Wells Fargo & Company MN decreased its position in Triumph Group Inc (NYSE:TGI) by 2.2% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 395,328 shares of the aerospace company’s stock after selling 8,781 shares during the period. Wells Fargo & Company MN’s holdings in Triumph Group were worth $9,053,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in TGI. NumerixS Investment Technologies Inc bought a new stake in Triumph Group in the 1st quarter valued at $86,000. Emerald Advisers LLC bought a new stake in Triumph Group in the 2nd quarter valued at $204,000. BNP Paribas Arbitrage SA lifted its position in Triumph Group by 135.5% in the 1st quarter. BNP Paribas Arbitrage SA now owns 11,400 shares of the aerospace company’s stock valued at $217,000 after acquiring an additional 6,560 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in Triumph Group in the 1st quarter valued at $223,000. Finally, Connable Office Inc. bought a new stake in Triumph Group in the 1st quarter valued at $224,000.
Several equities research analysts recently commented on the stock. Barclays cut shares of Triumph Group from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $23.00 to $20.00 in a research report on Friday, August 23rd. Zacks Investment Research raised shares of Triumph Group from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a research report on Monday, July 8th. Finally, ValuEngine cut shares of Triumph Group from a “hold” rating to a “sell” rating in a research report on Thursday, August 15th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $23.61.
Shares of NYSE:TGI traded up $1.39 on Friday, reaching $25.65. 340,863 shares of the company’s stock were exchanged, compared to its average volume of 326,062. The company has a fifty day moving average of $22.30 and a 200-day moving average of $21.80. Triumph Group Inc has a twelve month low of $11.16 and a twelve month high of $26.00. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of 10.30, a PEG ratio of 1.89 and a beta of 2.77.
Triumph Group (NYSE:TGI) last announced its earnings results on Wednesday, July 31st. The aerospace company reported $0.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.01. Triumph Group had a negative net margin of 6.96% and a negative return on equity of 29.65%. The firm had revenue of $730.20 million for the quarter, compared to analyst estimates of $700.19 million. During the same quarter in the prior year, the business posted $0.34 EPS. The business’s revenue was down 12.3% compared to the same quarter last year. Equities analysts predict that Triumph Group Inc will post 2.55 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be given a dividend of $0.04 per share. The ex-dividend date is Thursday, August 29th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.62%. Triumph Group’s payout ratio is presently 6.43%.
About Triumph Group
Triumph Group, Inc designs, engineers, manufactures, repairs, overhauls, and distributes aerostructures, aircraft components, accessories, subassemblies, and systems worldwide. The company operates in three segments: Integrated Systems, Aerospace Structures, and Product Support. It offers aircraft and engine-mounted accessory drives, thermal control systems and components, cargo hooks, high lift actuations, cockpit control levers, hydraulic systems and components, landing gear actuation systems, control system valve bodies, landing gear components and assemblies, electronic engine controls, main engine gear box assemblies, exhaust nozzles and ducting, fuel pumps, geared transmissions and drive train components, secondary flight control systems, fuel metering units, and vibration absorbers.
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