TransDigm Group Incorporated (NYSE:TDG) Forecasted to Earn FY2024 Earnings of $29.57 Per Share

TransDigm Group Incorporated (NYSE:TDG) – Research analysts at Zacks Research increased their FY2024 earnings per share (EPS) estimates for TransDigm Group in a note issued to investors on Thursday, June 27th. Zacks Research analyst R. Department now anticipates that the aerospace company will post earnings of $29.57 per share for the year, up from their previous forecast of $29.54. The consensus estimate for TransDigm Group’s current full-year earnings is $30.04 per share. Zacks Research also issued estimates for TransDigm Group’s Q4 2024 earnings at $8.66 EPS.

TransDigm Group (NYSE:TDG) last posted its quarterly earnings results 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 63.35% and a net margin of 21.22%. The firm had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.88 billion. During the same quarter in the previous year, the business earned $5.39 earnings per share. The company’s revenue was up 20.5% on a year-over-year basis.

Other analysts have also issued research reports about the company. StockNews.com raised TransDigm Group from a “hold” rating to a “buy” rating in a report on Saturday, May 18th. Wells Fargo & Company lifted their price objective on TransDigm Group from $1,260.00 to $1,390.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 8th. KeyCorp lifted their price objective on TransDigm Group from $1,325.00 to $1,440.00 and gave the stock an “overweight” rating in a report on Tuesday, May 28th. Truist Financial lifted their price objective on TransDigm Group from $1,267.00 to $1,425.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Finally, JPMorgan Chase & Co. lifted their price objective on TransDigm Group from $1,050.00 to $1,175.00 and gave the stock a “neutral” rating in a report on Wednesday, March 27th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,414.06.

TransDigm Group Price Performance

TDG stock opened at $1,252.72 on Monday. TransDigm Group has a 1-year low of $802.46 and a 1-year high of $1,369.57. The business has a fifty day moving average price of $1,303.77 and a 200-day moving average price of $1,186.89. The stock has a market capitalization of $70.10 billion, a P/E ratio of 49.69, a P/E/G ratio of 2.16 and a beta of 1.38.

Institutional Investors Weigh In On TransDigm Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. O Shaughnessy Asset Management LLC grew its stake in shares of TransDigm Group by 11.6% during the third quarter. O Shaughnessy Asset Management LLC now owns 1,819 shares of the aerospace company’s stock valued at $1,534,000 after buying an additional 189 shares during the last quarter. Bank of Nova Scotia grew its stake in shares of TransDigm Group by 19.4% during the third quarter. Bank of Nova Scotia now owns 5,110 shares of the aerospace company’s stock valued at $4,308,000 after buying an additional 830 shares during the last quarter. Glenmede Trust Co. NA grew its stake in shares of TransDigm Group by 14.4% during the third quarter. Glenmede Trust Co. NA now owns 2,626 shares of the aerospace company’s stock valued at $2,214,000 after buying an additional 330 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its stake in TransDigm Group by 48.3% in the third quarter. Adage Capital Partners GP L.L.C. now owns 51,894 shares of the aerospace company’s stock worth $43,753,000 after purchasing an additional 16,900 shares in the last quarter. Finally, Element Capital Management LLC bought a new position in TransDigm Group in the third quarter worth approximately $4,551,000. 95.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Kevin M. Stein sold 10,000 shares of the business’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $1,308.52, for a total value of $13,085,200.00. Following the sale, the chief executive officer now directly owns 8,158 shares in the company, valued at $10,674,906.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other TransDigm Group news, Director Robert J. Small sold 21,210 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $1,315.87, for a total transaction of $27,909,602.70. Following the sale, the director now directly owns 100,962 shares in the company, valued at $132,852,866.94. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Kevin M. Stein sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $1,308.52, for a total value of $13,085,200.00. Following the sale, the chief executive officer now owns 8,158 shares in the company, valued at $10,674,906.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 100,833 shares of company stock worth $131,249,183. Corporate insiders own 4.96% of the company’s stock.

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.