Loar Holdings, LLC (NYSE:LOAR) Insider Dirkson R. Charles Sells 88,767 Shares

Loar Holdings, LLC (NYSE:LOAR) insider Dirkson R. Charles sold 88,767 shares of the stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $80.91, for a total value of $7,182,137.97. Following the transaction, the insider now owns 4,043,005 shares of the company’s stock, valued at approximately $327,119,534.55. The trade was a 2.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Loar Stock Performance

NYSE LOAR traded down $0.41 during trading on Monday, reaching $85.18. 1,789,485 shares of the company’s stock were exchanged, compared to its average volume of 486,683. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.95 and a quick ratio of 2.28. The business has a 50 day moving average price of $81.74 and a 200-day moving average price of $79.46. The stock has a market capitalization 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.

Loar (NYSE:LOAR) last issued its quarterly earnings data on Monday, March 31st. The company reported $0.11 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.11. The company had revenue of $110.40 million for the quarter, compared to analyst estimates of $102.51 million. The business’s revenue was up 27.8% compared to the same quarter last year. Sell-side analysts forecast that Loar Holdings, LLC will post 0.28 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Loar

Several institutional investors have recently made changes to their positions in the stock. Fortress Investment Group LLC bought a new stake in Loar during the fourth quarter worth $739,000. M&T Bank Corp acquired a new stake in Loar in the fourth quarter valued at $306,000. Treasurer of the State of North Carolina increased its holdings in Loar by 187.2% in the fourth quarter. Treasurer of the State of North Carolina now owns 13,240 shares of the company’s stock valued at $979,000 after purchasing an additional 8,630 shares during the period. Soros Fund Management LLC increased its holdings in Loar by 12.5% in the fourth quarter. Soros Fund Management LLC now owns 225,000 shares of the company’s stock valued at $16,630,000 after purchasing an additional 25,000 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in Loar during the 4th quarter worth about $1,585,000.

Analysts Set New Price Targets

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

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.