HBK Investments L P Makes New $370,000 Investment in Loar Holdings, LLC (NYSE:LOAR)

HBK Investments L P purchased a new stake in Loar Holdings, LLC (NYSE:LOAR) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 5,000 shares of the company’s stock, valued at approximately $370,000.

Other hedge funds have also modified their holdings of the company. Barclays PLC lifted its position in Loar by 871.3% in the third quarter. Barclays PLC now owns 2,943 shares of the company’s stock valued at $219,000 after buying an additional 2,640 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Loar by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 175,575 shares of the company’s stock worth $13,100,000 after acquiring an additional 2,551 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of Loar by 36.0% during the 3rd quarter. Franklin Resources Inc. now owns 188,766 shares of the company’s stock worth $14,556,000 after purchasing an additional 49,966 shares during the period. Lord Abbett & CO. LLC increased its holdings in Loar by 71.7% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,009,558 shares of the company’s stock valued at $75,303,000 after purchasing an additional 421,637 shares during the last quarter. Finally, Zweig DiMenna Associates LLC grew its stake in shares of Loar by 4.4% in the fourth quarter. Zweig DiMenna Associates LLC now owns 172,750 shares of the company’s stock valued at $12,768,000 after buying an additional 7,300 shares in the last quarter.

Loar Stock Performance

Shares of LOAR opened at $92.04 on Friday. The stock has a 50-day simple moving average of $73.26 and a 200-day simple moving average of $77.97. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.28 and a current ratio of 3.95. Loar Holdings, LLC has a 1 year low of $42.57 and a 1 year high of $96.99. The stock has a market capitalization of $8.61 billion and a PE ratio of 383.50.

Loar (NYSE:LOAR) last announced its quarterly earnings data on Monday, March 31st. The company reported $0.11 EPS for the quarter, meeting analysts’ consensus estimates of $0.11. The firm had revenue of $110.40 million during the quarter, compared to analysts’ expectations of $102.51 million. Loar’s revenue was up 27.8% on a year-over-year basis. On average, analysts predict that Loar Holdings, LLC will post 0.28 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

LOAR has been the subject of a number of research analyst reports. Morgan Stanley upgraded Loar from an “equal weight” rating to an “overweight” rating and set a $91.00 target price for the company in a report on Thursday, April 3rd. Royal Bank of Canada restated an “outperform” rating and issued a $92.00 price objective on shares of Loar in a report on Tuesday, April 1st.

Loar Profile

Loar Holdings Inc, through its subsidiaries, designs, manufactures, and markets aerospace and defense components for aircraft, and aerospace and defense systems in the United States and internationally. It offers products in various categories, which include airframe components, structural components, avionics, composites, braking system components, de-ice and ice protection, electro-mechanical, engineered materials, flight controls, fluid and motion controls, environmental, metal forming, molded components, and restraints and safety devices.