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

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

TransDigm Group Stock Up 0.4 %

NYSE TDG opened at $1,315.00 on Thursday. The business has a 50-day moving average price of $1,217.21 and a 200-day moving average price of $1,083.86. The firm has a market cap of $73.13 billion, a price-to-earnings ratio of 55.81, 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 $1,328.15.

Insider Activity

In related news, CEO Kevin M. Stein sold 10,000 shares of the 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 completion of the transaction, the chief executive officer now directly owns 8,158 shares of the company’s stock, valued at $9,921,433.28. The sale was disclosed in a filing with the SEC, which is available through this link. In other TransDigm Group news, CEO Kevin M. Stein sold 10,000 shares of the 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 completion of the transaction, the chief executive officer now owns 8,158 shares in the company, valued at $9,921,433.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Joel Reiss sold 3,000 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $1,140.48, for a total transaction of $3,421,440.00. Following the completion of the sale, the chief operating officer now owns 3,600 shares in the company, valued at $4,105,728. 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 over the last quarter. Insiders own 4.96% of the company’s stock.

Analyst Upgrades and Downgrades

TDG has been the topic of a number of analyst reports. KeyCorp lifted their price target on TransDigm Group from $1,220.00 to $1,325.00 and gave the stock an “overweight” rating in a research note on Monday, April 22nd. UBS Group upped their price target on shares of TransDigm Group from $1,302.00 to $1,403.00 and gave the company a “neutral” rating in a report on Wednesday. Royal Bank of Canada increased their price target 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. The Goldman Sachs Group increased their price objective on TransDigm Group from $1,285.00 to $1,518.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Finally, TD Cowen raised their price target on TransDigm Group from $1,300.00 to $1,400.00 and gave the stock a “buy” rating in a research note on Wednesday. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, TransDigm Group currently has an average rating of “Moderate Buy” and a consensus target price of $1,289.94.

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.