Point72 Asset Management L.P. Trims Holdings in Triumph Group, Inc. (NYSE:TGI)

Point72 Asset Management L.P. lowered its stake in shares of Triumph Group, Inc. (NYSE:TGI) by 22.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 866,936 shares of the aerospace company’s stock after selling 245,176 shares during the period. Point72 Asset Management L.P.’s holdings in Triumph Group were worth $16,177,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Barclays PLC grew its holdings in shares of Triumph Group by 155.8% in the third quarter. Barclays PLC now owns 148,530 shares of the aerospace company’s stock valued at $1,915,000 after purchasing an additional 90,456 shares during the period. Nisa Investment Advisors LLC boosted its holdings in Triumph Group by 18,544.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 256,554 shares of the aerospace company’s stock valued at $4,787,000 after purchasing an additional 255,178 shares during the last quarter. Cornerstone Wealth Management LLC grew its stake in shares of Triumph Group by 3.8% in the 4th quarter. Cornerstone Wealth Management LLC now owns 15,964 shares of the aerospace company’s stock valued at $298,000 after buying an additional 580 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Triumph Group by 2.9% during the 4th quarter. Principal Financial Group Inc. now owns 374,896 shares of the aerospace company’s stock worth $6,996,000 after buying an additional 10,629 shares during the last quarter. Finally, Illinois Municipal Retirement Fund purchased a new stake in shares of Triumph Group during the 4th quarter valued at approximately $788,000. 94.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Triumph Group

In other news, CAO Jennifer H. Allen sold 35,000 shares of the company’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $25.32, for a total transaction of $886,200.00. Following the sale, the chief accounting officer now owns 51,696 shares of the company’s stock, valued at approximately $1,308,942.72. This represents a 40.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.31% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Baird R W cut Triumph Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 4th. Truist Financial increased their target price on shares of Triumph Group from $19.00 to $26.00 and gave the stock a “hold” rating in a research note on Tuesday, February 4th. Barclays cut shares of Triumph Group from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $21.00 to $26.00 in a research report on Thursday, February 6th. Robert W. Baird restated a “neutral” rating and issued a $26.00 price objective (up from $20.00) on shares of Triumph Group in a report on Tuesday, February 4th. Finally, StockNews.com initiated coverage on shares of Triumph Group in a report on Monday, May 12th. They issued a “hold” rating for the company. One investment analyst has rated the stock with a sell rating and ten have issued a hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $20.63.

Triumph Group Stock Performance

Shares of TGI stock opened at $25.68 on Friday. Triumph Group, Inc. has a fifty-two week low of $11.01 and a fifty-two week high of $25.75. The company has a 50 day moving average price of $25.26 and a 200 day moving average price of $22.01. The stock has a market capitalization of $1.99 billion, a P/E ratio of 3.57 and a beta of 2.34.

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.