TransDigm Group (NYSE:TDG) Issues FY 2024 Earnings Guidance

TransDigm Group (NYSE:TDG) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 31.750-33.090 for the period, compared to the consensus EPS estimate of 31.860. The company issued revenue guidance of $7.7 billion-$7.8 billion, compared to the consensus revenue estimate of $7.7 billion.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. UBS Group lifted their target price on TransDigm Group from $1,302.00 to $1,403.00 and gave the company a neutral rating in a report on Wednesday. StockNews.com upgraded TransDigm Group from a hold rating to a buy rating in a research report on Tuesday, April 9th. Stifel Nicolaus boosted their price objective on 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. 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 research report on Friday, February 9th. Finally, Citigroup boosted their target price on TransDigm Group from $1,380.00 to $1,395.00 and gave the company a buy rating in a research note on Thursday, April 4th. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $1,240.60.

TransDigm Group Trading Up 0.6 %

NYSE:TDG traded up $8.36 during trading hours on Wednesday, hitting $1,318.76. 21,438 shares of the stock were exchanged, compared to its average volume of 208,048. TransDigm Group has a 52-week low of $766.00 and a 52-week high of $1,325.36. The firm’s fifty day moving average price is $1,217.21 and its 200 day moving average price is $1,083.86. The company has a market cap of $73.34 billion, a P/E ratio of 56.04, a P/E/G ratio of 2.63 and a beta of 1.40.

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

Insider Activity at TransDigm Group

In other TransDigm Group news, Director W Nicholas Howley sold 2,391 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $1,160.55, for a total transaction of $2,774,875.05. Following the transaction, the director now directly owns 21,549 shares in the company, valued at $25,008,691.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other TransDigm Group news, Director W Nicholas Howley sold 2,391 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $1,160.55, for a total transaction of $2,774,875.05. Following the transaction, the director now directly owns 21,549 shares in the company, valued at $25,008,691.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Joel Reiss sold 3,000 shares of the company’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $1,233.10, for a total value of $3,699,300.00. Following the transaction, the chief operating officer now owns 3,600 shares in the company, valued at $4,439,160. The disclosure for this sale can be found here. Over the last three months, insiders have sold 59,087 shares of company stock worth $69,840,358. Insiders own 4.96% of the company’s stock.

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.