Ameriprise Financial Inc. lowered its stake in shares of Triumph Group Inc. (NYSE:TGI) by 16.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 303,968 shares of the company’s stock after selling 60,592 shares during the period. Ameriprise Financial Inc. owned about 0.61% of Triumph Group worth $10,788,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the stock. Trust Department MB Financial Bank N A raised its stake in Triumph Group by 633.3% in the second quarter. Trust Department MB Financial Bank N A now owns 1,716 shares of the company’s stock valued at $114,000 after buying an additional 1,482 shares during the last quarter. LS Investment Advisors LLC raised its stake in Triumph Group by 72.2% in the second quarter. LS Investment Advisors LLC now owns 3,054 shares of the company’s stock valued at $108,000 after buying an additional 1,280 shares during the last quarter. Quantitative Systematic Strategies LLC acquired a new stake in Triumph Group during the second quarter valued at $203,000. Banced Corp acquired a new stake in Triumph Group during the second quarter valued at $319,000. Finally, Wright Investors Service Inc. raised its stake in Triumph Group by 0.9% in the second quarter. Wright Investors Service Inc. now owns 12,360 shares of the company’s stock valued at $439,000 after buying an additional 110 shares during the last quarter. Hedge funds and other institutional investors own 99.35% of the company’s stock.
Shares of Triumph Group Inc. (NYSE:TGI) traded up 1.87% during midday trading on Friday, reaching $27.79. 167,178 shares of the company’s stock were exchanged. The company’s market capitalization is $1.38 billion. Triumph Group Inc. has a 1-year low of $22.94 and a 1-year high of $47.28. The firm has a 50-day moving average of $30.60 and a 200-day moving average of $34.02.
Triumph Group (NYSE:TGI) last posted its quarterly earnings results on Thursday, July 28th. The company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.10. The business had revenue of $893.30 million for the quarter, compared to analysts’ expectations of $896.80 million. Triumph Group had a positive return on equity of 15.92% and a negative net margin of 28.46%. The firm’s quarterly revenue was down 6.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.31 earnings per share. Equities analysts expect that Triumph Group Inc. will post $3.32 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were issued a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.59%. The ex-dividend date was Tuesday, August 30th. Triumph Group’s dividend payout ratio is -0.72%.
Several research firms have weighed in on TGI. Credit Suisse Group AG reiterated a “buy” rating and set a $44.00 target price on shares of Triumph Group in a research note on Friday, July 29th. Canaccord Genuity reiterated a “hold” rating on shares of Triumph Group in a research note on Friday, July 29th. Zacks Investment Research upgraded shares of Triumph Group from a “strong sell” rating to a “hold” rating in a research note on Monday, September 12th. Deutsche Bank AG reiterated a “buy” rating and set a $45.00 target price (up previously from $40.00) on shares of Triumph Group in a research note on Monday, June 13th. Finally, Jefferies Group lowered their target price on shares of Triumph Group from $54.00 to $44.00 and set a “buy” rating for the company in a research note on Friday, July 29th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Triumph Group currently has an average rating of “Buy” and an average price target of $45.08.
About Triumph Group
Triumph Group, Inc (Triumph) designs, engineers, manufactures, repairs, overhauls and distributes a portfolio of aerostructures, aircraft components, accessories, subassemblies and systems. It serves the aviation industry, including original equipment manufacturers (OEMs), of commercial, regional, business and military aircraft and aircraft components, as well as commercial and regional airlines and air cargo carriers.
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