Renaissance Technologies LLC Sells 133,600 Shares of Triumph Group, Inc. (NYSE:TGI)

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

Several other hedge funds and other institutional investors have also bought and sold shares of TGI. Cornerstone Wealth Management LLC raised its stake in shares of Triumph Group by 3.8% during the 4th 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 during the period. KLP Kapitalforvaltning AS purchased a new stake in Triumph Group during the fourth quarter worth about $310,000. Amundi raised its position in Triumph Group by 168.3% in the fourth quarter. Amundi now owns 37,407 shares of the aerospace company's stock worth $697,000 after acquiring an additional 23,466 shares during the period. Illinois Municipal Retirement Fund purchased a new position in Triumph Group in the fourth quarter valued at about $788,000. Finally, Old West Investment Management LLC grew its position in shares of Triumph Group by 5.9% during the 4th quarter. Old West Investment Management LLC now owns 44,942 shares of the aerospace company's stock valued at $839,000 after acquiring an additional 2,516 shares during the period. Hedge funds and other institutional investors own 94.53% of the company's stock.

Insider Activity

In other news, CAO Jennifer H. Allen sold 35,000 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $25.32, for a total transaction of $886,200.00. Following the transaction, the chief accounting officer now directly owns 51,696 shares in the company, valued at approximately $1,308,942.72. This represents a 40.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.31% of the company's stock.

Triumph Group Stock Performance

NYSE:TGI opened at $25.35 on Tuesday. Triumph Group, Inc. has a 52-week low of $11.01 and a 52-week high of $25.55. The stock has a fifty day moving average of $25.18 and a 200 day moving average of $21.01. The firm has a market capitalization of $1.96 billion, a price-to-earnings ratio of 3.52 and a beta of 2.13.

Triumph Group (NYSE:TGI - Get Free Report) last issued its quarterly earnings results on Monday, February 10th. The aerospace company reported $0.27 earnings per share (EPS) for the quarter, beating 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%. Equities 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 recently commented on TGI shares. JPMorgan Chase & Co. upgraded Triumph Group from an "underweight" rating to a "neutral" rating and upped their price objective for the company from $17.00 to $26.00 in a research note on Tuesday, April 15th. Truist Financial increased their price target on Triumph Group from $19.00 to $26.00 and gave the stock a "hold" rating in a research note on Tuesday, February 4th. Baird R W cut Triumph Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 4th. Wolfe Research cut shares of Triumph Group from an "outperform" rating to a "peer perform" rating in a research note on Monday, February 10th. Finally, StockNews.com started coverage on shares of Triumph Group in a research note on Saturday. They issued a "hold" rating for the company. One analyst has rated the stock with a sell rating and ten have assigned a hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $20.63.

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.

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