TransDigm Group (NYSE:TDG) Updates FY24 Earnings Guidance

TransDigm Group (NYSE:TDG) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $31.75-$33.09 for the period, compared to the consensus earnings per share 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

Several analysts recently commented on the stock. TD Cowen raised their price target on shares of TransDigm Group from $1,300.00 to $1,400.00 and gave the stock a buy rating in a report on Wednesday. KeyCorp raised 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 report on Monday, April 22nd. Royal Bank of Canada raised their price objective on shares of TransDigm Group from $1,300.00 to $1,400.00 and gave the company an outperform rating in a research report on Wednesday. Truist Financial raised their price objective on shares of TransDigm Group from $1,267.00 to $1,425.00 and gave the company a buy rating in a research report on Wednesday. Finally, Robert W. Baird raised their price objective 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. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, TransDigm Group currently has an average rating of Moderate Buy and a consensus target price of $1,289.94.

TransDigm Group Stock Performance

TDG traded up $9.30 during midday trading on Thursday, hitting $1,324.30. The company had a trading volume of 74,068 shares, compared to its average volume of 209,159. The company has a market capitalization of $73.64 billion, a PE ratio of 55.81, a P/E/G ratio of 2.63 and a beta of 1.40. TransDigm Group has a twelve month low of $768.05 and a twelve month high of $1,330.38. The firm’s 50-day simple moving average is $1,217.21 and its 200-day simple moving average is $1,083.86.

TransDigm Group (NYSE:TDG) last issued its earnings results on Tuesday, May 7th. The aerospace company reported $7.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.42 by $0.57. The company had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.88 billion. TransDigm Group had a net margin of 20.80% and a negative return on equity of 59.61%. The company’s revenue for the quarter was up 20.5% on a year-over-year basis. During the same quarter last year, the firm earned $5.39 EPS. As a group, sell-side analysts anticipate that TransDigm Group will post 29.08 EPS for the current fiscal year.

Insider Activity

In related news, CEO Kevin M. Stein sold 10,000 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now directly owns 8,158 shares in the company, valued at $9,921,433.28. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, 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 sale, the director now owns 21,549 shares of the company’s stock, valued at $25,008,691.95. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Kevin M. Stein sold 10,000 shares of the business’s stock in a transaction dated 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 directly owns 8,158 shares of the company’s stock, valued at approximately $9,921,433.28. The disclosure for this sale can be found here. Insiders have sold 59,087 shares of company stock worth $69,840,358 over the last ninety days. 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.