TransDigm Group (NYSE:TDG) Releases Quarterly Earnings Results, Beats Estimates By $0.57 EPS

TransDigm Group (NYSE:TDG) released its quarterly earnings data on Tuesday. The aerospace company reported $7.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.42 by $0.57, Briefing.com reports. The firm had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.88 billion. TransDigm Group had a net margin of 20.80% and a negative return on equity of 59.61%. TransDigm Group’s revenue was up 20.5% compared to the same quarter last year. During the same period last year, the business earned $5.39 earnings per share. TransDigm Group updated its FY24 guidance to $31.75-$33.09 EPS.

TransDigm Group Stock Down 0.1 %

Shares of TDG opened at $1,300.00 on Tuesday. TransDigm Group has a 52-week low of $766.00 and a 52-week high of $1,309.43. The stock has a 50 day moving average price of $1,214.49 and a 200 day moving average price of $1,080.42. The company has a market capitalization of $72.29 billion, a price-to-earnings ratio of 55.19, a price-to-earnings-growth ratio of 2.63 and a beta of 1.40.

Analysts Set New Price Targets

TDG has been the topic of several analyst reports. Stifel Nicolaus lifted their price target on shares of TransDigm Group from $1,100.00 to $1,200.00 and gave the company a “hold” rating in a research report on Wednesday, April 17th. Truist Financial boosted their price target on shares of TransDigm Group from $1,158.00 to $1,267.00 and gave the company a “buy” rating in a research note on Friday, February 9th. KeyCorp lifted their target price on shares of TransDigm Group from $1,220.00 to $1,325.00 and gave the company an “overweight” rating in a report on Monday, April 22nd. The Goldman Sachs Group raised their price target on TransDigm Group from $1,285.00 to $1,518.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Finally, Royal Bank of Canada boosted their price objective on TransDigm Group from $1,150.00 to $1,250.00 and gave the company an “outperform” rating in a report on Friday, February 9th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,170.27.

Insider Transactions at TransDigm Group

In other news, Director Jorge Valladares sold 578 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $1,180.00, for a total value of $682,040.00. Following the completion of the sale, the director now directly owns 11,000 shares of the company’s stock, valued at $12,980,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director W Nicholas Howley sold 2,391 shares of TransDigm Group stock in a transaction on Friday, February 16th. The shares were sold at an average price of $1,160.55, for a total value of $2,774,875.05. Following the transaction, the director now directly owns 21,549 shares in the company, valued at approximately $25,008,691.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jorge Valladares sold 578 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $1,180.00, for a total transaction of $682,040.00. Following the completion of the sale, the director now owns 11,000 shares of the company’s stock, valued at approximately $12,980,000. The disclosure for this sale can be found here. In the last quarter, insiders sold 59,087 shares of company stock worth $69,840,358. 4.96% of the stock is currently owned by insiders.

About TransDigm Group

TransDigm Group Incorporated designs, produces, and supplies aircraft components in the United States and internationally. 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, batteries and chargers, databus and power controls, sensor products, switches and relay panels, hoists, winches and lifting devices, and cargo loading and handling systems.