Millennium Management LLC Lowers Stock Holdings in Triumph Group, Inc. (NYSE:TGI)

Millennium Management LLC cut its position in shares of Triumph Group, Inc. (NYSE:TGI - Free Report) by 24.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 468,589 shares of the aerospace company's stock after selling 152,701 shares during the period. Millennium Management LLC owned approximately 0.61% of Triumph Group worth $7,221,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in TGI. Headlands Technologies LLC purchased a new stake in Triumph Group in the 1st quarter worth about $35,000. Quest Partners LLC purchased a new stake in shares of Triumph Group in the second quarter worth approximately $41,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Triumph Group during the 1st quarter worth approximately $56,000. Lazard Asset Management LLC increased its stake in Triumph Group by 98.3% in the first quarter. Lazard Asset Management LLC now owns 3,877 shares of the aerospace company's stock worth $58,000 after purchasing an additional 1,922 shares during the period. Finally, CWM LLC lifted its position in shares of Triumph Group by 473.7% during the second quarter. CWM LLC now owns 5,146 shares of the aerospace company's stock worth $79,000 after purchasing an additional 4,249 shares during the last quarter. Hedge funds and other institutional investors own 94.53% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Barclays dropped their price objective on shares of Triumph Group from $18.00 to $16.00 and set an "overweight" rating on the stock in a research note on Monday, August 12th. Jefferies Financial Group restated a "hold" rating and set a $14.00 price objective (down from $20.00) on shares of Triumph Group in a research note on Monday, August 12th. Truist Financial cut Triumph Group from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $17.00 to $15.00 in a research note on Wednesday, August 21st. The Goldman Sachs Group cut Triumph Group from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $19.00 to $15.00 in a research note on Tuesday, August 13th. Finally, Bank of America cut Triumph Group from a "buy" rating to an "underperform" rating and decreased their price objective for the stock from $17.00 to $12.00 in a research note on Tuesday, September 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $15.67.

Triumph Group Stock Performance

Triumph Group stock traded up $2.50 during midday trading on Thursday, hitting $14.15. 5,556,036 shares of the company were exchanged, compared to its average volume of 862,861. The firm has a market capitalization of $1.09 billion, a PE ratio of 2.06 and a beta of 2.49. Triumph Group, Inc. has a fifty-two week low of $7.07 and a fifty-two week high of $17.87. The business has a fifty day simple moving average of $13.39 and a two-hundred day simple moving average of $14.29.

Triumph Group (NYSE:TGI - Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The aerospace company reported ($0.06) earnings per share for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.01). The company had revenue of $281.00 million for the quarter, compared to analyst estimates of $274.64 million. Triumph Group had a negative return on equity of 1.77% and a net margin of 40.39%. The business's revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.10) earnings per share. As a group, equities analysts expect that Triumph Group, Inc. will post 0.47 earnings per share for the current year.

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.