TransDigm Group Incorporated (NYSE:TDG) to Post Q3 2023 Earnings of $5.78 Per Share, Zacks Research Forecasts

TransDigm Group Incorporated (NYSE:TDG – Get Rating) – Investment analysts at Zacks Research dropped their Q3 2023 earnings per share estimates for TransDigm Group in a research report issued to clients and investors on Tuesday, May 23rd. Zacks Research analyst A. Dutta now forecasts that the aerospace company will earn $5.78 per share for the quarter, down from their prior forecast of $5.89. The consensus estimate for TransDigm Group’s current full-year earnings is $21.57 per share. Zacks Research also issued estimates for TransDigm Group’s Q4 2023 earnings at $6.18 EPS, FY2023 earnings at $21.49 EPS, Q1 2024 earnings at $4.39 EPS, Q2 2024 earnings at $5.00 EPS, Q4 2024 earnings at $6.18 EPS, FY2024 earnings at $21.04 EPS, Q1 2025 earnings at $5.39 EPS, Q2 2025 earnings at $5.77 EPS and FY2025 earnings at $24.09 EPS.

Several other research analysts also recently commented on the company. Morgan Stanley raised their price objective on TransDigm Group from $793.00 to $1,000.00 in a report on Monday, May 15th. StockNews.com began coverage on TransDigm Group in a research report on Thursday, May 18th. They set a “buy” rating on the stock. Credit Suisse Group increased their target price on TransDigm Group from $830.00 to $841.00 and gave the company an “outperform” rating in a research report on Wednesday, March 22nd. Royal Bank of Canada increased their target price on TransDigm Group from $800.00 to $900.00 in a research report on Wednesday, May 10th. Finally, Truist Financial increased their target price on TransDigm Group from $840.00 to $870.00 in a research report on Wednesday, May 10th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $834.71.

TransDigm Group Stock Up 0.7 %

TDG opened at $792.49 on Friday. The stock’s fifty day moving average is $759.72 and its two-hundred day moving average is $703.49. The company has a market capitalization of $43.53 billion, a P/E ratio of 47.37, a PEG ratio of 1.44 and a beta of 1.37. TransDigm Group has a 52 week low of $499.63 and a 52 week high of $831.58.

TransDigm Group (NYSE:TDG – Get Rating) last issued its quarterly earnings results on Tuesday, May 9th. The aerospace company reported $5.98 earnings per share for the quarter, topping the consensus estimate of $4.98 by $1.00. TransDigm Group had a negative return on equity of 34.11% and a net margin of 17.57%. The firm had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the prior year, the business posted $3.29 earnings per share. The company’s revenue for the quarter was up 20.0% on a year-over-year basis.

Insider Activity

In related news, Director W Nicholas Howley sold 6,500 shares of the stock in a transaction that occurred on Wednesday, March 15th. The stock was sold at an average price of $701.38, for a total value of $4,558,970.00. Following the completion of the transaction, the director now directly owns 21,548 shares in the company, valued at $15,113,336.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director W Nicholas Howley sold 6,500 shares of the stock in a transaction that occurred on Wednesday, March 15th. The stock was sold at an average price of $701.38, for a total value of $4,558,970.00. Following the completion of the transaction, the director now directly owns 21,548 shares in the company, valued at $15,113,336.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Sarah Wynne sold 180 shares of the stock in a transaction that occurred on Tuesday, March 14th. The stock was sold at an average price of $720.41, for a total value of $129,673.80. Following the completion of the transaction, the chief accounting officer now owns 700 shares of the company’s stock, valued at $504,287. The disclosure for this sale can be found here. Insiders sold 26,074 shares of company stock worth $19,663,423 over the last ninety days. Corporate insiders own 7.18% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC acquired a new position in TransDigm Group during the first quarter worth $27,000. Kayne Anderson Rudnick Investment Management LLC purchased a new position in shares of TransDigm Group during the third quarter worth about $27,000. Cullen Frost Bankers Inc. purchased a new position in shares of TransDigm Group during the first quarter worth about $28,000. Resurgent Financial Advisors LLC purchased a new position in shares of TransDigm Group during the fourth quarter worth about $30,000. Finally, Guardian Wealth Advisors LLC purchased a new position in shares of TransDigm Group during the third quarter worth about $33,000. 96.00% of the stock is currently owned by institutional investors and hedge funds.

TransDigm Group Company Profile

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TransDigm Group, Inc engages in the production of engineered aerospace components, systems and subsystems. It operates through the following segments: Power and Control, Airframe, and Non-Aviation. The Power and Control segment includes operations that primarily develop, produce and market systems and components that provide power to or control power of the aircraft utilizing electronic, fluid, power and mechanical motion control technologies.