Insider Selling: Loar Holdings, LLC (NYSE:LOAR) Director Sells 175,923 Shares of Stock

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

Loar Trading Down 0.5%

LOAR traded down $0.41 on Monday, hitting $85.18. The company had a trading volume of 1,789,485 shares, 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 1 year low of $49.62 and a 1 year high of $99.67. The company’s fifty day moving average price is $81.74 and its 200 day moving average price is $79.46. 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 (NYSE:LOAR) last issued its quarterly earnings results on Monday, March 31st. The company reported $0.11 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.11. The business had revenue of $110.40 million for the quarter, compared to analysts’ expectations of $102.51 million. The company’s revenue was up 27.8% compared to the same quarter last year. As a group, equities analysts expect that Loar Holdings, LLC will post 0.28 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Morgan Stanley upgraded shares of Loar from an “equal weight” rating to an “overweight” rating and set a $91.00 target price on the stock in a report on Thursday, April 3rd. Citigroup increased their target price on shares of Loar from $91.00 to $99.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $92.00 price target on shares of Loar in a research report on Tuesday, April 1st.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in shares of Loar by 0.3% in the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 40,436 shares of the company’s stock valued at $2,857,000 after purchasing an additional 139 shares in the last quarter. Huntleigh Advisors Inc. raised its holdings in shares of Loar by 1.6% during the 1st quarter. Huntleigh Advisors Inc. now owns 11,477 shares of the company’s stock valued at $811,000 after buying an additional 182 shares during the period. GAMMA Investing LLC raised its holdings in shares of Loar by 204.9% during the 1st quarter. GAMMA Investing LLC now owns 372 shares of the company’s stock valued at $26,000 after buying an additional 250 shares during the period. Amalgamated Bank raised its holdings in shares of Loar by 13.1% during the 1st quarter. Amalgamated Bank now owns 2,261 shares of the company’s stock valued at $160,000 after buying an additional 261 shares during the period. Finally, MetLife Investment Management LLC raised its holdings in shares of Loar by 16.1% during the 1st quarter. MetLife Investment Management LLC now owns 2,014 shares of the company’s stock valued at $142,000 after buying an additional 279 shares during the period.

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.