Loar Holdings, LLC (NYSE:LOAR) Director Paul S. Levy Sells 1,168,499 Shares of Stock

Loar Holdings, LLC (NYSE:LOAR) Director Paul S. Levy sold 1,168,499 shares of the company’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $80.91, for a total value of $94,543,254.09. Following the completion of the sale, the director now owns 8,188,503 shares in the company, valued at approximately $662,531,777.73. This represents a 12.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Loar Trading Down 0.5%

Loar stock opened at $85.18 on Tuesday. 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 $49.62 and a 12 month high of $99.67. The stock’s 50 day simple moving average is $81.74 and its two-hundred day simple moving average is $79.46. The firm has a market cap of $7.97 billion and a PE ratio of 224.16.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in LOAR. Vanguard Group Inc. lifted its position in shares of Loar by 132.4% during the 4th quarter. Vanguard Group Inc. now owns 2,721,325 shares of the company’s stock valued at $201,133,000 after buying an additional 1,550,581 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its position 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 valued at $113,145,000 after buying an additional 1,119,958 shares in the last quarter. TimesSquare Capital Management LLC lifted its position 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 valued at $78,827,000 after buying an additional 656,016 shares in the last quarter. Wasatch Advisors LP purchased a new position in shares of Loar during the 4th quarter valued at approximately $40,347,000. Finally, Norges Bank purchased a new position in shares of Loar during the 4th quarter valued at approximately $30,326,000.

Analyst Upgrades and Downgrades

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

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.