Insider Selling: Loar Holdings, LLC (NYSE:LOAR) Director Sells 703,691 Shares of Stock

Loar Holdings, LLC (NYSE:LOAR) Director David C. Abrams sold 703,691 shares of Loar stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $80.91, for a total transaction of $56,935,638.81. Following the completion of the transaction, the director now owns 32,050,240 shares of the company’s stock, valued at $2,593,184,918.40. The trade was a 2.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Loar Trading Down 2.4%

Shares of Loar stock opened at $82.90 on Wednesday. The company’s 50-day moving average price is $82.13 and its 200-day moving average price is $79.49. The company has a current ratio of 3.95, a quick ratio of 2.28 and a debt-to-equity ratio of 0.78. Loar Holdings, LLC has a 12-month low of $50.02 and a 12-month high of $99.67. The company has a market cap of $7.76 billion and a price-to-earnings ratio of 218.16.

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

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Morgan Stanley raised shares of Loar from an “equal weight” rating to an “overweight” rating and set a $91.00 price objective for the company in a report on Thursday, April 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $92.00 price target on shares of Loar in a report on Tuesday, April 1st. Finally, Citigroup lifted their price target on Loar from $91.00 to $99.00 and gave the company a “buy” rating in a research report on Thursday, May 15th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in LOAR. Barclays PLC boosted its stake in Loar by 871.3% during 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 period. Zweig DiMenna Associates LLC raised its holdings in shares of Loar by 4.4% in the 4th quarter. Zweig DiMenna Associates LLC now owns 172,750 shares of the company’s stock valued at $12,768,000 after acquiring an additional 7,300 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in shares of Loar during the 4th quarter valued at about $5,053,000. R Squared Ltd bought a new stake in shares of Loar during the 4th quarter valued at about $95,000. Finally, Renaissance Capital LLC grew its holdings in shares of Loar by 411.5% during the fourth quarter. Renaissance Capital LLC now owns 58,275 shares of the company’s stock worth $4,307,000 after purchasing an additional 46,883 shares in 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.