TransDigm Group (NYSE:TDG) Issues FY24 Earnings Guidance

TransDigm Group (NYSE:TDG) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $31.75-$33.09 for the period, compared to the consensus EPS estimate of $31.73. The company issued revenue guidance of $7.680-$7.800 billion, compared to the consensus revenue estimate of $7.72 billion.

TransDigm Group Stock Up 0.4 %

Shares of NYSE:TDG traded up $5.56 during midday trading on Wednesday, hitting $1,315.96. The stock had a trading volume of 152,110 shares, compared to its average volume of 209,523. The company has a market capitalization of $73.18 billion, a P/E ratio of 56.08, a price-to-earnings-growth ratio of 2.63 and a beta of 1.40. The company’s 50-day moving average price is $1,217.21 and its 200-day moving average price is $1,083.86. TransDigm Group has a fifty-two week low of $766.00 and a fifty-two week high of $1,328.15.

TransDigm Group (NYSE:TDG) last released its earnings results on Tuesday, May 7th. The aerospace company reported $7.99 earnings per share for the quarter, topping the consensus estimate of $7.42 by $0.57. TransDigm Group had a negative return on equity of 59.61% and a net margin of 20.80%. The firm had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.88 billion. During the same period in the prior year, the company earned $5.39 earnings per share. The company’s quarterly revenue was up 20.5% on a year-over-year basis. Research analysts expect that TransDigm Group will post 29.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have commented on TDG. UBS Group boosted their target price on TransDigm Group from $1,302.00 to $1,403.00 and gave the stock a neutral rating in a research note on Wednesday. StockNews.com upgraded shares of TransDigm Group from a hold rating to a buy rating in a research report on Tuesday, April 9th. Citigroup raised their target price on shares of TransDigm Group from $1,380.00 to $1,395.00 and gave the company a buy rating in a research report on Thursday, April 4th. Truist Financial upped their price target on shares of TransDigm Group from $1,267.00 to $1,425.00 and gave the stock a buy rating in a report on Wednesday. Finally, KeyCorp raised their price objective on TransDigm Group from $1,220.00 to $1,325.00 and gave the company an overweight rating in a report on Monday, April 22nd. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $1,289.94.

Insider Activity at TransDigm Group

In other TransDigm Group news, COO Joel Reiss sold 3,000 shares of the stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $1,233.10, for a total transaction of $3,699,300.00. Following the completion of the sale, the chief operating officer now directly owns 3,600 shares in the company, valued at approximately $4,439,160. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Michael Graff sold 3,460 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $1,108.17, for a total transaction of $3,834,268.20. Following the transaction, the director now owns 4,879 shares in the company, valued at approximately $5,406,761.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Joel Reiss sold 3,000 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $1,233.10, for a total transaction of $3,699,300.00. Following the transaction, the chief operating officer now directly owns 3,600 shares in the company, valued at $4,439,160. The disclosure for this sale can be found here. Insiders have sold a total of 59,087 shares of company stock worth $69,840,358 over the last quarter. Company insiders own 4.96% of the company’s stock.

TransDigm Group Company Profile

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.