Loar Holdings, LLC (NYSE:LOAR) Director Sells $55,848,774.78 in Stock

Loar Holdings, LLC (NYSE:LOAR) Director Anthony Carpenito sold 690,258 shares of Loar stock in a transaction on Friday, May 16th. The stock was sold at an average price of $80.91, for a total transaction of $55,848,774.78. Following the completion of the transaction, the director now owns 31,438,420 shares in the company, valued at approximately $2,543,682,562.20. The trade was a 2.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Loar Stock Performance

Loar stock traded down $2.04 during trading on Tuesday, reaching $82.90. The company had a trading volume of 1,367,562 shares, compared to its average volume of 490,192. The firm’s 50-day simple moving average is $81.74 and its 200 day simple moving average is $79.46. Loar Holdings, LLC has a 52 week low of $49.62 and a 52 week high of $99.67. The company has a current ratio of 3.95, a quick ratio of 2.28 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $7.76 billion and a price-to-earnings ratio of 218.16.

Loar (NYSE:LOAR) last posted its quarterly earnings results on Monday, March 31st. The company reported $0.11 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.11. The firm had revenue of $110.40 million during the quarter, compared to the consensus estimate of $102.51 million. The company’s quarterly 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 Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its stake in shares of Loar by 204.9% during the 1st quarter. GAMMA Investing LLC now owns 372 shares of the company’s stock worth $26,000 after acquiring an additional 250 shares during the last quarter. Sterling Capital Management LLC increased its holdings in shares of Loar by 141.5% in the 4th quarter. Sterling Capital Management LLC now owns 500 shares of the company’s stock valued at $37,000 after acquiring an additional 293 shares during the period. Corebridge Financial Inc. lifted its position in shares of Loar by 174.3% during the fourth quarter. Corebridge Financial Inc. now owns 524 shares of the company’s stock valued at $39,000 after buying an additional 333 shares during the last quarter. State of Wyoming acquired a new stake in Loar in the fourth quarter valued at approximately $53,000. Finally, Caitong International Asset Management Co. Ltd boosted its stake in Loar by 5,286.7% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 808 shares of the company’s stock worth $57,000 after purchasing an additional 793 shares in the last quarter.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on LOAR shares. Morgan Stanley raised Loar from an “equal weight” rating to an “overweight” rating and set a $91.00 target price on the stock in a research note on Thursday, April 3rd. Citigroup increased their target price on Loar from $91.00 to $99.00 and gave the stock a “buy” rating in a research note on Thursday, May 15th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $92.00 price objective on shares of Loar in a research report 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.