Connor Clark & Lunn Investment Management Ltd. Sells 213,089 Shares of Triumph Group, Inc. (NYSE:TGI)

Connor Clark & Lunn Investment Management Ltd. cut its stake in shares of Triumph Group, Inc. (NYSE:TGI - Free Report) by 83.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 42,256 shares of the aerospace company's stock after selling 213,089 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.05% of Triumph Group worth $788,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Assenagon Asset Management S.A. increased its stake in Triumph Group by 124.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,318,285 shares of the aerospace company's stock valued at $43,259,000 after purchasing an additional 1,286,568 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Triumph Group by 1,207.4% during the third quarter. JPMorgan Chase & Co. now owns 538,904 shares of the aerospace company's stock valued at $6,946,000 after buying an additional 497,684 shares during the last quarter. State Street Corp increased its position in shares of Triumph Group by 7.8% during the third quarter. State Street Corp now owns 4,447,835 shares of the aerospace company's stock valued at $57,333,000 after acquiring an additional 322,048 shares in the last quarter. Fisher Asset Management LLC raised its holdings in Triumph Group by 17.9% in the 4th quarter. Fisher Asset Management LLC now owns 1,829,860 shares of the aerospace company's stock worth $34,145,000 after acquiring an additional 277,333 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in Triumph Group by 18,544.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 256,554 shares of the aerospace company's stock valued at $4,787,000 after acquiring an additional 255,178 shares in the last quarter. Hedge funds and other institutional investors own 94.53% of the company's stock.

Remove Ads

Insider Activity

In other Triumph Group news, CAO Jennifer H. Allen sold 35,000 shares of Triumph Group stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $25.32, for a total value of $886,200.00. Following the sale, the chief accounting officer now directly owns 51,696 shares in the company, valued at approximately $1,308,942.72. The trade was a 40.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.31% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on TGI. Barclays lowered Triumph Group from an "overweight" rating to an "equal weight" rating and lifted their target price for the stock from $21.00 to $26.00 in a report on Thursday, February 6th. StockNews.com started coverage on Triumph Group in a report on Tuesday. They issued a "hold" rating for the company. Robert W. Baird restated a "neutral" rating and set a $26.00 target price (up previously from $20.00) on shares of Triumph Group in a research note on Tuesday, February 4th. TD Cowen raised shares of Triumph Group to a "hold" rating in a report on Thursday, December 19th. Finally, Truist Financial boosted their price objective on shares of Triumph Group from $19.00 to $26.00 and gave the company a "hold" rating in a report on Tuesday, February 4th. Two analysts have rated the stock with a sell rating and nine have assigned a hold rating to the stock. According to data from MarketBeat.com, Triumph Group currently has a consensus rating of "Hold" and an average price target of $18.78.

Triumph Group Trading Up 0.1 %

NYSE TGI traded up $0.02 during trading hours on Tuesday, hitting $25.49. 624,445 shares of the company's stock traded hands, compared to its average volume of 1,002,949. The business's fifty day moving average price is $23.52 and its two-hundred day moving average price is $18.78. The firm has a market capitalization of $1.97 billion, a P/E ratio of 3.54 and a beta of 2.53. Triumph Group, Inc. has a 52 week low of $11.01 and a 52 week high of $25.48.

Triumph Group (NYSE:TGI - Get Free Report) last posted its quarterly earnings data on Monday, February 10th. The aerospace company reported $0.27 earnings per share 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%. On average, sell-side analysts expect that Triumph Group, Inc. will post 0.68 EPS for the current fiscal year.

About Triumph Group

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.