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TDG

TransDigm

$277.90

-0.77 (-0.28%)

16:12
10/14/16
10/14
16:12
10/14/16
16:12

TransDigm declares $24 per share special cash dividend

TransDigm Group announced that its board of directors has authorized and declared a special cash dividend of $24.00 on each outstanding share of common stock and cash dividend equivalent payments under options granted under its stock option plans.The record date for the special dividend is October 24, 2016, and the payment date for the dividend is November 1, 2016. TransDigm Group also announced that it received the funding of the previously announced incremental term loans. TransDigm Group incurred $650 million of incremental term loans on October 14, 2016 and expects to incur an additional $500 million of delayed draw incremental term loans, the proceeds of which will be used to repurchase its 7.50% Senior Subordinated Notes due 2021 in connection with the previously announced tender offer. W. Nicholas Howley, TransDigm Group's Chairman, President and Chief Executive Officer, stated, "Our regularly stated goal is to give our shareholders returns similar to well performing private equity funds while providing the liquidity of a public market. This special dividend is part of our ongoing efforts to actively manage our balance sheet as part of our program to meet that goal. We believe the credit market conditions continue to be favorable and provide us with the opportunity to accelerate returns to shareholders, reduce our overall average interest rate and extend maturities. The combination of current cash on hand, undrawn revolver, additional capacity under our credit agreement, and our typically strong quarterly cash generation should allow us adequate financial flexibility to meet the likely range of currently anticipated operating and acquisition needs."

TDG TransDigm
$277.90

-0.77 (-0.28%)

06/24/16
ADAM
06/24/16
NO CHANGE
Target $300
ADAM
Buy
TransDigm price target raised to $300 from $280 at Canaccord
Canaccord raised its price target on TransDigm to $300 from $280 following the company's investor day, citing the company's operational strategy and value creating drivers, the closing of its DDC acquisition, and the continued bullish outlook on the M&A pipeline. Canaccord reiterated its Buy rating on TransDigm shares.
07/29/16
WOLF
07/29/16
DOWNGRADE
WOLF
Peer Perform
TransDigm downgraded to Peer Perform from Outperform at Wolfe Research
09/22/16
JEFF
09/22/16
INITIATION
Target $340
JEFF
Buy
TransDigm initiated with a Buy at Jefferies
Jefferies analyst Sheila Kahyaoglu started TransDigm with a Buy rating and $340 price target. The analyst expects the company's earnings per share will grow at twice the rate of peers and reach $19 by FY20.
10/06/16
BARD
10/06/16
INITIATION
Target $341
BARD
Outperform
TransDigm initiated with an Outperform at Baird
Baird analyst Peter.Arment initiated TransDigm with an Outperform and a $341 price target.

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