TransDigm Group (NYSE:TDG) Releases Quarterly Earnings Results, Beats Expectations By $1.23 EPS

TransDigm Group (NYSE:TDG) released its earnings results on Tuesday. The aerospace company reported $9.00 earnings per share for the quarter, beating analysts’ consensus estimates of $7.77 by $1.23, Briefing.com reports. TransDigm Group had a negative return on equity of 66.65% and a net margin of 21.83%. The firm had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same period in the prior year, the company posted $6.55 EPS. The company’s revenue was up 17.3% compared to the same quarter last year. TransDigm Group updated its FY24 guidance to $32.62-33.42 EPS and its FY 2024 guidance to 32.620-33.420 EPS.

TransDigm Group Price Performance

TransDigm Group stock traded up $11.44 during mid-day trading on Friday, reaching $1,242.56. 68,123 shares of the company traded hands, compared to its average volume of 226,153. The firm’s 50 day moving average price is $1,281.41 and its 200 day moving average price is $1,234.04. TransDigm Group has a 52-week low of $802.46 and a 52-week high of $1,369.57. The firm has a market capitalization of $69.53 billion, a price-to-earnings ratio of 48.90, a P/E/G ratio of 2.07 and a beta of 1.38.

Analyst Ratings Changes

Several brokerages have recently commented on TDG. Northcoast Research assumed coverage on shares of TransDigm Group in a research report on Thursday, August 1st. They issued a “neutral” rating for the company. KeyCorp increased their price target on TransDigm Group from $1,325.00 to $1,440.00 and gave the company an “overweight” rating in a research note on Tuesday, May 28th. TD Cowen boosted their price objective on TransDigm Group from $1,300.00 to $1,400.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Barclays boosted their price target on shares of 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. Finally, The Goldman Sachs Group boosted their target price on shares of TransDigm Group from $1,285.00 to $1,518.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,417.19.

Insider Activity

In related news, CEO Kevin M. Stein sold 10,000 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $1,292.89, for a total value of $12,928,900.00. Following the completion of the transaction, the chief executive officer now directly owns 8,158 shares of the company’s stock, valued at $10,547,396.62. The transaction was disclosed in a legal 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 company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $1,292.89, for a total value of $12,928,900.00. Following the sale, the chief executive officer now owns 8,158 shares in the company, valued at $10,547,396.62. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robert J. Small sold 30,000 shares of the stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $1,323.86, for a total value of $39,715,800.00. Following the completion of the transaction, 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. In the last 90 days, insiders have sold 105,708 shares of company stock valued at $137,640,845. Corporate insiders own 4.96% of the company’s stock.

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.