TransDigm Group (NYSE:TDG) Posts Earnings Results, Beats Estimates By $0.57 EPS

TransDigm Group (NYSE:TDG) issued its quarterly earnings data on Tuesday. The aerospace company reported $7.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.42 by $0.57, Briefing.com reports. 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%. TransDigm Group’s revenue was up 20.5% compared to the same quarter last year. During the same period last year, the company posted $5.39 earnings per share. TransDigm Group updated its FY24 guidance to $31.75-$33.09 EPS.

TransDigm Group Price Performance

Shares of TDG stock traded down $5.84 during trading hours on Friday, reaching $1,313.02. The stock had a trading volume of 56,038 shares, compared to its average volume of 209,163. TransDigm Group has a twelve month low of $768.05 and a twelve month high of $1,330.82. The firm has a 50-day simple moving average of $1,222.89 and a 200-day simple moving average of $1,087.09. The firm has a market capitalization of $73.02 billion, a PE ratio of 55.98, a price-to-earnings-growth ratio of 2.63 and a beta of 1.40.

Insider Buying and Selling

In related news, CEO Kevin M. Stein sold 10,000 shares of the stock in a transaction dated 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 owns 8,158 shares of the company’s stock, valued at approximately $9,921,433.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director W Nicholas Howley sold 9,381 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $1,165.00, for a total transaction of $10,928,865.00. Following the completion of the sale, the director now directly owns 21,548 shares in the company, valued at $25,103,420. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Kevin M. Stein sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $1,216.16, for a total transaction of $12,161,600.00. Following the sale, the chief executive officer now owns 8,158 shares of the company’s stock, valued at $9,921,433.28. The disclosure for this sale can be found here. In the last quarter, insiders have bought 11 shares of company stock valued at $5,950 and have sold 59,088 shares valued at $69,841,110. Corporate insiders own 4.96% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Barclays lifted their price objective on shares of TransDigm Group from $1,150.00 to $1,250.00 and gave the stock an “overweight” rating in a research note on Monday, February 12th. KeyCorp lifted their price objective on shares of TransDigm Group from $1,220.00 to $1,325.00 and gave the company an “overweight” rating in a report on Monday, April 22nd. Susquehanna boosted their target price on shares of TransDigm Group from $1,100.00 to $1,200.00 and gave the stock a “neutral” rating in a research note on Wednesday. StockNews.com raised shares of TransDigm Group from a “hold” rating to a “buy” rating in a research note on Tuesday, April 9th. Finally, Royal Bank of Canada upped 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 note on Wednesday. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, TransDigm Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,311.81.

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.