Bank of America Corp DE Has $3.87 Million Stock Position in Triumph Group, Inc. (NYSE:TGI)

Bank of America Corp DE decreased its holdings in shares of Triumph Group, Inc. (NYSE:TGI - Free Report) by 31.0% during the fourth quarter, according to its most recent Form 13F filing 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 and hedge funds have also recently bought and sold shares of the company. American Century Companies Inc. purchased a new position in Triumph Group in the fourth quarter valued at about $30,845,000. Norges Bank purchased a new position in Triumph Group in the fourth quarter valued at about $15,945,000. First Trust Advisors LP grew its stake in Triumph Group by 59.6% in the fourth quarter. First Trust Advisors LP now owns 1,702,245 shares of the aerospace company's stock valued at $31,764,000 after purchasing an additional 635,568 shares in the last quarter. Barclays PLC grew its stake in Triumph Group by 248.6% in the fourth quarter. Barclays PLC now owns 517,703 shares of the aerospace company's stock valued at $9,660,000 after purchasing an additional 369,173 shares in the last quarter. Finally, Fisher Asset Management LLC grew its stake in Triumph Group by 17.9% in the fourth quarter. Fisher Asset Management LLC now owns 1,829,860 shares of the aerospace company's stock valued at $34,145,000 after purchasing an additional 277,333 shares in the last quarter. Hedge funds and other institutional investors own 94.53% of the company's stock.

Analyst Upgrades and Downgrades

TGI has been the subject of several recent analyst reports. Wolfe Research downgraded Triumph Group from an "outperform" rating to a "peer perform" rating in a research note on Monday, February 10th. Truist Financial upped their price target on Triumph Group from $19.00 to $26.00 and gave the stock a "hold" rating in a research note on Tuesday, February 4th. Barclays downgraded Triumph Group from an "overweight" rating to an "equal weight" rating and upped their price target for the stock from $21.00 to $26.00 in a research note on Thursday, February 6th. Wall Street Zen started coverage on Triumph Group in a research report on Tuesday, May 20th. They set a "hold" rating for the company. Finally, Baird R W cut Triumph Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating and ten have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $20.63.

Insider Transactions at Triumph Group

In other news, CAO Jennifer H. Allen sold 35,000 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $25.32, for a total transaction of $886,200.00. Following the completion of the sale, the chief accounting officer now owns 51,696 shares of the company's stock, valued at approximately $1,308,942.72. This trade represents a 40.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 2.31% of the stock is currently owned by insiders.

Triumph Group Stock Down 0.1%

Triumph Group stock traded down $0.03 during trading hours on Friday, hitting $25.78. The stock had a trading volume of 848,488 shares, compared to its average volume of 1,216,086. The company has a 50-day moving average of $25.32 and a two-hundred day moving average of $22.68. The company has a market cap of $2.00 billion, a PE ratio of 3.58 and a beta of 2.34. Triumph Group, Inc. has a fifty-two week low of $11.01 and a fifty-two week high of $25.86.

Triumph Group (NYSE:TGI - Get Free Report) last posted its quarterly 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 firm had revenue of $377.90 million during the quarter, compared to analysts' expectations of $334.04 million. Triumph Group had a negative return on equity of 55.18% and a net margin of 45.08%. The company's revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.31 EPS. As a group, analysts forecast that Triumph Group, Inc. will post 0.68 EPS for the current fiscal year.

About Triumph Group

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.