TransDigm Group (NYSE:TDG) Releases FY24 Earnings Guidance

TransDigm Group (NYSE:TDG - Get Free Report) issued an update on its FY24 earnings guidance on Tuesday morning. 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.

TransDigm Group Trading Up 0.7 %

Shares of TDG stock traded up $8.77 during trading on Tuesday, hitting $1,310.40. The company's stock had a trading volume of 438,237 shares, compared to its average volume of 210,283. The business has a fifty day moving average of $1,217.21 and a 200-day moving average of $1,083.86. The company has a market cap of $72.87 billion, a PE ratio of 55.62, a P/E/G ratio of 2.63 and a beta of 1.40. TransDigm Group has a 52 week low of $766.00 and a 52 week high of $1,315.02.

TransDigm Group (NYSE:TDG - Get Free Report) last issued its quarterly earnings results on Tuesday, May 7th. The aerospace company reported $7.99 earnings per share for the quarter, topping analysts' consensus estimates of $7.42 by $0.57. TransDigm Group had a net margin of 20.80% and a negative return on equity of 59.61%. The company had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the previous year, the firm earned $5.39 EPS. The firm's quarterly revenue was up 20.5% on a year-over-year basis. As a group, research analysts predict that TransDigm Group will post 29.08 EPS for the current year.

Analyst Ratings Changes

TDG has been the subject of a number of recent research reports. Stifel Nicolaus raised their target price on TransDigm Group from $1,100.00 to $1,200.00 and gave the stock a hold rating in a research report on Wednesday, April 17th. Susquehanna upped their price target on shares of TransDigm Group from $875.00 to $1,100.00 and gave the company a neutral rating in a research note on Friday, February 9th. Citigroup lifted their price objective on shares of TransDigm Group from $1,380.00 to $1,395.00 and gave the company a buy rating in a research note on Thursday, April 4th. StockNews.com raised TransDigm Group from a hold rating to a buy rating in a report on Tuesday, April 9th. Finally, Royal Bank of Canada increased their price objective on TransDigm Group from $1,150.00 to $1,250.00 and gave the stock an outperform rating in a report on Friday, February 9th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $1,170.27.

Insiders Place Their Bets

In related news, Director Michael Graff sold 3,460 shares of TransDigm Group stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $1,108.17, for a total value of $3,834,268.20. Following the transaction, the director now owns 4,879 shares in the company, valued at approximately $5,406,761.43. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, COO Joel Reiss sold 3,000 shares of the company's stock in a transaction on Thursday, February 15th. The shares were 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 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 is available at this link. Also, Director Michael Graff sold 3,460 shares of the business's stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $1,108.17, for a total transaction of $3,834,268.20. Following the completion of the transaction, the director now owns 4,879 shares in the company, valued at approximately $5,406,761.43. The disclosure for this sale can be found here. Insiders sold a total of 59,087 shares of company stock valued at $69,840,358 over the last quarter. 4.96% of the stock is owned by corporate 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.