TransDigm Group (NYSE:TDG) Reaches New 12-Month High Following Better-Than-Expected Earnings

TransDigm Group Incorporated (NYSE:TDG)’s stock price reached a new 52-week high on Wednesday following a stronger than expected earnings report. The stock traded as high as $1,325.36 and last traded at $1,314.00, with a volume of 41776 shares traded. The stock had previously closed at $1,310.40.

The aerospace company reported $7.99 earnings per share for the quarter, beating 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 analyst estimates of $1.88 billion. During the same period last year, the firm earned $5.39 earnings per share. The firm’s revenue was up 20.5% on a year-over-year basis.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Truist Financial boosted their price objective on TransDigm Group from $1,267.00 to $1,425.00 and gave the stock a “buy” rating in a research report on Wednesday. Barclays increased their price target on shares of TransDigm Group from $1,150.00 to $1,250.00 and gave the company an “overweight” rating in a research report on Monday, February 12th. KeyCorp lifted their price objective on shares of TransDigm Group from $1,220.00 to $1,325.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. The Goldman Sachs Group boosted their target price on shares of TransDigm Group from $1,285.00 to $1,518.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Finally, Susquehanna raised their price target on shares of TransDigm Group from $1,100.00 to $1,200.00 and gave the stock a “neutral” rating in a research note on Wednesday. Six 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, TransDigm Group presently has an average rating of “Moderate Buy” and an average target price of $1,240.60.

Insider Transactions at TransDigm Group

In other TransDigm Group news, COO Joel Reiss sold 3,000 shares of the firm’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $1,140.48, for a total value of $3,421,440.00. Following the completion of the transaction, the chief operating officer now directly owns 3,600 shares of the company’s stock, valued at approximately $4,105,728. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, COO Joel Reiss sold 3,000 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $1,140.48, for a total transaction of $3,421,440.00. Following the completion of the transaction, the chief operating officer now owns 3,600 shares of the company’s stock, valued at $4,105,728. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director W Nicholas Howley sold 2,391 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were 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 directly owns 21,549 shares in the company, valued at $25,008,691.95. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 59,087 shares of company stock valued at $69,840,358. 4.96% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On TransDigm Group

A number of large investors have recently added to or reduced their stakes in the company. Compagnie Lombard Odier SCmA purchased a new stake in shares of TransDigm Group in the 4th quarter valued at $25,000. ORG Partners LLC bought a new position in shares of TransDigm Group during the first quarter valued at about $30,000. Oakworth Capital Inc. purchased a new position in shares of TransDigm Group in the fourth quarter worth about $26,000. Central Pacific Bank Trust Division bought a new stake in shares of TransDigm Group in the 1st quarter valued at about $39,000. Finally, Oliver Lagore Vanvalin Investment Group boosted its holdings in TransDigm Group by 48.0% during the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 37 shares of the aerospace company’s stock valued at $38,000 after acquiring an additional 12 shares during the period. Hedge funds and other institutional investors own 95.78% of the company’s stock.

TransDigm Group Stock Performance

The firm has a 50-day moving average of $1,217.21 and a 200-day moving average of $1,083.86. The firm has a market capitalization of $73.45 billion, a P/E ratio of 56.04, a price-to-earnings-growth ratio of 2.63 and a beta of 1.40.

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.