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

TransDigm Group (NYSE:TDG) issued an update on its FY 2024 earnings guidance on Tuesday morning. 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 Stock Performance

Shares of TDG traded up $16.24 during trading hours on Friday, hitting $1,247.36. The stock had a trading volume of 172,042 shares, compared to its average volume of 226,832. The firm has a 50-day moving average price of $1,281.41 and a 200 day moving average price of $1,234.04. TransDigm Group has a fifty-two week low of $802.46 and a fifty-two week high of $1,369.57. The firm has a market capitalization of $69.80 billion, a price-to-earnings ratio of 48.90, a PEG ratio of 2.07 and a beta of 1.38.

TransDigm Group (NYSE:TDG) last issued its quarterly earnings results on Tuesday, August 6th. The aerospace company reported $9.00 EPS for the quarter, topping the consensus estimate of $7.77 by $1.23. The company 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%. The firm’s revenue was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.55 EPS. As a group, analysts predict that TransDigm Group will post 30.21 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on TDG shares. Barclays upped their target price on shares of TransDigm Group from $1,250.00 to $1,500.00 and gave the stock an overweight rating in a report on Monday, May 13th. TD Cowen upped their target price 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, May 8th. Truist Financial upped their target price on shares of TransDigm Group from $1,425.00 to $1,483.00 and gave the stock a buy rating in a report on Wednesday, July 17th. Northcoast Research started coverage on shares of TransDigm Group in a report on Thursday, August 1st. They set a neutral rating for the company. Finally, Robert W. Baird upped their target price on shares of TransDigm Group from $1,290.00 to $1,357.00 and gave the stock an outperform rating in a report on Wednesday, May 8th. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, TransDigm Group currently has an average rating of Moderate Buy and an average target price of $1,417.19.

Insider Buying and Selling at TransDigm Group

In other TransDigm Group 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 value of $1,238,889.50. Following the transaction, the insider now owns 50 shares of the company’s stock, valued at $66,967. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Jessica L. Warren sold 925 shares of the 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 sale, the insider now owns 50 shares of the company’s stock, valued at $66,967. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert J. Small sold 30,000 shares of the stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $1,323.86, for a total transaction of $39,715,800.00. Following the sale, the director now directly owns 112,381 shares in the company, valued at approximately $148,776,710.66. The disclosure for this sale can be found here. Insiders have sold 105,708 shares of company stock valued at $137,640,845 over the last 90 days. 4.96% of the stock is owned by insiders.

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.