TransDigm’s Shares Drop on 2017 Guidance and Debt Concerns, but Business Fundamentals Positive
Wide-moat TransDigm reported fiscal 2016 results that beat consensus EPS expectations but provided guidance that the market didn’t like for fiscal 2017. In our view, the guidance combined with debt markets potentially turning against the highly leveraged company created a sell-off. Performance still looks solid, and aside from a bit of softness in hardware sales, which is nothing new, we don’t see fundamental business reasons for the pessimism. We’re planning to slightly lower our fair value est...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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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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