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.

Wall Street Analysts Forecast Growth

Several analysts have commented on TDG shares. Robert W. Baird lifted their price objective on shares of TransDigm Group from $1,290.00 to $1,357.00 and gave the stock an outperform rating in a research report on Wednesday. The Goldman Sachs Group boosted their price target on shares of TransDigm Group from $1,285.00 to $1,518.00 and gave the stock a buy rating in a research note on Tuesday, April 16th. Royal Bank of Canada lifted their target price on shares of TransDigm Group from $1,300.00 to $1,400.00 and gave the stock an outperform rating in a research report on Wednesday. UBS Group boosted their target price on TransDigm Group from $1,302.00 to $1,403.00 and gave the company a neutral rating in a research note on Wednesday. Finally, Stifel Nicolaus lifted their target price on shares of TransDigm Group from $1,100.00 to $1,200.00 and gave the stock a hold rating in a research note on Wednesday, April 17th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, TransDigm Group currently has an average rating of Moderate Buy and a consensus price target of $1,289.94.

TransDigm Group Trading Up 0.7 %

NYSE TDG traded up $9.30 on Thursday, hitting $1,324.30. 74,068 shares of the company traded hands, compared to its average volume of 209,159. The company has a market capitalization of $73.64 billion, a price-to-earnings ratio of 55.81, a P/E/G ratio of 2.63 and a beta of 1.40. The business’s 50 day moving average price is $1,217.21 and its 200-day moving average price is $1,083.86. TransDigm Group has a 52-week low of $768.05 and a 52-week high of $1,330.38.

TransDigm Group (NYSE:TDG) last issued its quarterly earnings data on Tuesday, May 7th. The aerospace company reported $7.99 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.88 billion. During the same period in the previous year, the firm posted $5.39 earnings per share. The firm’s revenue for the quarter was up 20.5% on a year-over-year basis. As a group, sell-side analysts predict that TransDigm Group will post 29.08 earnings per share for the current year.

Insider Activity at TransDigm Group

In other news, COO Joel Reiss sold 3,000 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $1,140.48, for a total value of $3,421,440.00. Following the sale, the chief operating officer now directly owns 3,600 shares in the company, valued at approximately $4,105,728. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, COO Joel Reiss sold 3,000 shares of TransDigm Group stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $1,140.48, for a total value of $3,421,440.00. Following the completion of the sale, the chief operating officer now directly owns 3,600 shares in the company, valued at approximately $4,105,728. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director W Nicholas Howley sold 2,391 shares of TransDigm Group stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $1,160.55, for a total transaction 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 59,087 shares of company stock worth $69,840,358. Company 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.