Morgan Stanley lowered its position in shares of Triumph Group, Inc. (NYSE:TGI) by 14.8% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 304,140 shares of the aerospace company’s stock after selling 52,722 shares during the period. Morgan Stanley owned 0.61% of Triumph Group worth $7,832,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Triumph Group by 20.1% in the first quarter. Vanguard Group Inc. now owns 5,258,989 shares of the aerospace company’s stock worth $135,419,000 after buying an additional 880,074 shares in the last quarter. Norges Bank bought a new stake in shares of Triumph Group during the fourth quarter worth $13,720,000. Formula Growth Ltd. bought a new stake in shares of Triumph Group during the first quarter worth $12,180,000. Stifel Financial Corp boosted its stake in shares of Triumph Group by 60.9% in the first quarter. Stifel Financial Corp now owns 698,078 shares of the aerospace company’s stock worth $18,010,000 after buying an additional 264,099 shares in the last quarter. Finally, Investment Counselors of Maryland LLC boosted its stake in shares of Triumph Group by 60.3% in the first quarter. Investment Counselors of Maryland LLC now owns 652,022 shares of the aerospace company’s stock worth $16,790,000 after buying an additional 245,200 shares in the last quarter. 99.84% of the stock is owned by institutional investors.
Triumph Group, Inc. (TGI) opened at 25.30 on Friday. Triumph Group, Inc. has a 12-month low of $19.65 and a 12-month high of $34.80. The firm’s 50-day moving average price is $29.84 and its 200-day moving average price is $27.82. The company’s market cap is $1.26 billion.
Triumph Group (NYSE:TGI) last announced its earnings results on Wednesday, July 26th. The aerospace company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by $0.63. The business had revenue of $781.70 million for the quarter, compared to the consensus estimate of $804.26 million. Triumph Group had a negative net margin of 1.89% and a positive return on equity of 28.96%. The business’s quarterly revenue was down 12.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.04 earnings per share. Equities research analysts forecast that Triumph Group, Inc. will post $1.83 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be given a dividend of $0.04 per share. The ex-dividend date is Wednesday, August 30th. This represents a $0.16 annualized dividend and a yield of 0.63%. Triumph Group’s dividend payout ratio (DPR) is -12.12%.
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Several equities analysts recently weighed in on the company. Jefferies Group LLC lowered Triumph Group from a “buy” rating to a “hold” rating and set a $37.00 price objective on the stock. in a research note on Monday, July 24th. Canaccord Genuity restated a “hold” rating and set a $34.00 price target on shares of Triumph Group in a research report on Thursday, July 20th. ValuEngine lowered Triumph Group from a “buy” rating to a “hold” rating in a research report on Friday, May 26th. Standpoint Research lowered Triumph Group from a “buy” rating to a “reduce” rating in a research report on Thursday, May 25th. They noted that the move was a valuation call. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $37.00 price target (up from $35.00) on shares of Triumph Group in a research report on Thursday, May 25th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $29.64.
About Triumph Group
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