Triumph Group, Inc. (NYSE:TGI) Shares Sold by New York State Common Retirement Fund

Key Points

• The New York State Common Retirement Fund sold 605,070 shares of Triumph Group, Inc., reducing its stake by 96.2% to 23,900 shares.
• Institutional ownership of Triumph Group is high, with 94.53% of the company's stock held by institutional investors, including significant increases in stake by firms like Sterling Capital Management and Point72 Asia Singapore.
• Triumph Group's stock currently holds a consensus rating of "Hold" with an average price target of $20.63, and the company recently reported $0.48 EPS for the quarter, surpassing estimates.

New York State Common Retirement Fund cut its position in Triumph Group, Inc. (NYSE:TGI - Free Report) by 96.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,900 shares of the aerospace company's stock after selling 605,070 shares during the quarter. New York State Common Retirement Fund's holdings in Triumph Group were worth $606,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sterling Capital Management LLC increased its holdings in Triumph Group by 804.2% in the fourth quarter. Sterling Capital Management LLC now owns 2,351 shares of the aerospace company's stock valued at $44,000 after buying an additional 2,091 shares during the last quarter. KBC Group NV bought a new stake in shares of Triumph Group in the 1st quarter valued at approximately $79,000. Point72 Asia Singapore Pte. Ltd. lifted its stake in Triumph Group by 58.1% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,761 shares of the aerospace company's stock worth $126,000 after purchasing an additional 2,484 shares during the last quarter. Brevan Howard Capital Management LP boosted its holdings in Triumph Group by 17.1% in the fourth quarter. Brevan Howard Capital Management LP now owns 12,306 shares of the aerospace company's stock worth $230,000 after purchasing an additional 1,798 shares during the period. Finally, Capula Management Ltd acquired a new position in Triumph Group in the fourth quarter worth $297,000. 94.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. upgraded shares of Triumph Group from an "underweight" rating to a "neutral" rating and raised their price target for the stock from $17.00 to $26.00 in a research report on Tuesday, April 15th. Wall Street Zen assumed coverage on shares of Triumph Group in a research report on Tuesday, May 20th. They issued a "hold" rating on the stock. One research analyst has rated the stock with a sell rating and ten have given a hold rating to the company. According to data from MarketBeat, Triumph Group currently has an average rating of "Hold" and an average price target of $20.63.

Triumph Group Trading Up 0.6%

Triumph Group stock traded up $0.16 during midday trading on Friday, reaching $26.01. 6,527,511 shares of the stock traded hands, compared to its average volume of 1,331,459. The firm has a fifty day moving average price of $25.81 and a two-hundred day moving average price of $24.70. The firm has a market cap of $2.02 billion, a price-to-earnings ratio of 50.01 and a beta of 2.26. Triumph Group, Inc. has a fifty-two week low of $11.01 and a fifty-two week high of $26.03.

Triumph Group (NYSE:TGI - Get Free Report) last announced its earnings results on Wednesday, May 28th. The aerospace company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.17. Triumph Group had a negative return on equity of 74.53% and a net margin of 3.24%. The firm had revenue of $377.90 million for the quarter, compared to the consensus estimate of $334.04 million. During the same quarter in the previous year, the business earned $0.31 EPS. The firm's revenue for the quarter was up 5.4% on a year-over-year basis. Analysts anticipate that Triumph Group, Inc. will post 0.68 earnings per share for the current 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.