The Manufacturers Life Insurance Company Acquires 1,405 Shares of Triumph Group, Inc. (NYSE:TGI)

The Manufacturers Life Insurance Company lifted its holdings in shares of Triumph Group, Inc. (NYSE:TGI) by 4.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 35,340 shares of the aerospace company’s stock after purchasing an additional 1,405 shares during the period. The Manufacturers Life Insurance Company’s holdings in Triumph Group were worth $545,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in TGI. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Triumph Group during the 1st quarter valued at $13,542,000. Kennedy Capital Management LLC boosted its position in Triumph Group by 199.6% during the 1st quarter. Kennedy Capital Management LLC now owns 450,918 shares of the aerospace company’s stock valued at $6,782,000 after buying an additional 300,407 shares during the period. Marshall Wace LLP boosted its position in Triumph Group by 318.2% during the 2nd quarter. Marshall Wace LLP now owns 324,778 shares of the aerospace company’s stock valued at $5,005,000 after buying an additional 247,117 shares during the period. Nisa Investment Advisors LLC boosted its position in Triumph Group by 85,638.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 187,768 shares of the aerospace company’s stock valued at $2,894,000 after buying an additional 187,549 shares during the period. Finally, Point72 Asset Management L.P. boosted its position in Triumph Group by 12.5% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,516,707 shares of the aerospace company’s stock valued at $23,372,000 after buying an additional 168,607 shares during the period. Institutional investors own 94.53% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on TGI. Bank of America cut shares of Triumph Group from a “buy” rating to an “underperform” rating and dropped their price target for the company from $17.00 to $12.00 in a research report on Tuesday, September 24th. Truist Financial cut shares of Triumph Group from a “buy” rating to a “hold” rating and dropped their price target for the company from $17.00 to $15.00 in a research report on Wednesday, August 21st. The Goldman Sachs Group cut shares of Triumph Group from a “buy” rating to a “neutral” rating and dropped their price target for the company from $19.00 to $15.00 in a research report on Tuesday, August 13th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $14.00 target price (down from $20.00) on shares of Triumph Group in a research report on Monday, August 12th. Finally, Barclays dropped their target price on shares of Triumph Group from $18.00 to $16.00 and set an “overweight” rating for the company in a research report on Monday, August 12th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Triumph Group has a consensus rating of “Hold” and an average price target of $15.11.

Triumph Group Price Performance

Shares of Triumph Group stock opened at $15.00 on Wednesday. The company has a 50-day moving average of $13.33 and a 200 day moving average of $14.28. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of 2.26 and a beta of 2.49. Triumph Group, Inc. has a 1 year low of $7.19 and a 1 year high of $17.87.

Triumph Group (NYSE:TGI) last released 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 firm had revenue of $281.00 million for the quarter, compared to the consensus estimate of $274.64 million. Triumph Group had a net margin of 40.39% and a negative return on equity of 1.77%. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.10) earnings per share. On average, equities analysts anticipate that Triumph Group, Inc. will post 0.44 EPS for the current 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.