New York State Common Retirement Fund Cuts Position in Triumph Group, Inc. (NYSE:TGI)

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 reduced its position in shares of Triumph Group, Inc. (NYSE:TGI - Free Report) by 96.2% during the 1st quarter, according to its most recent 13F filing with the Securities & 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 & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. increased its holdings in Triumph Group by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 385,198 shares of the aerospace company's stock worth $9,761,000 after purchasing an additional 10,302 shares during the period. Teacher Retirement System of Texas bought a new stake in Triumph Group during the 1st quarter valued at $501,000. KBC Group NV bought a new stake in Triumph Group during the 1st quarter valued at $79,000. GAMMA Investing LLC boosted its position in Triumph Group by 3,263.7% during the 1st quarter. GAMMA Investing LLC now owns 20,855 shares of the aerospace company's stock valued at $528,000 after acquiring an additional 20,235 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Triumph Group by 17.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 191,866 shares of the aerospace company's stock valued at $3,580,000 after acquiring an additional 29,093 shares in the last quarter. 94.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TGI has been the topic of several recent research reports. JPMorgan Chase & Co. raised Triumph Group from an "underweight" rating to a "neutral" rating and increased their target price for the company from $17.00 to $26.00 in a research report on Tuesday, April 15th. Wall Street Zen assumed coverage on Triumph Group in a research report on Tuesday, May 20th. They set a "hold" rating on the stock. One investment analyst has rated the stock with a sell rating and ten have given a hold rating to the stock. According to data from MarketBeat.com, Triumph Group presently has an average rating of "Hold" and an average price target of $20.63.

Triumph Group Stock Performance

TGI stock traded up $0.16 during midday trading on Tuesday, reaching $26.01. The stock had a trading volume of 6,527,511 shares, compared to its average volume of 1,331,459. The firm has a fifty day simple moving average of $25.82 and a two-hundred day simple moving average of $24.79. The stock has a market cap of $2.02 billion, a PE ratio of 50.01 and a beta of 2.26. Triumph Group, Inc. has a 52-week low of $11.01 and a 52-week high of $26.03.

Triumph Group (NYSE:TGI - Get Free Report) last released its quarterly earnings data on Wednesday, May 28th. The aerospace company reported $0.48 earnings per share for the quarter, beating analysts' consensus estimates of $0.31 by $0.17. The business had revenue of $377.90 million during the quarter, compared to analyst estimates of $334.04 million. Triumph Group had a negative return on equity of 74.53% and a net margin of 3.24%. The company's revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the business posted $0.31 EPS. On average, sell-side analysts predict 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.