NEW YORK (TheStreet) -- Shares of Triumph Group Inc. (TGI) are up 1.24% to $70.00 after it completed the previously announced acquisition of the hydraulic actuation business of GE Aviation, a subsidiary of General Electric (GE).
The business is expected to add approximately $180 million in annual revenue and to be immediately accretive to earnings.
The purchase price was approximately $70 million.
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Separately, TheStreet Ratings team rates TRIUMPH GROUP INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate TRIUMPH GROUP INC (TGI) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its attractive valuation levels, good cash flow from operations and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had sub par growth in net income."