JPMorgan Chase & Co. Trims Holdings in Triumph Group, Inc. (NYSE:TGI)

JPMorgan Chase & Co. cut its holdings in Triumph Group, Inc. (NYSE:TGI) by 33.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 360,009 shares of the aerospace company’s stock after selling 178,895 shares during the period. JPMorgan Chase & Co.’s holdings in Triumph Group were worth $6,718,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Assenagon Asset Management S.A. increased its position in Triumph Group by 124.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,318,285 shares of the aerospace company’s stock worth $43,259,000 after purchasing an additional 1,286,568 shares during the last quarter. Barclays PLC increased its holdings in shares of Triumph Group by 155.8% during the 3rd quarter. Barclays PLC now owns 148,530 shares of the aerospace company’s stock worth $1,915,000 after buying an additional 90,456 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Triumph Group in the 4th quarter worth $1,095,000. American Century Companies Inc. acquired a new position in Triumph Group in the fourth quarter valued at $30,845,000. Finally, Principal Financial Group Inc. grew its position in Triumph Group by 2.9% during the fourth quarter. Principal Financial Group Inc. now owns 374,896 shares of the aerospace company’s stock valued at $6,996,000 after acquiring an additional 10,629 shares during the period. Hedge funds and other institutional investors own 94.53% of the company’s stock.

Triumph Group Trading Down 0.7 %

NYSE TGI opened at $24.68 on Friday. The company has a 50-day moving average price of $25.22 and a two-hundred day moving average price of $20.31. The stock has a market cap of $1.91 billion, a price-to-earnings ratio of 3.43 and a beta of 2.13. Triumph Group, Inc. has a 52 week low of $11.01 and a 52 week high of $25.55.

Triumph Group (NYSE:TGI) last posted its quarterly earnings data on Monday, February 10th. The aerospace company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.03. Triumph Group had a net margin of 45.08% and a negative return on equity of 55.18%. As a group, equities research analysts expect that Triumph Group, Inc. will post 0.68 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Triumph Group news, CAO Jennifer H. Allen sold 35,000 shares of the firm’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $25.32, for a total value of $886,200.00. Following the completion of the transaction, the chief accounting officer now directly owns 51,696 shares in the company, valued at $1,308,942.72. This trade represents a 40.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 2.31% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

TGI has been the topic of a number of recent research reports. Robert W. Baird reaffirmed a “neutral” rating and set a $26.00 price target (up from $20.00) on shares of Triumph Group in a research report on Tuesday, February 4th. Truist Financial boosted their price target on Triumph Group from $19.00 to $26.00 and gave the stock a “hold” rating in a research report on Tuesday, February 4th. Wolfe Research downgraded shares of Triumph Group from an “outperform” rating to a “peer perform” rating in a research note on Monday, February 10th. StockNews.com assumed coverage on Triumph Group in a research report on Friday. They set a “hold” rating on the stock. Finally, TD Cowen upgraded Triumph Group to a “hold” rating in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating and ten have assigned a hold rating to the company’s stock. According to MarketBeat.com, Triumph Group presently has a consensus rating of “Hold” and an average target price of $20.63.

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.