Public Employees Retirement System of Ohio reduced its stake in Triumph Group Inc (NYSE:TGI) by 11.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,765 shares of the aerospace company’s stock after selling 779 shares during the period. Public Employees Retirement System of Ohio’s holdings in Triumph Group were worth $132,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Renaissance Technologies LLC increased its holdings in Triumph Group by 118.0% in the 2nd quarter. Renaissance Technologies LLC now owns 1,169,100 shares of the aerospace company’s stock valued at $26,772,000 after purchasing an additional 632,700 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Triumph Group by 4.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 713,318 shares of the aerospace company’s stock valued at $16,335,000 after purchasing an additional 31,937 shares in the last quarter. Bank of Montreal Can increased its holdings in Triumph Group by 134.4% in the 2nd quarter. Bank of Montreal Can now owns 7,968 shares of the aerospace company’s stock valued at $183,000 after purchasing an additional 4,569 shares in the last quarter. Prudential Financial Inc. increased its holdings in Triumph Group by 4.8% in the 2nd quarter. Prudential Financial Inc. now owns 83,820 shares of the aerospace company’s stock valued at $1,919,000 after purchasing an additional 3,860 shares in the last quarter. Finally, Menta Capital LLC acquired a new stake in Triumph Group in the 2nd quarter valued at $398,000.
Shares of Triumph Group stock traded down $0.46 during trading hours on Tuesday, hitting $23.79. 17,056 shares of the company’s stock traded hands, compared to its average volume of 520,158. The stock has a 50 day simple moving average of $22.71 and a 200-day simple moving average of $21.91. The company has a market cap of $1.21 billion, a PE ratio of 9.48, a PEG ratio of 2.00 and a beta of 2.77. Triumph Group Inc has a twelve month low of $11.16 and a twelve month high of $26.00.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a dividend of $0.04 per share. The ex-dividend date was Thursday, August 29th. This represents a $0.16 annualized dividend and a dividend yield of 0.67%. Triumph Group’s dividend payout ratio is presently 6.43%.
TGI has been the subject of several recent research reports. Zacks Investment Research upgraded Triumph Group from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a report on Monday, July 8th. ValuEngine downgraded Triumph Group from a “hold” rating to a “sell” rating in a report on Thursday, August 15th. Finally, Barclays downgraded Triumph Group from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $23.00 to $20.00 in a report on Friday, August 23rd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. Triumph Group has a consensus rating of “Hold” and an average target price of $23.61.
Triumph Group Profile
Triumph Group, Inc designs, engineers, manufactures, repairs, overhauls, and distributes aerostructures, aircraft components, accessories, subassemblies, and systems worldwide. The company operates in three segments: Integrated Systems, Aerospace Structures, and Product Support. It offers aircraft and engine-mounted accessory drives, thermal control systems and components, cargo hooks, high lift actuations, cockpit control levers, hydraulic systems and components, landing gear actuation systems, control system valve bodies, landing gear components and assemblies, electronic engine controls, main engine gear box assemblies, exhaust nozzles and ducting, fuel pumps, geared transmissions and drive train components, secondary flight control systems, fuel metering units, and vibration absorbers.
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