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

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TransDigm Group (NYSE:TDG) had its target price hoisted by analysts at Canaccord Genuity from $575.00 to $620.00 in a report issued on Friday, Stock Target Advisor reports. The brokerage currently has a “buy” rating on the aerospace company’s stock. Canaccord Genuity’s price target would indicate a potential upside of 10.76% from the company’s previous close.

A number of other brokerages have also recently weighed in on TDG. Credit Suisse Group lifted their price target on shares of TransDigm Group from $582.66 to $584.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. UBS Group lifted their price target on shares of TransDigm Group to $605.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Cowen reiterated a “buy” rating and set a $590.00 price target on shares of TransDigm Group in a research report on Wednesday, September 18th. SunTrust Banks lifted their price target on shares of TransDigm Group to $560.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Finally, Barclays set a $610.00 price target on shares of TransDigm Group and gave the company a “buy” rating in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $567.91.

Shares of TDG opened at $559.78 on Friday. TransDigm Group has a 1-year low of $311.46 and a 1-year high of $564.09. The stock has a market cap of $29.31 billion, a PE ratio of 32.95, a P/E/G ratio of 2.44 and a beta of 0.95. The firm has a 50-day simple moving average of $526.34 and a two-hundred 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 of the company’s stock, valued at $6,234,999.39. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Bernt G. Iversen II sold 8,333 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $536.99, for a total transaction of $4,474,737.67. Following the sale, the insider now directly owns 12,643 shares in the company, valued at approximately $6,789,164.57. The disclosure for this sale can be found here. Insiders sold 325,066 shares of company stock valued at $172,826,022 in the last quarter. 11.89% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the business. Municipal Employees Retirement System of Michigan increased its holdings in shares of TransDigm Group by 3.0% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 690 shares of the aerospace company’s stock valued at $359,000 after acquiring an additional 20 shares during the period. Wetherby Asset Management Inc. increased its holdings in shares of TransDigm Group by 0.5% in the 3rd quarter. Wetherby Asset Management Inc. now owns 4,085 shares of the aerospace company’s stock valued at $2,127,000 after acquiring an additional 21 shares during the period. Parkside Financial Bank & Trust increased its holdings in shares of TransDigm Group by 46.8% in the 3rd quarter. Parkside Financial Bank & Trust now owns 69 shares of the aerospace company’s stock valued at $36,000 after acquiring an additional 22 shares during the period. Brighton Jones LLC increased its holdings in shares of TransDigm Group by 5.1% in the 3rd quarter. Brighton Jones LLC now owns 536 shares of the aerospace company’s stock valued at $279,000 after acquiring an additional 26 shares during the period. Finally, Hartford Investment Management Co. increased its holdings in shares of TransDigm Group by 0.5% in the 3rd quarter. Hartford Investment Management Co. now owns 5,384 shares of the aerospace company’s stock valued at $2,803,000 after acquiring an additional 26 shares during the period. 99.67% of the stock is currently owned by institutional investors.

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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