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 Trading Down 1.0 %

NYSE:TDG traded down $13.19 on Tuesday, reaching $1,288.44. The stock had a trading volume of 258,938 shares, compared to its average volume of 208,141. The company has a 50-day moving average of $1,214.49 and a 200 day moving average of $1,080.42. The stock has a market cap of $71.65 billion, a P/E ratio of 55.19, a price-to-earnings-growth ratio of 2.63 and a beta of 1.40. TransDigm Group has a 12-month low of $766.00 and a 12-month high of $1,309.43.

TransDigm Group (NYSE:TDG) last issued its quarterly earnings results on Tuesday, May 7th. The aerospace company reported $7.99 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $1.88 billion. During the same quarter in the prior year, the business posted $5.39 earnings per share. TransDigm Group’s revenue for the quarter was up 20.5% on a year-over-year basis. On average, equities analysts predict that TransDigm Group will post 29.08 EPS for the current year.

Analyst Ratings Changes

TDG has been the topic of a number of research analyst reports. Stifel Nicolaus increased their price objective on shares of TransDigm Group from $1,100.00 to $1,200.00 and gave the company a hold rating in a research note on Wednesday, April 17th. Susquehanna lifted their price target on TransDigm Group from $875.00 to $1,100.00 and gave the stock a neutral rating in a research note on Friday, February 9th. JPMorgan Chase & Co. upped their price objective on TransDigm Group from $1,050.00 to $1,175.00 and gave the company a neutral rating in a research note on Wednesday, March 27th. KeyCorp increased their target price on TransDigm Group from $1,220.00 to $1,325.00 and gave the stock an overweight rating in a report on Monday, April 22nd. Finally, Royal Bank of Canada boosted their price target 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 analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $1,170.27.

Insider Activity

In related news, Director W Nicholas Howley sold 2,391 shares of the company’s stock in a transaction dated 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 completion of the sale, the director now owns 21,549 shares of the company’s stock, valued at $25,008,691.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Kevin M. Stein sold 10,000 shares of the business’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 value of $12,161,600.00. Following the sale, the chief executive officer now directly owns 8,158 shares in the company, valued at approximately $9,921,433.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director W Nicholas Howley sold 2,391 shares of the company’s 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 completion of the transaction, the director now directly owns 21,549 shares in the company, valued at approximately $25,008,691.95. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 59,087 shares of company stock valued at $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.