TransDigm Group (NYSE:TDG) Releases Earnings Results, Beats Expectations By $0.57 EPS

TransDigm Group (NYSE:TDG) announced its quarterly earnings results on Tuesday. The aerospace company reported $7.99 earnings per share for the quarter, beating analysts’ consensus estimates of $7.42 by $0.57, Briefing.com reports. The business had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.88 billion. TransDigm Group had a net margin of 20.80% and a negative return on equity of 59.61%. TransDigm Group’s revenue for the quarter was up 20.5% on a year-over-year basis. During the same period last year, the company posted $5.39 EPS. TransDigm Group updated its FY24 guidance to $31.75-$33.09 EPS.

TransDigm Group Stock Up 0.5 %

Shares of TransDigm Group stock opened at $1,300.35 on Tuesday. The stock has a market capitalization of $72.31 billion, a price-to-earnings ratio of 55.19, a price-to-earnings-growth ratio of 2.63 and a beta of 1.40. TransDigm Group has a twelve month low of $766.00 and a twelve month high of $1,309.43. The company has a 50-day simple moving average of $1,214.49 and a two-hundred day simple moving average of $1,080.42.

Insiders Place Their Bets

In other news, Director Michael Graff sold 3,460 shares of TransDigm Group stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $1,108.17, for a total value of $3,834,268.20. Following the completion of the sale, the director now directly owns 4,879 shares in the company, valued at $5,406,761.43. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Michael Graff sold 3,460 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $1,108.17, for a total transaction of $3,834,268.20. Following the sale, the director now directly owns 4,879 shares of the company’s stock, valued at approximately $5,406,761.43. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director W Nicholas Howley sold 2,391 shares of the business’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 transaction, the director now directly owns 21,549 shares of the company’s stock, valued at approximately $25,008,691.95. 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 in the last quarter. Corporate insiders own 4.96% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. KeyCorp lifted their price target on shares of TransDigm Group from $1,220.00 to $1,325.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. Royal Bank of Canada increased their price target on TransDigm Group from $1,150.00 to $1,250.00 and gave the stock an “outperform” rating in a report on Friday, February 9th. Barclays raised their price target on TransDigm Group from $1,150.00 to $1,250.00 and gave the stock an “overweight” rating in a research report on Monday, February 12th. JPMorgan Chase & Co. upped their price target on TransDigm Group from $1,050.00 to $1,175.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 27th. Finally, Citigroup upped their target price on TransDigm Group from $1,380.00 to $1,395.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. Six investment 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 stock has an average rating of “Moderate Buy” and a consensus target price of $1,170.27.

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.