5 Stocks Gaining Attention After Beating Profit Expectations

3. TransDigm Group Incorporated (NYSE:TDG)

Number of Hedge Fund Holders: 57

Shares of TransDigm Group Incorporated (NYSE:TDG) closed higher on Monday, 15 November 2021, after surpassing profit expectations for its fiscal fourth quarter. The aerospace manufacturing company reported adjusted earnings of $4.25 per share, up 47 percent from $2.89 per share in the year-ago quarter.

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In addition, TransDigm Group Incorporated (NYSE:TDG) posted revenue of $1.28 billion, up 9 percent versus the same period last year. Analysts were looking for earnings of $3.52 per share on revenue of $1.32 billion.

Discussing the results, CEO Kevin Stein said:

“Trends remain favorable for the recovery of the commercial aerospace industry. Air traffic continues to improve globally, along with vaccination rates. The recovery remains primarily driven by domestic air travel, though international travel restrictions are starting to soften in certain markets, which is encouraging.”