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

TransDigm Group (NYSE:TDG - Get Free Report) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 31.750-33.090 for the period, compared to the consensus earnings per share estimate of 31.860. The company issued revenue guidance of $7.7 billion-$7.8 billion, compared to the consensus revenue estimate of $7.7 billion.

Wall Street Analyst Weigh In

TDG has been the topic of several analyst reports. Truist Financial increased their price target on shares of TransDigm Group from $1,267.00 to $1,425.00 and gave the stock a buy rating in a research report on Wednesday. KeyCorp boosted their price target on TransDigm Group from $1,220.00 to $1,325.00 and gave the stock an overweight rating in a report on Monday, April 22nd. Citigroup lifted their target price on TransDigm Group from $1,380.00 to $1,395.00 and gave the company a buy rating in a research report on Thursday, April 4th. StockNews.com raised shares of 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 shares of TransDigm Group from $1,300.00 to $1,400.00 and gave the company an outperform rating in a research note on Wednesday. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $1,289.94.

TransDigm Group Price Performance

Shares of TDG traded up $4.60 during trading hours on Wednesday, hitting $1,315.00. 248,163 shares of the stock were exchanged, compared to its average volume of 210,719. The firm has a market capitalization of $73.13 billion, a P/E ratio of 55.81, a price-to-earnings-growth ratio of 2.63 and a beta of 1.40. TransDigm Group has a fifty-two week low of $766.00 and a fifty-two week high of $1,328.15. The business has a 50-day moving average of $1,217.21 and a 200-day moving average of $1,083.86.

TransDigm Group (NYSE:TDG - Get Free Report) last posted 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 firm had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same period last year, the company posted $5.39 EPS. The business's quarterly revenue was up 20.5% on a year-over-year basis. As a group, analysts forecast that TransDigm Group will post 29.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, COO Joel Reiss sold 3,000 shares of the business's stock in a transaction on Monday, April 15th. The shares were sold at an average price of $1,233.10, for a total transaction of $3,699,300.00. Following the transaction, the chief operating officer now owns 3,600 shares in the company, valued at approximately $4,439,160. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director W Nicholas Howley sold 2,391 shares of the business's 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 in the company, valued at $25,008,691.95. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Joel Reiss sold 3,000 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $1,233.10, for a total value of $3,699,300.00. Following the completion of the transaction, the chief operating officer now owns 3,600 shares in the company, valued at $4,439,160. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,087 shares of company stock worth $69,840,358. 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.