TransDigm Group INC (NYSE:TDG) President and CEO Kevin Stein recently sold a significant amount of company stock, according to the latest filings with the Securities and Exchange Commission. The transactions, which occurred on April 12, involved the sale of TransDigm shares worth over $12 million.
Stein, who leads the aircraft components manufacturer, engaged in multiple transactions selling shares at prices ranging from $1206.7377 to $1227.189. The total value of the shares sold amounted to $12,161,564. This series of sales was executed at varying prices within the stated range, and the exact number of shares sold at each price point is available upon request to the Commission, the issuer, or any security holder of the issuer.
In addition to the sales, the SEC filing also revealed that Stein exercised options to acquire 10,000 shares of common stock at a price of $270.88 per share, totaling an investment of $2,708,800. This exercise price has been adjusted for dividends declared since August 1, 2022, as noted in the footnotes of the filing.
Following these transactions, Stein's direct holdings in the company have changed, as reflected in the updated shares owned following each transaction. The shares were held indirectly through the Fortuna Trust dated June 1, 2018.
TransDigm Group INC, headquartered in Cleveland, Ohio, specializes in the design and manufacture of aircraft parts and components. The company's stock performance and executive transactions are closely watched by investors for insights into the company's financial health and management's confidence in the firm's future prospects.
These transactions come as part of the regular financial activities of corporate executives, who often buy and sell shares of their own companies for various personal financial reasons. It is important for investors to note that such sales and purchases can be based on individual financial planning and do not necessarily indicate the company's operational performance.
Investors and stakeholders can access full details of the transactions upon request, as the reporting person has committed to providing full information regarding the number of shares sold at each separate price.
InvestingPro Insights
As President and CEO Kevin Stein's recent stock transactions draw attention, TransDigm Group INC (NYSE:TDG) showcases several financial metrics that may be of interest to investors. The company has demonstrated an impressive Gross Profit Margin of 58.62% over the last twelve months as of Q1 2024, highlighting the efficiency of their operations in the aircraft components sector. This is coupled with a Revenue Growth of 23.88% in the same period, indicating a robust expansion in their market presence.
TransDigm's stock has also experienced a significant 1 Year Price Total Return of 70.07%, reflecting investor confidence and market performance. This aligns with the InvestingPro Tip that the stock has had a strong return over the last year. Additionally, the company's stock is trading near its 52-week high, at 98.96% of this peak value, which may suggest a bullish outlook among traders and investors.
For those interested in deeper analytics and further InvestingPro Tips, TransDigm Group INC is featured with additional insights. There are 16 more tips available that could provide a more comprehensive understanding of the company's financial health and stock performance. These tips can be accessed through the InvestingPro platform at https://www.investing.com/pro/TDG. For those seeking to enhance their investment strategy, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, and unlock the full potential of InvestingPro's financial analysis tools.
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