LMR Partners LLP Takes Position in Loar Holdings, LLC (NYSE:LOAR)

LMR Partners LLP purchased a new stake in Loar Holdings, LLC (NYSE:LOAR - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 70,000 shares of the company's stock, valued at approximately $5,174,000. LMR Partners LLP owned 0.08% of Loar as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of LOAR. Sterling Capital Management LLC boosted its position in shares of Loar by 141.5% during 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 last quarter. Corebridge Financial Inc. grew its stake in Loar by 174.3% in the 4th quarter. Corebridge Financial Inc. now owns 524 shares of the company's stock worth $39,000 after buying an additional 333 shares in the last quarter. Arcadia Investment Management Corp MI bought a new position in shares of Loar in the 4th quarter worth $61,000. Gen Wealth Partners Inc bought a new position in Loar in the fourth quarter valued at $62,000. Finally, R Squared Ltd bought a new stake in Loar in the 4th quarter worth approximately $95,000.

Loar Stock Performance

NYSE LOAR traded up $1.92 during trading hours on Friday, hitting $85.59. 3,595,602 shares of the company's stock traded hands, compared to its average volume of 478,538. The business's fifty day moving average price is $80.88 and its two-hundred day moving average price is $79.61. The firm has a market capitalization of $8.01 billion and a P/E ratio of 356.63. Loar Holdings, LLC has a 52 week low of $48.50 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.

Loar (NYSE:LOAR - Get Free Report) last released its earnings results on Monday, March 31st. The company reported $0.11 EPS for the quarter, hitting analysts' consensus estimates of $0.11. The firm had revenue of $110.40 million for the quarter, compared to the consensus estimate of $102.51 million. The business's revenue for the quarter was up 27.8% on a year-over-year basis. Equities research analysts predict that Loar Holdings, LLC will post 0.28 EPS for the current year.

Analyst Ratings Changes

LOAR has been the subject of several analyst reports. Morgan Stanley upgraded 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. Royal Bank of Canada restated an "outperform" rating and issued a $92.00 price target on shares of Loar in a research note on Tuesday, April 1st. Finally, Citigroup upped their price target on Loar from $91.00 to $99.00 and gave the company a "buy" rating in a report on Thursday.

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.