KLP Kapitalforvaltning AS Acquires New Stake in Triumph Group, Inc. (NYSE:TGI)

KLP Kapitalforvaltning AS bought a new stake in shares of Triumph Group, Inc. (NYSE:TGI) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 16,600 shares of the aerospace company’s stock, valued at approximately $310,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Assenagon Asset Management S.A. increased its holdings in Triumph Group by 124.7% during the 4th 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 period. Barclays PLC increased its stake in shares of Triumph Group by 155.8% during the third 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 period. JPMorgan Chase & Co. increased its stake in shares of Triumph Group by 1,207.4% during the third quarter. JPMorgan Chase & Co. now owns 538,904 shares of the aerospace company’s stock worth $6,946,000 after buying an additional 497,684 shares during the period. American Century Companies Inc. acquired a new stake in Triumph Group in the fourth quarter valued at approximately $30,845,000. Finally, Principal Financial Group Inc. lifted its stake in Triumph Group by 2.9% in the fourth quarter. Principal Financial Group Inc. now owns 374,896 shares of the aerospace company’s stock worth $6,996,000 after acquiring an additional 10,629 shares during the last quarter. 94.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CAO Jennifer H. Allen sold 35,000 shares of the firm’s stock in a transaction on Thursday, March 13th. The stock was 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 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 the SEC website. 2.31% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

TGI has been the subject of a number of research analyst reports. Wolfe Research downgraded Triumph Group from an “outperform” rating to a “peer perform” rating in a report on Monday, February 10th. Baird R W cut shares of Triumph Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 4th. StockNews.com started coverage on shares of Triumph Group in a research note on Wednesday. They set a “hold” rating on the stock. Truist Financial upped their price objective on shares of Triumph Group from $19.00 to $26.00 and gave the company a “hold” rating in a research note on Tuesday, February 4th. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $26.00 price objective (up previously from $20.00) on shares of Triumph Group in a report on Tuesday, February 4th. Two investment analysts have rated the stock with a sell rating and nine have issued a hold rating to the company. According to MarketBeat, Triumph Group currently has a consensus rating of “Hold” and a consensus price target of $18.88.

Triumph Group Price Performance

TGI opened at $25.07 on Friday. Triumph Group, Inc. has a 12 month low of $11.01 and a 12 month high of $25.55. The stock has a market capitalization of $1.94 billion, a P/E ratio of 3.48 and a beta of 2.53. The business has a 50 day simple moving average of $24.68 and a 200-day simple moving average of $19.51.

Triumph Group (NYSE:TGI) last released its earnings results on Monday, February 10th. The aerospace company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.03. Triumph Group had a negative return on equity of 55.18% and a net margin of 45.08%. Research analysts anticipate that Triumph Group, Inc. will post 0.68 EPS for the current year.

Triumph Group Company Profile

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.