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

TransDigm Group (NYSE:TDG) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 31.750-33.090 for the period, compared to the consensus earnings per share 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.

TransDigm Group Price Performance

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

TransDigm Group (NYSE:TDG) last issued its quarterly earnings data on Tuesday, May 7th. The aerospace company reported $7.99 earnings per share for the quarter, topping analysts’ consensus estimates of $7.42 by $0.57. The business had revenue of $1.92 billion for 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%. TransDigm Group’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.39 EPS. As a group, analysts anticipate that TransDigm Group will post 29.08 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. KeyCorp upped their target price on 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. Barclays upped their target price on TransDigm Group from $1,150.00 to $1,250.00 and gave the company an overweight rating in a research report on Monday, February 12th. StockNews.com upgraded TransDigm Group from a hold rating to a buy rating in a research report on Tuesday, April 9th. JPMorgan Chase & Co. upped their target price on TransDigm Group from $1,050.00 to $1,175.00 and gave the company a neutral rating in a research report on Wednesday, March 27th. Finally, Citigroup upped their price target on TransDigm Group from $1,380.00 to $1,395.00 and gave the stock a buy rating in a research note on Thursday, April 4th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $1,240.60.

Insider Activity

In other news, COO Joel Reiss sold 3,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief operating officer now directly owns 3,600 shares of the company’s stock, valued at $4,439,160. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Jorge Valladares sold 2,427 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $1,191.99, for a total value of $2,892,959.73. Following the completion of the transaction, the director now directly owns 11,000 shares of the company’s stock, valued at $13,111,890. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Joel Reiss sold 3,000 shares of the firm’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 completion of the transaction, the chief operating officer now directly owns 3,600 shares of the company’s stock, valued at $4,439,160. The disclosure for this sale can be found here. Insiders sold a total of 59,087 shares of company stock valued at $69,840,358 over the last three months. Corporate 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.