33,703 Shares in Loar Holdings Inc. $LOAR Bought by Empirical Financial Services LLC d.b.a. Empirical Wealth Management

Key Points

• Empirical Wealth Management acquired a significant new position in Loar Holdings Inc., purchasing 33,703 shares valued at approximately $2.9 million during the second quarter.
• Several hedge funds have increased their stakes in Loar Holdings, with notable increases including GAMMA Investing LLC's holdings up by 204.9% and Caitong International Asset Management's by 5,286.7% in the first quarter.
• Loar Holdings reported a 26.8% year-over-year revenue growth, with recent earnings of $0.23 per share beating consensus estimates, leading to an average stock rating of "Moderate Buy" among analysts.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in shares of Loar Holdings Inc. (NYSE:LOAR - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 33,703 shares of the company's stock, valued at approximately $2,904,000.

Other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its holdings in Loar by 204.9% during the first quarter. GAMMA Investing LLC now owns 372 shares of the company's stock worth $26,000 after buying an additional 250 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in Loar by 5,286.7% during the first quarter. Caitong International Asset Management Co. Ltd now owns 808 shares of the company's stock worth $57,000 after buying an additional 793 shares in the last quarter. MetLife Investment Management LLC boosted its holdings in Loar by 16.1% during the first quarter. MetLife Investment Management LLC now owns 2,014 shares of the company's stock worth $142,000 after buying an additional 279 shares in the last quarter. California State Teachers Retirement System boosted its holdings in Loar by 184.3% during the fourth quarter. California State Teachers Retirement System now owns 2,226 shares of the company's stock worth $165,000 after buying an additional 1,443 shares in the last quarter. Finally, Amalgamated Bank boosted its holdings in Loar by 13.1% during the first quarter. Amalgamated Bank now owns 2,261 shares of the company's stock worth $160,000 after buying an additional 261 shares in the last quarter.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on LOAR. Weiss Ratings reissued a "hold (c-)" rating on shares of Loar in a report on Saturday, September 27th. Wall Street Zen raised shares of Loar from a "hold" rating to a "buy" rating in a report on Saturday, August 16th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, Loar has an average rating of "Moderate Buy" and an average price target of $97.00.

Loar Stock Performance

LOAR opened at $78.83 on Friday. The company has a quick ratio of 4.01, a current ratio of 6.15 and a debt-to-equity ratio of 0.25. The company has a market cap of $7.38 billion, a price-to-earnings ratio of 171.37 and a beta of 0.21. Loar Holdings Inc. has a 52-week low of $62.10 and a 52-week high of $99.67. The firm's fifty day simple moving average is $74.51 and its two-hundred day simple moving average is $79.92.

Loar (NYSE:LOAR - Get Free Report) last posted its quarterly earnings data on Wednesday, August 13th. The company reported $0.23 earnings per share (EPS) 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 the consensus estimate of $122.17 million. Loar had a net margin of 9.82% and a return on equity of 5.50%. The company'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 analysts anticipate that Loar Holdings Inc. will post 0.28 earnings per share for the current fiscal year.

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.

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