Renaissance Technologies LLC Cuts Position in Triumph Group, Inc. (NYSE:TGI)

Renaissance Technologies LLC cut its holdings in Triumph Group, Inc. (NYSE:TGI - Free Report) by 64.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 72,200 shares of the aerospace company's stock after selling 133,600 shares during the period. Renaissance Technologies LLC owned 0.09% of Triumph Group worth $1,347,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. raised its position in Triumph Group by 124.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,318,285 shares of the aerospace company's stock valued at $43,259,000 after purchasing an additional 1,286,568 shares during the period. Barclays PLC raised its holdings in Triumph Group by 155.8% in the 3rd quarter. Barclays PLC now owns 148,530 shares of the aerospace company's stock valued at $1,915,000 after buying an additional 90,456 shares during the period. Raymond James Financial Inc. purchased a new stake in Triumph Group in the 4th quarter valued at about $1,095,000. JPMorgan Chase & Co. lifted its position in Triumph Group by 1,207.4% in the third quarter. JPMorgan Chase & Co. now owns 538,904 shares of the aerospace company's stock valued at $6,946,000 after buying an additional 497,684 shares during the last quarter. Finally, American Century Companies Inc. purchased a new position in Triumph Group during the fourth quarter worth about $30,845,000. 94.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Triumph Group news, CAO Jennifer H. Allen sold 35,000 shares of Triumph Group stock in a transaction dated Thursday, March 13th. The stock was 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. The trade was a 40.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.31% of the company's stock.

Triumph Group Stock Performance

TGI stock traded down $0.05 during trading on Wednesday, hitting $25.40. The stock had a trading volume of 822,444 shares, compared to its average volume of 1,229,511. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of 3.53 and a beta of 2.13. The company's 50 day moving average price is $25.19 and its two-hundred day moving average price is $21.07. Triumph Group, Inc. has a 1-year low of $11.01 and a 1-year high of $25.55.

Triumph Group (NYSE:TGI - Get Free Report) last posted its quarterly earnings data on Monday, February 10th. The aerospace company reported $0.27 earnings per share for the quarter, beating analysts' consensus estimates of $0.24 by $0.03. Triumph Group had a net margin of 45.08% and a negative return on equity of 55.18%. As a group, sell-side analysts forecast that Triumph Group, Inc. will post 0.68 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Robert W. Baird restated a "neutral" rating and issued a $26.00 price objective (up from $20.00) on shares of Triumph Group in a report on Tuesday, February 4th. JPMorgan Chase & Co. raised Triumph Group from an "underweight" rating to a "neutral" rating and increased their target price for the stock from $17.00 to $26.00 in a research note on Tuesday, April 15th. Barclays lowered Triumph Group from an "overweight" rating to an "equal weight" rating and lifted their target price for the company from $21.00 to $26.00 in a report on Thursday, February 6th. Baird R W cut Triumph Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 4th. Finally, Wolfe Research downgraded shares of Triumph Group from an "outperform" rating to a "peer perform" rating in a research report on Monday, February 10th. One analyst has rated the stock with a sell rating and ten have issued a hold rating to the company. According to data from MarketBeat.com, Triumph Group has an average rating of "Hold" and a consensus price target of $20.63.

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.