Bank of America Corp DE Sells 93,020 Shares of Triumph Group, Inc. (NYSE:TGI)

Bank of America Corp DE trimmed its stake in shares of Triumph Group, Inc. (NYSE:TGI - Free Report) by 31.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 207,348 shares of the aerospace company's stock after selling 93,020 shares during the quarter. Bank of America Corp DE owned 0.27% of Triumph Group worth $3,869,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board boosted its holdings in shares of Triumph Group by 0.5% in the 4th quarter. Canada Pension Plan Investment Board now owns 301,400 shares of the aerospace company's stock worth $5,624,000 after acquiring an additional 1,400 shares in the last quarter. Sterling Capital Management LLC boosted its holdings in shares of Triumph Group by 804.2% in the 4th quarter. Sterling Capital Management LLC now owns 2,351 shares of the aerospace company's stock worth $44,000 after acquiring an additional 2,091 shares in the last quarter. Old West Investment Management LLC boosted its holdings in shares of Triumph Group by 5.9% in the 4th quarter. Old West Investment Management LLC now owns 44,942 shares of the aerospace company's stock worth $839,000 after acquiring an additional 2,516 shares in the last quarter. MetLife Investment Management LLC boosted its holdings in shares of Triumph Group by 9.7% in the 4th quarter. MetLife Investment Management LLC now owns 44,721 shares of the aerospace company's stock worth $834,000 after acquiring an additional 3,941 shares in the last quarter. Finally, Federated Hermes Inc. boosted its holdings in shares of Triumph Group by 2.4% in the 4th quarter. Federated Hermes Inc. now owns 237,275 shares of the aerospace company's stock worth $4,428,000 after acquiring an additional 5,646 shares in the last quarter. 94.53% of the stock is owned by institutional investors and hedge funds.

Triumph Group Stock Up 0.1%

TGI stock traded up $0.02 during trading on Tuesday, hitting $25.79. The company had a trading volume of 1,039,068 shares, compared to its average volume of 1,215,043. The firm has a 50-day moving average price of $25.33 and a 200-day moving average price of $22.82. The stock has a market cap of $2.00 billion, a price-to-earnings ratio of 3.58 and a beta of 2.34. Triumph Group, Inc. has a 12 month low of $11.01 and a 12 month high of $25.86.

Triumph Group (NYSE:TGI - Get Free Report) last issued its earnings results on Wednesday, May 28th. The aerospace company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.31 by $0.17. The company had revenue of $377.90 million during the quarter, compared to analysts' expectations of $334.04 million. Triumph Group had a net margin of 45.08% and a negative return on equity of 55.18%. The business's revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.31 EPS. Equities analysts expect that Triumph Group, Inc. will post 0.68 EPS for the current year.

Insider Buying and Selling at Triumph Group

In related news, CAO Jennifer H. Allen sold 35,000 shares of the company's stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $25.32, for a total value of $886,200.00. Following the completion of the sale, the chief accounting officer now owns 51,696 shares in the company, valued at $1,308,942.72. This represents a 40.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.31% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on TGI shares. Baird R W downgraded Triumph Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 4th. Barclays downgraded Triumph Group from an "overweight" rating to an "equal weight" rating and boosted their target price for the stock from $21.00 to $26.00 in a report on Thursday, February 6th. Robert W. Baird restated a "neutral" rating and issued a $26.00 price objective (up previously from $20.00) on shares of Triumph Group in a research report on Tuesday, February 4th. Truist Financial boosted their price objective on shares of Triumph Group from $19.00 to $26.00 and gave the stock a "hold" rating in a research report on Tuesday, February 4th. Finally, Wall Street Zen assumed coverage on shares of Triumph Group in a research report on Tuesday, May 20th. They issued a "hold" rating for the company. One equities research analyst has rated the stock with a sell rating and ten have issued a hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $20.63.

Triumph Group Profile

Triumph Group, Inc designs, engineers, manufactures, repairs, overhauls, and distributes aircraft, aircraft components, accessories, subassemblies, and systems worldwide. It operates in two segments, Triumph Systems & Support, and Triumph Interiors. The company offers aircraft and engine-mounted accessory drives, thermal control systems and components, cargo hooks, high lift actuations, cockpit control levers, hydraulic systems and components, control system valve bodies, landing gear actuation systems, electronic engine controls, landing gear components and assemblies, cyber protected process controllers, main engine gearbox assemblies, geared transmissions and drive train components, main fuel pumps, fuel-metering units, primary and secondary flight control systems, and vibration absorbers.