Balyasny Asset Management L.P. Purchases New Holdings in Loar Holdings, LLC (NYSE:LOAR)

Balyasny Asset Management L.P. purchased a new stake in shares of Loar Holdings, LLC (NYSE:LOAR - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 261,730 shares of the company's stock, valued at approximately $19,344,000. Balyasny Asset Management L.P. owned approximately 0.29% of Loar as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in LOAR. Barclays PLC lifted its position in Loar by 871.3% in the 3rd quarter. Barclays PLC now owns 2,943 shares of the company's stock worth $219,000 after buying an additional 2,640 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Loar by 36.0% in the 3rd quarter. Franklin Resources Inc. now owns 188,766 shares of the company's stock valued at $14,556,000 after purchasing an additional 49,966 shares in the last quarter. Zweig DiMenna Associates LLC grew its holdings in shares of Loar by 4.4% during the 4th quarter. Zweig DiMenna Associates LLC now owns 172,750 shares of the company's stock valued at $12,768,000 after purchasing an additional 7,300 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in Loar in the 4th quarter worth $5,053,000. Finally, R Squared Ltd bought a new stake in Loar in the fourth quarter worth $95,000.

Analysts Set New Price Targets

Several research firms have recently commented on LOAR. Royal Bank of Canada reiterated an "outperform" rating and issued a $92.00 price objective on shares of Loar in a report on Tuesday, April 1st. Morgan Stanley raised Loar from an "equal weight" rating to an "overweight" rating and set a $91.00 price target on the stock in a research note on Thursday, April 3rd.

Loar Trading Down 0.9 %

Shares of LOAR stock traded down $0.83 during trading hours on Friday, reaching $95.95. The company's stock had a trading volume of 1,041,321 shares, compared to its average volume of 420,789. 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 one year low of $45.49 and a one year high of $99.16. The stock has a market capitalization of $8.98 billion and a P/E ratio of 399.79. The firm's fifty day simple moving average is $79.13 and its 200 day simple moving average is $79.41.

Loar (NYSE:LOAR - Get Free Report) last issued its quarterly earnings data on Monday, March 31st. The company reported $0.11 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.11. The company had revenue of $110.40 million for the quarter, compared to analysts' expectations of $102.51 million. Loar's quarterly revenue was up 27.8% on a year-over-year basis. Equities research analysts expect that Loar Holdings, LLC will post 0.28 EPS for the current year.

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.