TransDigm Group (NYSE:TDG) Releases 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.

Analyst Ratings Changes

TDG has been the topic of a number of recent research reports. JPMorgan Chase & Co. boosted their price objective on TransDigm Group from $1,050.00 to $1,175.00 and gave the stock a neutral rating in a research note on Wednesday, March 27th. Robert W. Baird boosted their price target on shares of TransDigm Group from $1,290.00 to $1,357.00 and gave the company an outperform rating in a research report on Wednesday. UBS Group raised their price objective on shares of TransDigm Group from $1,302.00 to $1,403.00 and gave the stock a neutral rating in a research report on Wednesday. Citigroup boosted 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 report on Thursday, April 4th. Finally, KeyCorp lifted their price target on shares of TransDigm Group from $1,220.00 to $1,325.00 and gave the company an overweight rating in a research report on Monday, April 22nd. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $1,289.94.

TransDigm Group Stock Performance

Shares of TDG stock traded up $5.56 on Wednesday, hitting $1,315.96. The stock had a trading volume of 152,110 shares, compared to its average volume of 209,523. TransDigm Group has a 52-week low of $766.00 and a 52-week high of $1,328.15. The firm has a market capitalization of $73.18 billion, a price-to-earnings ratio of 56.08, a P/E/G ratio of 2.63 and a beta of 1.40. The stock’s 50 day moving average is $1,217.21 and its 200-day moving average is $1,083.86.

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

Insider Transactions at TransDigm Group

In related news, COO Joel Reiss sold 3,000 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $1,140.48, for a total transaction of $3,421,440.00. Following the completion of the transaction, the chief operating officer now directly owns 3,600 shares in the company, valued at approximately $4,105,728. The sale was disclosed in a document filed with the SEC, which is available through this link. In other TransDigm Group news, COO Joel Reiss sold 3,000 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $1,140.48, for a total transaction of $3,421,440.00. Following the completion of the transaction, the chief operating officer now directly owns 3,600 shares of the company’s stock, valued at approximately $4,105,728. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kevin M. Stein sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $1,216.16, for a total transaction of $12,161,600.00. Following the completion of the sale, the chief executive officer now owns 8,158 shares in the company, valued at approximately $9,921,433.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 59,087 shares of company stock worth $69,840,358. 4.96% of the stock is currently owned by company 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.