigm Group by 1.9% in the third quarter. Northwestern Mutual Investment Management Company LLC now owns 1,891 shares of the aerospace company’s stock worth $985,000 after acquiring an additional 35 shares during the period. Institutional investors own 95.67% 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.

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Analyst Recommendations for TransDigm Group (NYSE:TDG)

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