TransDigm Group Inc. (TDG) Releases Quarterly Earnings Results, Beats Estimates By $0.09 EPS
TransDigm Group Inc. (NYSE:TDG) released its quarterly earnings results on Monday. The company reported $3.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.20 by $0.09. TransDigm Group had a negative return on equity of 62.15% and a net margin of 17.25%. The company earned $875.20 million during the quarter, compared to analysts’ expectations of $884.26 million. During the same quarter in the prior year, the business posted $2.83 earnings per share. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. TransDigm Group updated its FY17 guidance to $11.84-12.12 EPS.
Shares of TransDigm Group (NYSE:TDG) opened at 252.94 on Tuesday. TransDigm Group has a 52 week low of $180.76 and a 52 week high of $294.38. The company has a 50-day moving average price of $275.88 and a 200 day moving average price of $270.22. The stock has a market capitalization of $13.47 billion, a P/E ratio of 26.75 and a beta of 0.61.
The firm also recently disclosed a special dividend, which was paid on Tuesday, November 1st. Investors of record on Monday, October 24th were paid a $24.00 dividend. The ex-dividend date of this dividend was Thursday, October 20th.
In other news, insider Roger Jones sold 7,500 shares of TransDigm Group stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $285.92, for a total value of $2,144,400.00. Following the completion of the sale, the insider now directly owns 11,500 shares of the company’s stock, valued at approximately $3,288,080. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Robert S. Henderson sold 10,000 shares of TransDigm Group stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $271.09, for a total value of $2,710,900.00. Following the completion of the sale, the vice president now directly owns 20,000 shares of the company’s stock, valued at $5,421,800. The disclosure for this sale can be found here. Corporate insiders own 9.30% of the company’s stock.
Several large investors have recently added to or reduced their stakes in TDG. State Street Corp boosted its stake in TransDigm Group by 99.8% in the second quarter. State Street Corp now owns 2,040,202 shares of the company’s stock valued at $537,981,000 after buying an additional 1,019,026 shares during the period. Vanguard Group Inc. boosted its stake in TransDigm Group by 23.9% in the second quarter. Vanguard Group Inc. now owns 4,519,006 shares of the company’s stock valued at $1,191,617,000 after buying an additional 873,098 shares during the period. Matrix Capital Management Company LP purchased a new stake in TransDigm Group during the third quarter valued at approximately $178,613,000. FMR LLC boosted its stake in TransDigm Group by 37.4% in the second quarter. FMR LLC now owns 2,076,176 shares of the company’s stock valued at $547,466,000 after buying an additional 564,864 shares during the period. Finally, Jana Partners LLC purchased a new stake in TransDigm Group during the first quarter valued at approximately $80,610,000.
TDG has been the subject of several recent analyst reports. Wolfe Research cut TransDigm Group from an “outperform” rating to a “market perform” rating in a research note on Friday, July 29th. Barclays PLC increased their price target on TransDigm Group from $300.00 to $310.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 10th. Deutsche Bank AG increased their price target on TransDigm Group from $260.00 to $300.00 and gave the stock a “hold” rating in a research note on Wednesday, August 10th. Zacks Investment Research cut TransDigm Group from a “hold” rating to a “sell” rating in a research note on Thursday, August 11th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $325.00 price target on shares of TransDigm Group in a research note on Wednesday, September 7th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $266.00.
About TransDigm Group
TransDigm Group Incorporated (TransDigm) is a designer, producer and supplier of engineered aircraft components for use on commercial and military aircraft. The Company operates through three segments: Power & Control, Airframe and Non-aviation. Its Power & 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.
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