Bank of New York Mellon Corp Reduces Stock Holdings in Triumph Group, Inc. (NYSE:TGI)

Bank of New York Mellon Corp decreased its holdings in Triumph Group, Inc. (NYSE:TGI) by 3.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 461,490 shares of the aerospace company’s stock after selling 15,737 shares during the quarter. Bank of New York Mellon Corp owned about 0.60% of Triumph Group worth $11,694,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Irenic Capital Management LP lifted its stake in Triumph Group by 19.9% in the fourth quarter. Irenic Capital Management LP now owns 3,787,022 shares of the aerospace company’s stock worth $70,666,000 after acquiring an additional 628,296 shares during the period. First Trust Advisors LP lifted its stake in Triumph Group by 59.6% in the fourth quarter. First Trust Advisors LP now owns 1,702,245 shares of the aerospace company’s stock worth $31,764,000 after acquiring an additional 635,568 shares during the period. American Century Companies Inc. purchased a new stake in Triumph Group in the fourth quarter worth $30,845,000. Norges Bank purchased a new stake in Triumph Group in the fourth quarter worth $15,945,000. Finally, Invesco Ltd. lifted its stake in Triumph Group by 4.6% in the fourth quarter. Invesco Ltd. now owns 838,571 shares of the aerospace company’s stock worth $15,648,000 after acquiring an additional 37,253 shares during the period. Hedge funds and other institutional investors own 94.53% of the company’s stock.

Triumph Group Price Performance

Shares of NYSE:TGI opened at $25.88 on Monday. Triumph Group, Inc. has a 1-year low of $11.01 and a 1-year high of $25.96. The business has a fifty day moving average price of $25.78 and a 200-day moving average price of $24.48. The company has a market capitalization of $2.01 billion, a PE ratio of 49.77 and a beta of 2.26.

Triumph Group (NYSE:TGI) last issued its quarterly earnings results on Wednesday, May 28th. The aerospace company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.17. Triumph Group had a negative return on equity of 74.53% and a net margin of 3.24%. The firm had revenue of $377.90 million during the quarter, compared to the consensus estimate of $334.04 million. During the same period last year, the company earned $0.31 earnings per share. The company’s revenue was up 5.4% on a year-over-year basis. On average, sell-side analysts anticipate that Triumph Group, Inc. will post 0.68 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on TGI shares. Wall Street Zen started coverage on Triumph Group in a report on Tuesday, May 20th. They issued a “hold” rating for the company. JPMorgan Chase & Co. upgraded Triumph Group from an “underweight” rating to a “neutral” rating and increased their price objective for the stock from $17.00 to $26.00 in a report on Tuesday, April 15th. One analyst has rated the stock with a sell rating and ten have issued a hold rating to the stock. According to data from MarketBeat.com, Triumph Group currently has an average rating of “Hold” and an average price target 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.