Loar Holdings, LLC (NYSE:LOAR) Stock Position Raised by Seven Grand Managers LLC

Seven Grand Managers LLC grew its position in shares of Loar Holdings, LLC (NYSE:LOAR) by 10.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 110,000 shares of the company’s stock after buying an additional 10,000 shares during the quarter. Loar makes up about 3.7% of Seven Grand Managers LLC’s investment portfolio, making the stock its 11th largest holding. Seven Grand Managers LLC owned approximately 0.12% of Loar worth $8,130,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in LOAR. Vanguard Group Inc. boosted its stake in shares of Loar by 132.4% during the 4th quarter. Vanguard Group Inc. now owns 2,721,325 shares of the company’s stock worth $201,133,000 after acquiring an additional 1,550,581 shares in the last quarter. TimesSquare Capital Management LLC lifted its holdings in Loar by 159.8% in the 4th quarter. TimesSquare Capital Management LLC now owns 1,066,525 shares of the company’s stock worth $78,827,000 after purchasing an additional 656,016 shares during the last quarter. Wasatch Advisors LP bought a new stake in Loar during the fourth quarter worth approximately $40,347,000. Norges Bank acquired a new position in Loar during the fourth quarter valued at approximately $30,326,000. Finally, Fred Alger Management LLC raised its position in shares of Loar by 164.0% in the fourth quarter. Fred Alger Management LLC now owns 555,366 shares of the company’s stock valued at $41,047,000 after purchasing an additional 345,036 shares during the period.

Loar Price Performance

NYSE:LOAR opened at $83.88 on Friday. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.95 and a quick ratio of 2.28. Loar Holdings, LLC has a one year low of $48.50 and a one year high of $99.67. The company has a fifty day moving average price of $80.88 and a 200 day moving average price of $79.61. The stock has a market cap of $7.85 billion and a P/E ratio of 349.50.

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 company had revenue of $110.40 million for the quarter, compared to analyst estimates of $102.51 million. The firm’s quarterly revenue was up 27.8% compared to the same quarter last year. Analysts anticipate that Loar Holdings, LLC will post 0.28 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on LOAR shares. Citigroup upped their price objective on shares of Loar from $91.00 to $99.00 and gave the stock a “buy” rating in a report on Thursday. Morgan Stanley upgraded Loar from an “equal weight” rating to an “overweight” rating and set a $91.00 price objective on the stock in a research note on Thursday, April 3rd. Finally, Royal Bank of Canada restated an “outperform” rating and set a $92.00 target price on shares of Loar in a research note 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.