BlackRock Inc. increased its stake in shares of Triumph Group, Inc. (NYSE:TGI) by 13,862.7% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 7,517,512 shares of the aerospace company’s stock after buying an additional 7,463,672 shares during the period. BlackRock Inc. owned 15.16% of Triumph Group worth $193,578,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Bank of Montreal Can boosted its position in Triumph Group by 8.0% in the first quarter. Bank of Montreal Can now owns 5,252 shares of the aerospace company’s stock valued at $135,000 after buying an additional 391 shares during the period. State of Alaska Department of Revenue bought a new position in Triumph Group during the first quarter valued at about $140,000. Thrivent Financial for Lutherans boosted its position in Triumph Group by 9.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 8,510 shares of the aerospace company’s stock valued at $226,000 after buying an additional 750 shares during the period. Wayne Hummer Investments L.L.C. bought a new position in Triumph Group during the first quarter valued at about $219,000. Finally, Quantbot Technologies LP bought a new position in Triumph Group during the first quarter valued at about $230,000.
Shares of Triumph Group, Inc. (NYSE:TGI) opened at 34.10 on Thursday. The stock’s market cap is $1.69 billion. Triumph Group, Inc. has a 12 month low of $19.65 and a 12 month high of $39.92. The company has a 50 day moving average of $32.16 and a 200 day moving average of $27.51.
Triumph Group (NYSE:TGI) last issued its quarterly earnings data on Wednesday, May 24th. The aerospace company reported $3.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.40 by $1.69. The firm had revenue of $919.90 million during the quarter, compared to analysts’ expectations of $923.93 million. Triumph Group had a negative net margin of 1.22% and a positive return on equity of 32.58%. The business’s revenue for the quarter was down 13.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.32 earnings per share. Equities research analysts expect that Triumph Group, Inc. will post $3.74 earnings per share for the current fiscal year.
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Several research analysts have recently issued reports on the stock. Jefferies Group LLC set a $29.00 price objective on shares of Triumph Group and gave the company a “buy” rating in a report on Saturday, May 6th. Canaccord Genuity reiterated a “hold” rating and issued a $34.00 price objective on shares of Triumph Group in a report on Thursday. BidaskClub upgraded shares of Triumph Group from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 5th. ValuEngine cut shares of Triumph Group from a “buy” rating to a “hold” rating in a report on Friday, May 26th. Finally, Standpoint Research cut shares of Triumph Group from a “buy” rating to a “reduce” rating in a report on Thursday, May 25th. They noted that the move was a valuation call. Five analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $32.50.
About Triumph Group
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