Insider Selling: Loar Holdings, LLC (NYSE:LOAR) Chairman Sells 558,695 Shares of Stock

Loar Holdings, LLC (NYSE:LOAR) Chairman Brett N. Milgrim sold 558,695 shares of the firm’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $80.91, for a total transaction of $45,204,012.45. Following the transaction, the chairman now owns 3,306,632 shares of the company’s stock, valued at approximately $267,539,595.12. The trade was a 14.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Loar Trading Down 0.5%

Shares of LOAR stock traded down $0.41 during trading hours on Monday, hitting $85.18. 1,789,485 shares of the company were exchanged, compared to its average volume of 486,683. The firm has a market cap of $7.97 billion and a P/E ratio of 224.16. Loar Holdings, LLC has a fifty-two week low of $49.62 and a fifty-two week high of $99.67. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.28 and a current ratio of 3.95. The company has a 50 day simple moving average of $81.74 and a two-hundred day simple moving average of $79.46.

Loar (NYSE:LOAR) last posted its quarterly earnings results on Monday, March 31st. The company reported $0.11 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.11. The business had revenue of $110.40 million during the quarter, compared to analyst estimates of $102.51 million. Loar’s quarterly revenue was up 27.8% on a year-over-year basis. Equities analysts anticipate that Loar Holdings, LLC will post 0.28 EPS for the current year.

Institutional Trading of Loar

Several hedge funds have recently bought and sold shares of LOAR. Vanguard Group Inc. grew its position in Loar by 132.4% in the 4th quarter. Vanguard Group Inc. now owns 2,721,325 shares of the company’s stock valued at $201,133,000 after purchasing an additional 1,550,581 shares during the period. T. Rowe Price Investment Management Inc. raised its stake in shares of Loar by 232.6% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,601,485 shares of the company’s stock worth $113,145,000 after purchasing an additional 1,119,958 shares during the period. TimesSquare Capital Management LLC raised its stake in shares of Loar by 159.8% during 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 period. Wasatch Advisors LP bought a new stake in shares of Loar during the 4th quarter worth $40,347,000. Finally, Norges Bank bought a new stake in Loar in the 4th quarter valued at about $30,326,000.

Analysts Set New Price Targets

Several research analysts have issued reports on LOAR shares. Citigroup raised their price target on shares of Loar from $91.00 to $99.00 and gave the stock a “buy” rating in a report on Thursday. 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 research report on Thursday, April 3rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $92.00 price objective on shares of Loar in a research report on Tuesday, April 1st.

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.