Bank of New York Mellon Corp Sells 14,751 Shares of Triumph Group, Inc. (NYSE:TGI)

Bank of New York Mellon Corp lessened its holdings in Triumph Group, Inc. (NYSE:TGI - Free Report) by 3.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 477,227 shares of the aerospace company's stock after selling 14,751 shares during the quarter. Bank of New York Mellon Corp owned 0.62% of Triumph Group worth $8,905,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Old West Investment Management LLC grew its holdings in Triumph Group by 1.3% during the third quarter. Old West Investment Management LLC now owns 42,426 shares of the aerospace company's stock worth $547,000 after acquiring an additional 565 shares during the period. Cornerstone Wealth Management LLC boosted its position in 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. MetLife Investment Management LLC boosted its position in Triumph Group by 5.3% during the third quarter. MetLife Investment Management LLC now owns 40,780 shares of the aerospace company's stock worth $526,000 after purchasing an additional 2,043 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in Triumph Group by 7.1% during the third quarter. The Manufacturers Life Insurance Company now owns 37,864 shares of the aerospace company's stock worth $488,000 after purchasing an additional 2,524 shares in the last quarter. Finally, GSA Capital Partners LLP boosted its position in Triumph Group by 14.1% during the third quarter. GSA Capital Partners LLP now owns 26,374 shares of the aerospace company's stock worth $340,000 after purchasing an additional 3,253 shares in the last quarter. 94.53% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

A number of analysts have commented on TGI shares. Barclays downgraded Triumph Group from an "overweight" rating to an "equal weight" rating and boosted their target price for the stock from $21.00 to $26.00 in a research report on Thursday, February 6th. StockNews.com initiated coverage on Triumph Group in a research report on Monday. They set a "hold" rating 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 research report on Tuesday, February 4th. TD Cowen upgraded Triumph Group to a "hold" rating in a research report on Thursday, December 19th. Finally, Truist Financial upped their price objective on Triumph Group from $19.00 to $26.00 and gave the company a "hold" rating in a research report on Tuesday, February 4th. Two research analysts have rated the stock with a sell rating and nine have given a hold rating to the stock. Based on data from MarketBeat.com, Triumph Group currently has an average rating of "Hold" and an average target price of $18.78.

Insider Activity

In other news, CAO Jennifer H. Allen sold 35,000 shares of the firm's stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $25.32, for a total transaction 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 $1,308,942.72. This trade represents a 40.37 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.31% of the stock is owned by insiders.

Triumph Group Stock Performance

Shares of TGI stock traded down $0.01 during trading hours on Tuesday, reaching $25.39. The company had a trading volume of 864,064 shares, compared to its average volume of 991,263. The company has a market capitalization of $1.97 billion, a P/E ratio of 3.53 and a beta of 2.53. Triumph Group, Inc. has a twelve month low of $11.01 and a twelve month high of $25.44. The stock's fifty day simple moving average is $22.83 and its 200 day simple moving average is $18.36.

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

Triumph Group Company 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.