Insider Selling: Loar Holdings, LLC (NYSE:LOAR) Insider Sells $10,715,396.76 in Stock

Loar Holdings, LLC (NYSE:LOAR) insider Glenn D’alessandro sold 132,436 shares of the 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 $10,715,396.76. Following the completion of the sale, the insider now directly owns 928,074 shares of the company’s stock, valued at $75,090,467.34. This trade represents a 12.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Glenn D’alessandro also recently made the following trade(s):

• On Monday, May 19th, Glenn D’alessandro sold 19,939 shares of Loar stock. The shares were sold at an average price of $80.91, for a total transaction of $1,613,264.49.

Loar Price Performance

NYSE LOAR opened at $82.72 on Thursday. The company has a quick ratio of 2.28, a current ratio of 3.95 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $7.74 billion and a PE ratio of 217.69. Loar Holdings, LLC has a 12-month low of $50.02 and a 12-month high of $99.67. The company has a 50 day moving average price of $82.47 and a two-hundred day moving average price of $79.51.

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

Institutional Trading of Loar

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Loar by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 2,735,157 shares of the company’s stock worth $193,239,000 after acquiring an additional 13,832 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in Loar by 232.6% in 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 last quarter. Invesco Ltd. lifted its holdings in Loar by 38.5% in the 1st quarter. Invesco Ltd. now owns 1,179,384 shares of the company’s stock worth $83,323,000 after purchasing an additional 327,888 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Loar by 4.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,142,073 shares of the company’s stock worth $84,411,000 after purchasing an additional 50,287 shares during the period. Finally, Federated Hermes Inc. grew its holdings in Loar by 13.8% during the first quarter. Federated Hermes Inc. now owns 1,136,653 shares of the company’s stock valued at $80,305,000 after purchasing an additional 137,920 shares during the last quarter.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on LOAR shares. Morgan Stanley raised shares of Loar from an “equal weight” rating to an “overweight” rating and set a $91.00 target price for the company in a research note on Thursday, April 3rd. Royal Bank of Canada reiterated an “outperform” rating and set a $92.00 price objective on shares of Loar in a report on Tuesday, April 1st. Finally, Citigroup lifted their price objective on Loar from $91.00 to $99.00 and gave the company 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.