Ethic Inc. Buys New Holdings in Loar Holdings, LLC (NYSE:LOAR)

Ethic Inc. acquired a new stake in Loar Holdings, LLC (NYSE:LOAR - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 5,731 shares of the company's stock, valued at approximately $424,000.

Several other large investors also recently modified their holdings of LOAR. M&T Bank Corp bought a new position in shares of Loar in the fourth quarter valued at approximately $306,000. Treasurer of the State of North Carolina lifted its holdings in Loar by 187.2% in the fourth quarter. Treasurer of the State of North Carolina now owns 13,240 shares of the company's stock valued at $979,000 after buying an additional 8,630 shares during the period. Soros Fund Management LLC boosted its stake in Loar by 12.5% in the fourth 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 last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in Loar during the 4th quarter worth $1,585,000. Finally, New York State Common Retirement Fund raised its position in shares of Loar by 14.1% during the 4th quarter. New York State Common Retirement Fund now owns 101,802 shares of the company's stock valued at $7,524,000 after acquiring an additional 12,592 shares during the last quarter.

Loar Stock Down 0.5%

Shares of Loar stock traded down $0.41 during trading on Monday, reaching $85.18. The stock had a trading volume of 1,789,485 shares, compared to its average volume of 486,683. The company has a current ratio of 3.95, a quick ratio of 2.28 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $7.97 billion and a price-to-earnings ratio of 224.16. The stock has a fifty day moving average price of $81.74 and a two-hundred day moving average price of $79.46. Loar Holdings, LLC has a 52 week low of $49.62 and a 52 week high of $99.67.

Loar (NYSE:LOAR - Get Free Report) last released its earnings results on Monday, March 31st. The company reported $0.11 EPS for the quarter, meeting the consensus estimate of $0.11. The firm had revenue of $110.40 million during 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. Sell-side analysts predict that Loar Holdings, LLC will post 0.28 EPS for the current fiscal year.

Insider Transactions at Loar

In other news, Chairman Brett N. Milgrim sold 84,115 shares of the company's 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 $6,805,744.65. Following the sale, the chairman now owns 3,222,517 shares in the company, valued at $260,733,850.47. This represents a 2.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Michael J. Manella sold 19,684 shares of the 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 $1,592,632.44. Following the completion of the sale, the insider now directly owns 429,960 shares of the company's stock, valued at approximately $34,788,063.60. The trade was a 4.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,968,407 shares of company stock valued at $240,173,810 over the last 90 days.

Analyst Ratings Changes

LOAR has been the topic of a number of recent analyst reports. 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 report on Thursday, April 3rd. Citigroup boosted their price objective on Loar from $91.00 to $99.00 and gave the company a "buy" rating in a research report on Thursday. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $92.00 price target on shares of Loar in a research note on Tuesday, April 1st.

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.