Loar Holdings, LLC (NYSE:LOAR) Director Sells $14,233,929.93 in Stock

Loar Holdings, LLC (NYSE:LOAR) Director Paul S. Levy sold 175,923 shares of Loar stock in a transaction on Monday, May 19th. The stock was sold at an average price of $80.91, for a total value of $14,233,929.93. Following the sale, the director now owns 8,012,580 shares in the company, valued at $648,297,847.80. The trade was a 2.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Loar Stock Down 0.5%

NYSE LOAR traded down $0.41 during trading hours on Monday, reaching $85.18. 1,789,485 shares of the company’s stock traded hands, compared to its average volume of 486,683. Loar Holdings, LLC has a 52-week low of $49.62 and a 52-week high of $99.67. The firm has a market cap of $7.97 billion and a PE ratio of 224.16. The firm has a 50-day simple moving average of $81.74 and a 200 day simple moving average of $79.46. 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 (NYSE:LOAR) last announced its quarterly earnings results on Monday, March 31st. The company reported $0.11 EPS for the quarter, hitting analysts’ consensus estimates of $0.11. The company had revenue of $110.40 million during the quarter, compared to the consensus estimate of $102.51 million. The company’s revenue was up 27.8% compared to the same quarter last year. Sell-side analysts anticipate that Loar Holdings, LLC will post 0.28 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on LOAR shares. Citigroup lifted their price objective on Loar from $91.00 to $99.00 and gave the stock a “buy” rating in a report on Thursday. Royal Bank of Canada reissued an “outperform” rating and issued a $92.00 price objective on shares of Loar in a report on Tuesday, April 1st. Finally, Morgan Stanley raised 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.

Hedge Funds Weigh In On Loar

Large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in shares of Loar by 204.9% in the first quarter. GAMMA Investing LLC now owns 372 shares of the company’s stock worth $26,000 after buying an additional 250 shares in the last quarter. Sterling Capital Management LLC lifted its holdings in shares of Loar by 141.5% in the fourth quarter. Sterling Capital Management LLC now owns 500 shares of the company’s stock worth $37,000 after buying an additional 293 shares in the last quarter. Corebridge Financial Inc. lifted its holdings in shares of Loar by 174.3% in the fourth quarter. Corebridge Financial Inc. now owns 524 shares of the company’s stock worth $39,000 after buying an additional 333 shares in the last quarter. State of Wyoming purchased a new position in shares of Loar in the fourth quarter worth $53,000. Finally, Caitong International Asset Management Co. Ltd increased its position in Loar by 5,286.7% in the first quarter. Caitong International Asset Management Co. Ltd now owns 808 shares of the company’s stock worth $57,000 after purchasing an additional 793 shares during the last quarter.

About Loar

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.