Seven Grand Managers LLC Acquires 10,000 Shares of Loar Holdings, LLC (NYSE:LOAR)

Seven Grand Managers LLC lifted its holdings in shares of Loar Holdings, LLC (NYSE:LOAR) by 10.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 110,000 shares of the company’s stock after purchasing an additional 10,000 shares during the quarter. Loar accounts for approximately 3.7% of Seven Grand Managers LLC’s portfolio, making the stock its 11th largest position. Seven Grand Managers LLC’s holdings in Loar were worth $8,130,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Sterling Capital Management LLC boosted its stake in shares of Loar by 141.5% in the 4th quarter. Sterling Capital Management LLC now owns 500 shares of the company’s stock valued at $37,000 after purchasing an additional 293 shares in the last quarter. Corebridge Financial Inc. lifted its holdings in Loar by 174.3% during the 4th quarter. Corebridge Financial Inc. now owns 524 shares of the company’s stock valued at $39,000 after purchasing an additional 333 shares during the last quarter. Barclays PLC boosted its position in Loar by 12.1% in the fourth quarter. Barclays PLC now owns 3,298 shares of the company’s stock valued at $243,000 after buying an additional 355 shares in the last quarter. Captrust Financial Advisors grew its stake in Loar by 4.4% during the fourth quarter. Captrust Financial Advisors now owns 10,935 shares of the company’s stock worth $808,000 after buying an additional 464 shares during the last quarter. Finally, Arcadia Investment Management Corp MI acquired a new stake in shares of Loar during the fourth quarter worth approximately $61,000.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Citigroup boosted their target price on Loar from $91.00 to $99.00 and gave the stock a “buy” rating in a report on Thursday. Royal Bank of Canada reiterated an “outperform” rating and issued a $92.00 price objective on shares of Loar in a research report on Tuesday, April 1st. Finally, Morgan Stanley raised 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.

Loar Price Performance

LOAR opened at $83.88 on Friday. The company’s 50 day simple moving average is $80.88 and its 200-day simple moving average is $79.61. The stock has a market capitalization of $7.85 billion and a P/E ratio of 349.50. Loar Holdings, LLC has a one year low of $48.50 and a one year high of $99.67. 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 data on Monday, March 31st. The company reported $0.11 earnings per share for the quarter, hitting the consensus estimate of $0.11. The firm had revenue of $110.40 million for the quarter, compared to the consensus estimate of $102.51 million. Loar’s quarterly revenue was up 27.8% on a year-over-year basis. Sell-side analysts anticipate that Loar Holdings, LLC will post 0.28 earnings per share for the current fiscal year.

Loar Company 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.