Deutsche Bank AG Buys New Stake in Loar Holdings, LLC (NYSE:LOAR)

Deutsche Bank AG purchased a new position in shares of Loar Holdings, LLC (NYSE:LOAR - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 181,881 shares of the company's stock, valued at approximately $13,443,000. Deutsche Bank AG owned 0.20% of Loar as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analysts Set New Price Targets

LOAR has been the topic of a number of analyst reports. Morgan Stanley raised Loar from an "equal weight" rating to an "overweight" rating and set a $91.00 price objective on the stock in a report on Thursday, April 3rd. Citigroup increased their price target on Loar from $91.00 to $99.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $92.00 price objective on shares of Loar in a research note on Tuesday, April 1st.

Insider Activity at Loar

In other news, insider Michael J. Manella sold 19,684 shares of Loar stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $80.91, for a total transaction of $1,592,632.44. Following the sale, the insider now owns 429,960 shares of the company's stock, valued at approximately $34,788,063.60. This trade represents a 4.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul S. Levy sold 175,923 shares of the business's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $80.91, for a total value of $14,233,929.93. Following the sale, the director now owns 8,012,580 shares in the company, valued at approximately $648,297,847.80. This represents a 2.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,742,872 shares of company stock worth $464,655,774 in the last ninety days.

Loar Stock Performance

Shares of NYSE LOAR traded down $0.10 during trading hours on Wednesday, hitting $82.90. 219,340 shares of the company's stock were exchanged, compared to its average volume of 696,851. The company's 50-day moving average price is $82.13 and its 200-day moving average price is $79.49. Loar Holdings, LLC has a 1-year low of $50.01 and a 1-year high of $99.67. The stock has a market capitalization of $7.76 billion and a price-to-earnings ratio of 218.17. 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 issued its quarterly earnings results on Monday, March 31st. The company reported $0.11 EPS for the quarter, hitting analysts' consensus estimates of $0.11. The business had revenue of $110.40 million for the quarter, compared to analyst estimates of $102.51 million. The company's revenue was up 27.8% compared to the same quarter last year. On average, sell-side analysts expect that Loar Holdings, LLC will post 0.28 earnings per share for the current fiscal year.

Loar 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.