Norges Bank Acquires New Stake in Triumph Group, Inc. (NYSE:TGI)

Norges Bank bought a new position in shares of Triumph Group, Inc. (NYSE:TGI) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 854,500 shares of the aerospace company’s stock, valued at approximately $15,945,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Cornerstone Wealth Management LLC grew its holdings in shares of Triumph Group by 3.8% during the fourth quarter. Cornerstone Wealth Management LLC now owns 15,964 shares of the aerospace company’s stock worth $298,000 after purchasing an additional 580 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in Triumph Group in the 4th quarter worth approximately $310,000. Centiva Capital LP purchased a new position in Triumph Group in the 3rd quarter worth approximately $255,000. Amundi increased its holdings in shares of Triumph Group by 168.3% in the 4th quarter. Amundi now owns 37,407 shares of the aerospace company’s stock worth $697,000 after buying an additional 23,466 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in Triumph Group by 7.1% in the third quarter. The Manufacturers Life Insurance Company now owns 37,864 shares of the aerospace company’s stock valued at $488,000 after acquiring an additional 2,524 shares during the last quarter. 94.53% of the stock is currently owned by institutional investors.

Triumph Group Trading Down 2.2 %

TGI stock opened at $24.55 on Tuesday. The stock has a market capitalization of $1.90 billion, a price-to-earnings ratio of 3.41 and a beta of 2.13. The firm’s 50-day moving average price is $24.79 and its two-hundred day moving average price is $19.63. Triumph Group, Inc. has a 12-month low of $11.01 and a 12-month high of $25.55.

Triumph Group (NYSE:TGI) last released its quarterly earnings data on Monday, February 10th. The aerospace company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.03. Triumph Group had a negative return on equity of 55.18% and a net margin of 45.08%. Equities analysts predict that Triumph Group, Inc. will post 0.68 EPS for the current year.

Insider Activity at Triumph Group

In other news, CAO Jennifer H. Allen sold 35,000 shares of the firm’s stock in a transaction dated Thursday, March 13th. The shares were 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 directly 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.31% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on TGI shares. Baird R W lowered Triumph Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 4th. Barclays lowered Triumph Group from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $21.00 to $26.00 in a research note on Thursday, February 6th. Wolfe Research downgraded shares of Triumph Group from an “outperform” rating to a “peer perform” rating in a research note on Monday, February 10th. Truist Financial upped their price objective on shares of Triumph Group from $19.00 to $26.00 and gave the company a “hold” rating in a research note on Tuesday, February 4th. Finally, TD Cowen upgraded shares of Triumph Group to a “hold” rating in a research report on Thursday, December 19th. Two equities research analysts have rated the stock with a sell rating and nine have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $18.88.

Triumph Group Profile

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.