14,380 Shares in Loar Holdings Inc. $LOAR Purchased by Strs Ohio

Key Points

• Strs Ohio acquired 14,380 shares of Loar Holdings Inc. valued at approximately **$1,016,000** in the first quarter, indicating growing institutional interest in the company.
• Loar Holdings reported a **26.8%** year-over-year revenue increase, with **$123.12 million** in revenue for the last quarter and an EPS of **$0.23**, surpassing analysts' expectations.
• Wall Street analysts have upgraded Loar's rating from "hold" to "buy," with an average price target of **$97.00**, signaling positive sentiment towards future growth prospects for the company.

Strs Ohio acquired a new stake in Loar Holdings Inc. (NYSE:LOAR - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 14,380 shares of the company's stock, valued at approximately $1,016,000.

A number of other institutional investors have also made changes to their positions in LOAR. Vanguard Group Inc. boosted its position in Loar by 0.5% during the first quarter. Vanguard Group Inc. now owns 2,735,157 shares of the company's stock worth $193,239,000 after purchasing an additional 13,832 shares during the period. T. Rowe Price Investment Management Inc. grew its stake in Loar by 232.6% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,601,485 shares of the company's stock valued at $113,145,000 after buying an additional 1,119,958 shares during the last quarter. Invesco Ltd. lifted its position in Loar by 38.5% during the first quarter. Invesco Ltd. now owns 1,179,384 shares of the company's stock worth $83,323,000 after acquiring an additional 327,888 shares during the last quarter. Federated Hermes Inc. grew its position in shares of Loar by 13.8% in the first quarter. Federated Hermes Inc. now owns 1,136,653 shares of the company's stock valued at $80,305,000 after purchasing an additional 137,920 shares during the last quarter. Finally, Alliancebernstein L.P. grew its position in shares of Loar by 30.9% in the first quarter. Alliancebernstein L.P. now owns 767,863 shares of the company's stock valued at $54,250,000 after purchasing an additional 181,225 shares during the last quarter.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded Loar from a "hold" rating to a "buy" rating in a research note on Saturday, August 16th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Loar presently has a consensus rating of "Buy" and an average price target of $97.00.

Loar Price Performance

LOAR traded down $0.66 during trading on Monday, hitting $79.35. 1,006,052 shares of the stock traded hands, compared to its average volume of 921,765. The business has a 50 day moving average price of $73.85 and a 200 day moving average price of $79.25. The company has a debt-to-equity ratio of 0.25, a current ratio of 6.15 and a quick ratio of 4.01. Loar Holdings Inc. has a twelve month low of $62.10 and a twelve month high of $99.67. The company has a market cap of $7.43 billion, a price-to-earnings ratio of 172.50 and a beta of 0.10.

Loar (NYSE:LOAR - Get Free Report) last released its quarterly earnings data on Wednesday, August 13th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.04. The business had revenue of $123.12 million for the quarter, compared to analyst estimates of $122.17 million. Loar had a return on equity of 5.50% and a net margin of 9.82%.Loar's revenue was up 26.8% compared to the same quarter last year. During the same period last year, the firm posted $0.13 earnings per share. Loar has set its FY 2025 guidance at 0.830-0.88 EPS. Equities research analysts forecast that Loar Holdings Inc. will post 0.28 earnings per share for the current fiscal year.

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.