Ethic Inc. Takes Position in Loar Holdings, LLC (NYSE:LOAR)

Ethic Inc. acquired a new position in shares of Loar Holdings, LLC (NYSE:LOAR - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 5,731 shares of the company's stock, valued at approximately $424,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. M&T Bank Corp acquired a new position in Loar in the fourth quarter valued at about $306,000. Treasurer of the State of North Carolina increased its stake in shares of Loar by 187.2% in the 4th quarter. Treasurer of the State of North Carolina now owns 13,240 shares of the company's stock valued at $979,000 after acquiring an additional 8,630 shares during the last quarter. Soros Fund Management LLC raised its position in shares of Loar by 12.5% in the 4th quarter. Soros Fund Management LLC now owns 225,000 shares of the company's stock valued at $16,630,000 after acquiring an additional 25,000 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in Loar during the 4th quarter worth approximately $1,585,000. Finally, New York State Common Retirement Fund grew its holdings in Loar by 14.1% during the fourth quarter. New York State Common Retirement Fund now owns 101,802 shares of the company's stock valued at $7,524,000 after purchasing an additional 12,592 shares during the period.

Wall Street Analyst Weigh In

LOAR has been the topic of several analyst reports. Wall Street Zen upgraded shares of Loar from a "hold" rating to a "buy" rating in a report on Thursday. Royal Bank of Canada reiterated an "outperform" rating and set a $92.00 target price on shares of Loar in a report on Tuesday, April 1st. Citigroup increased their price target on Loar from $91.00 to $99.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Finally, Morgan Stanley upgraded 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. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $86.75.

Loar Stock Down 0.7%

NYSE:LOAR traded down $0.55 during trading hours on Thursday, reaching $82.01. 156,484 shares of the stock were exchanged, compared to its average volume of 494,031. The stock has a market cap of $7.67 billion and a PE ratio of 215.70. Loar Holdings, LLC has a twelve month low of $50.02 and a twelve month high of $99.67. The firm has a 50 day moving average of $82.47 and a 200 day moving average of $79.51. 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 posted its quarterly earnings results 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 for the quarter, compared to analyst estimates of $102.51 million. The firm's revenue for the quarter was up 27.8% on a year-over-year basis. On average, equities analysts expect that Loar Holdings, LLC will post 0.28 earnings per share for the current year.

Insiders Place Their Bets

In other Loar news, Director Raja Bobbili sold 690,258 shares of the company's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $80.91, for a total value of $55,848,774.78. Following the transaction, the director now directly owns 31,438,420 shares in the company, valued at $2,543,682,562.20. The trade was a 2.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Paul S. Levy sold 1,168,499 shares of the firm's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $80.91, for a total transaction of $94,543,254.09. Following the sale, the director now owns 8,188,503 shares of the company's stock, valued at approximately $662,531,777.73. This represents a 12.49% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,742,872 shares of company stock valued at $464,655,774.

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.