LMR Partners LLP Makes New $5.17 Million Investment in Loar Holdings, LLC (NYSE:LOAR)

LMR Partners LLP acquired a new position in Loar Holdings, LLC (NYSE:LOAR - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 70,000 shares of the company's stock, valued at approximately $5,174,000. LMR Partners LLP owned 0.08% of Loar at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Sterling Capital Management LLC boosted its holdings in Loar by 141.5% in the fourth quarter. Sterling Capital Management LLC now owns 500 shares of the company's stock worth $37,000 after purchasing an additional 293 shares during the period. Corebridge Financial Inc. lifted its stake in Loar by 174.3% in 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. Barclays PLC lifted its stake in Loar by 12.1% in the fourth quarter. Barclays PLC now owns 3,298 shares of the company's stock valued at $243,000 after buying an additional 355 shares during the last quarter. Captrust Financial Advisors lifted its stake in Loar by 4.4% in the fourth quarter. Captrust Financial Advisors now owns 10,935 shares of the company's stock valued at $808,000 after buying an additional 464 shares during the last quarter. Finally, Arcadia Investment Management Corp MI bought a new stake in Loar in the fourth quarter valued at $61,000.

Analysts Set New Price Targets

A number of equities research analysts have issued reports 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 note on Thursday, April 3rd. Citigroup raised their target price on Loar from $91.00 to $99.00 and gave the company a "buy" rating in a research note on Thursday. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $92.00 target price on shares of Loar in a research note on Tuesday, April 1st.

Loar Price Performance

LOAR stock traded up $1.92 during trading on Friday, hitting $85.59. The company had a trading volume of 3,595,602 shares, compared to its average volume of 481,450. The firm has a market capitalization of $8.01 billion and a price-to-earnings ratio of 356.63. The business has a 50 day moving average of $81.31 and a 200 day moving average of $79.49. Loar Holdings, LLC has a fifty-two week low of $49.62 and a fifty-two 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.

Loar (NYSE:LOAR - Get Free Report) last posted its quarterly earnings data on Monday, March 31st. The company reported $0.11 earnings per share for the quarter, hitting the consensus estimate of $0.11. The company had revenue of $110.40 million during the quarter, compared to analyst estimates of $102.51 million. The firm's quarterly revenue was up 27.8% compared to the same quarter last year. As a group, research analysts predict that Loar Holdings, LLC will post 0.28 earnings per share 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.