Lots to Like in TransDigm's 2Q Results; Moving Up Our FVE
Wide-moat TransDigm reported fiscal second-quarter results that featured solid revenue growth and a guidance upgrade. We plan to up our 2018 revenue projection and increase margins modestly; this will add $5 to our previous fair value of $293. Although we think shares are a touch overvalued, there’s a lot to like at TransDigm, including the closure of the Kirkhill and Extant deals, accelerating organic growth, and a formalized succession plan, which will put Kevin Stein, the COO, in the CEO suit...TransDigm Group is a holding company. Through its subsidiaries, the company designs, produces and supplies aircraft components for use on commercial and military aircraft. The company's segments are: Power and Control, which develops, produces and markets systems and components that provide power to or control power of the aircraft utilizing electronic, fluid, power and mechanical motion control technologies; Airframe, which develops, produces and markets systems and components that are used in non-power airframe applications utilizing airframe and cabin structure technologies; and Non-aviation, which develops, produces and markets products for non-aviation markets.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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