Transdigm Announces Special Dividend; Trimming our FVE to $308
Wide-moat Transdigm has announced a special cash dividend of $24 per share with a record date of Oct. 24. The special dividend was widely anticipated, and the $24 figure equates to roughly $1.3 billion cash out; we were modeling a $20 per share dividend. Transdigm is also retiring $500 million in debt and raising an additional $1.15 billion of debt. These moves, combined with a slightly higher special dividend than we were expecting, result in a decrease of our fair value estimate to $308, down ...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.
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