Qube Research & Technologies Ltd Acquires New Position in Triumph Group, Inc. (NYSE: TGI)
Qube Research & Technologies Ltd bought a new position in shares of Triumph Group, Inc. (NYSE: TGI – Get a rating) in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 32,198 shares of the aerospace company, valued at around $814,000.
A number of other institutional investors and hedge funds have also recently changed their positions in TGI. Sachem Head Capital Management LP bought a new position in Triumph Group in Q4 valued at around $18,584,000. New York State Common Retirement Fund increased its stake in Triumph Group by 949.5% in Q1. The New York State Common Retirement Fund now owns 476,901 shares of the aerospace company valued at $12,056,000 after buying an additional 431,460 shares in the last quarter. Cartenna Capital LP increased its stake in Triumph Group by 95.0% in the 4th quarter. Cartenna Capital LP now owns 492,277 shares of the aerospace company valued at $9,122,000 after purchasing an additional 239,777 shares in the last quarter. Bank of America Corp DE increased its position in Triumph Group by 417.5% in the 4th quarter. Bank of America Corp DE now owns 276,966 shares of the aerospace company valued at $5,131,000 after acquiring an additional 223,448 shares during the period. Finally, Victory Capital Management Inc. increased its position in Triumph Group by 7.1% in the 4th quarter. Victory Capital Management Inc. now owns 1,323,986 shares of the aerospace company valued at $24,533,000 after acquiring an additional 87,926 shares during the period. Institutional investors hold 95.71% of the company’s shares.
Triumph Group Price Performance
Shares of Triumph Group Stock opened at $14.95 on Friday. The company has a market capitalization of $971.30 million, a PE ratio of -42.71, a PEG ratio of 18.24 and a beta of 2.66. Triumph Group, Inc. has a 1-year low of $11.47 and a 1-year high of $27.85. The company has a 50-day simple moving average of $13.92 and a two-hundred-day simple moving average of $19.19.
Triumph Group (NYSE: TGI – Get a rating) last reported results on Wednesday, May 18. The aerospace company reported earnings per share of $0.39 for the quarter, missing analyst consensus estimates of $0.41 per ($0.02). The company posted revenue of $386.70 million in the quarter, compared to $405.19 million expected by analysts. Triumph Group had a negative return on equity of 6.61% and a negative net margin of 1.61%. The company’s quarterly revenue fell 17.2% from the same quarter last year. In the same period of the previous year, the company had earned earnings per share of $0.10. As a group, research analysts expect Triumph Group, Inc. to post 0.33 earnings per share for the current year.
Analysts set new price targets
Several equity analysts have published reports on TGI shares. Barclays cut its price target on Triumph Group shares from $20.00 to $13.00 in a Tuesday, June 21 research report. Truist Financial cut its price target on Triumph Group shares from $24.00 to $20.00 and set a “buy” rating for the company in a Tuesday, July 19 research report. Goldman Sachs Group cut its price target on Triumph Group shares from $18.00 to $16.00 and set a “neutral” rating for the company in a Tuesday, July 12 research report. UBS Group lowered its price target on Triumph Group shares to $24.00 and set a “hold” rating for the company in a Thursday, May 19 research report. Finally, Robert W. Baird cut his price target on Triumph Group shares from $36.00 to $26.00 and set an “outperform” rating for the company in a Thursday, May 19 research report. Two investment analysts gave the stock a sell rating, two gave the company a hold rating and three gave the company a buy rating. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $20.83.
Insider buying and selling
In other news, Director Neal J. Keating bought 8,000 shares of the company in a deal that took place on Friday, May 27. The shares were purchased at an average price of $15.47 per share, for a total transaction of $123,760.00. As a result of the purchase, the administrator now directly owns 9,080 shares of the company, valued at approximately $140,467.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available via this link. 1.90% of the shares are currently held by insiders of the company.
Triumph Group Company Profile
Triumph Group, Inc designs, engineers, manufactures, repairs, overhauls and distributes aerostructures, aircraft components, accessories, sub-assemblies and systems worldwide. It operates in two segments, Triumph Systems & Support and Triumph Aerospace Structures. The Company offers aircraft and engine mounted accessory drives, thermal control systems and components, cargo hooks, high lift actuators, cockpit control levers, hydraulic systems and components, control system valves, landing gear actuation systems, electronic engine controls, landing gear components and assemblies, exhaust nozzles and ducts, main engine gearbox assemblies, gear transmissions and transmission components, main fuel pumps, fuel metering units, primary and secondary flight control systems and vibration dampers.
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