Here’s Why TransDigm Group Incorporated (TDG) Outperformed in Q2

Investment management company Vulcan Value Partners recently released its second-quarter 2023 investor letter. A copy of the same can be downloaded here. The firm has five strategies, and all gained positive absolute returns in the second quarter. The fund’s Large Cap Composite returned 10.0% net of fees and expenses, the Small Cap Composite returned 4.4% net, the Focus Composite returned 11.1% net, the Focus Plus composite returned 10.6%, and the All-Cap Composite returned 6.0% net. You can check the top 5 holdings of the fund to know its best picks in 2023.

Vulcan Value Partners highlighted stocks like TransDigm Group Incorporated (NYSE:TDG) in the second quarter 2023 investor letter. Headquartered in Cleveland, Ohio, TransDigm Group Incorporated (NYSE:TDG) is an aircraft components manufacturer. On August 22, 2023, TransDigm Group Incorporated (NYSE:TDG) stock closed at $855.24 per share. One-month return of TransDigm Group Incorporated (NYSE:TDG) was -4.12%, and its shares gained 33.00% of their value over the last 52 weeks. TransDigm Group Incorporated (NYSE:TDG) has a market capitalization of $47.195 billion.

Vulcan Value Partners made the following comment about TransDigm Group Incorporated (NYSE:TDG) in its second quarter 2023 investor letter:

“There were four material contributors to performance: Amazon.com, Inc., TransDigm Group Incorporated (NYSE:TDG), CoStar Group, Inc., and Microsoft Corp. TransDigm reported increased revenue, generated strong free cash flow, and increased its guidance for the year. Though air travel has grown from its pandemic lows, it has not yet returned to pre-Covid levels. Even so, the company’s operating income are above pre-Covid levels. Bookings are strong, and TransDigm continues to reinvest in its business on both an organic basis and through thoughtful and opportunistic M&A.”

TransDigm Group Incorporated (NYSE:TDG) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 67 hedge fund portfolios held TransDigm Group Incorporated (NYSE:TDG) at the end of second quarter which was 67 in the previous quarter.

We discussed TransDigm Group Incorporated (NYSE:TDG) in another article and shared the list of best stocks to buy that are on the rise. In addition, please check out our hedge fund investor letters Q2 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.