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

TransDigm Group (NYSE:TDG) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 32.620-33.420 for the period, compared to the consensus estimate of 33.190. The company issued revenue guidance of $7.9 billion-$7.9 billion, compared to the consensus revenue estimate of $7.9 billion. TransDigm Group also updated its FY24 guidance to $32.62-33.42 EPS.

TransDigm Group Price Performance

Shares of TransDigm Group stock traded up $16.24 during trading on Friday, reaching $1,247.36. 172,042 shares of the stock traded hands, compared to its average volume of 226,832. TransDigm Group has a 52-week low of $802.46 and a 52-week high of $1,369.57. The business has a fifty day simple moving average of $1,281.41 and a two-hundred day simple moving average of $1,234.04. The company has a market capitalization of $69.80 billion, a price-to-earnings ratio of 49.48, a P/E/G ratio of 2.07 and a beta of 1.38.

TransDigm Group (NYSE:TDG) last released its quarterly earnings data on Tuesday, August 6th. The aerospace company reported $9.00 EPS for the quarter, beating the consensus estimate of $7.77 by $1.23. The business had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.01 billion. TransDigm Group had a net margin of 21.83% and a negative return on equity of 66.65%. TransDigm Group’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same quarter last year, the business earned $6.55 earnings per share. On average, research analysts predict that TransDigm Group will post 30.21 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently weighed in on TDG. Morgan Stanley upped their price target on shares of TransDigm Group from $1,550.00 to $1,575.00 and gave the stock an overweight rating in a research report on Wednesday. Susquehanna raised their price objective on shares of TransDigm Group from $1,200.00 to $1,250.00 and gave the stock a neutral rating in a research note on Wednesday. Barclays lifted their price target on TransDigm Group from $1,250.00 to $1,500.00 and gave the company an overweight rating in a research note on Monday, May 13th. Truist Financial lifted their target price on shares of TransDigm Group from $1,425.00 to $1,483.00 and gave the company a buy rating in a research report on Wednesday, July 17th. Finally, Northcoast Research initiated coverage on shares of TransDigm Group in a research note on Thursday, August 1st. They set a neutral rating on the stock. Eight equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $1,417.19.

Insider Buying and Selling at TransDigm Group

In other news, insider Jessica L. Warren sold 925 shares of the company’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $1,339.34, for a total transaction of $1,238,889.50. Following the completion of the sale, the insider now owns 50 shares in the company, valued at approximately $66,967. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Jessica L. Warren sold 925 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $1,339.34, for a total transaction of $1,238,889.50. Following the completion of the transaction, the insider now owns 50 shares of the company’s stock, valued at $66,967. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kevin M. Stein sold 10,000 shares of the stock in a transaction on Monday, May 13th. The shares were sold at an average price of $1,292.89, for a total transaction of $12,928,900.00. Following the completion of the transaction, the chief executive officer now owns 8,158 shares of the company’s stock, valued at approximately $10,547,396.62. The disclosure for this sale can be found here. In the last quarter, insiders have sold 105,708 shares of company stock worth $137,640,845. 4.96% of the stock is currently owned by company insiders.

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.