BNP Paribas Financial Markets Purchases 228,187 Shares of Loar Holdings, LLC (NYSE:LOAR)

BNP Paribas Financial Markets increased its position in Loar Holdings, LLC (NYSE:LOAR - Free Report) by 2,146.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 238,820 shares of the company's stock after purchasing an additional 228,187 shares during the period. BNP Paribas Financial Markets owned about 0.27% of Loar worth $17,651,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sterling Capital Management LLC lifted its position in Loar by 141.5% during the 4th quarter. Sterling Capital Management LLC now owns 500 shares of the company's stock worth $37,000 after acquiring an additional 293 shares during the last quarter. Corebridge Financial Inc. lifted its position in Loar by 174.3% during the 4th quarter. Corebridge Financial Inc. now owns 524 shares of the company's stock worth $39,000 after acquiring an additional 333 shares during the last quarter. Arcadia Investment Management Corp MI bought a new position in shares of Loar during the 4th quarter worth about $61,000. R Squared Ltd acquired a new position in shares of Loar during the fourth quarter valued at about $95,000. Finally, MetLife Investment Management LLC raised its position in shares of Loar by 179.4% during the fourth quarter. MetLife Investment Management LLC now owns 1,735 shares of the company's stock valued at $128,000 after buying an additional 1,114 shares during the last quarter.

Loar Price Performance

Shares of LOAR stock traded up $0.68 during trading hours on Thursday, reaching $84.09. 3,863,868 shares of the company were exchanged, compared to its average volume of 455,591. Loar Holdings, LLC has a fifty-two week low of $47.65 and a fifty-two week high of $99.67. The stock's fifty day moving average is $80.50 and its two-hundred day moving average is $79.64. The company has a market cap of $7.87 billion and a price-to-earnings ratio of 350.32. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.95 and a quick ratio of 2.28.

Loar (NYSE:LOAR - Get Free Report) last announced its earnings results on Monday, March 31st. The company reported $0.11 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.11. The company had revenue of $110.40 million for the quarter, compared to analyst estimates of $102.51 million. The company's revenue for the quarter 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.

Analyst Ratings Changes

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

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.