Arizona State Retirement System Makes New Investment in Loar Holdings Inc. (NYSE:LOAR)

Arizona State Retirement System purchased a new position in shares of Loar Holdings Inc. (NYSE:LOAR - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 5,357 shares of the company's stock, valued at approximately $378,000.

Other large investors also recently made changes to their positions in the company. Xponance Inc. increased its holdings in shares of Loar by 19.2% during the 1st quarter. Xponance Inc. now owns 4,585 shares of the company's stock worth $324,000 after acquiring an additional 740 shares during the last quarter. Linden Thomas Advisory Services LLC grew its position in Loar by 2.5% during the first quarter. Linden Thomas Advisory Services LLC now owns 29,716 shares of the company's stock worth $2,099,000 after buying an additional 729 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Loar by 5.3% during the 1st quarter. Bank of New York Mellon Corp now owns 87,621 shares of the company's stock worth $6,190,000 after purchasing an additional 4,430 shares in the last quarter. Huntleigh Advisors Inc. increased its holdings in Loar by 1.6% in the 1st quarter. Huntleigh Advisors Inc. now owns 11,477 shares of the company's stock valued at $811,000 after buying an additional 182 shares during the period. Finally, Amalgamated Bank increased its stake in Loar by 13.1% in the first quarter. Amalgamated Bank now owns 2,261 shares of the company's stock valued at $160,000 after acquiring an additional 261 shares during the last quarter.

Analyst Upgrades and Downgrades

LOAR has been the topic of a number of recent analyst reports. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $92.00 price objective on shares of Loar in a research note on Tuesday, April 1st. Wall Street Zen cut Loar from a "buy" rating to a "hold" rating in a research note on Friday, July 18th. Citigroup boosted their price objective 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 assumed coverage on shares of Loar in a report on Friday, May 23rd. They issued an "overweight" rating and a $100.00 target price for the company.

Insider Activity

In related news, Director Anthony Carpenito sold 690,258 shares of Loar stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $80.91, for a total transaction of $55,848,774.78. Following the transaction, the director directly owned 31,438,420 shares of the company's stock, valued at $2,543,682,562.20. This trade represents a 2.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Raja Bobbili sold 690,258 shares of Loar stock in a transaction on Friday, May 16th. The stock was sold at an average price of $80.91, for a total transaction of $55,848,774.78. Following the completion of the transaction, the director directly owned 31,438,420 shares in the company, valued at $2,543,682,562.20. This represents a 2.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,742,872 shares of company stock valued at $464,655,774. 22.60% of the stock is owned by corporate insiders.

Loar Price Performance

NYSE LOAR opened at $74.16 on Wednesday. The business's fifty day moving average price is $83.47 and its 200-day moving average price is $79.46. The stock has a market capitalization of $6.94 billion, a price-to-earnings ratio of 195.16 and a beta of 0.17. The company has a debt-to-equity ratio of 0.25, a current ratio of 5.13 and a quick ratio of 3.21. Loar Holdings Inc. has a 1-year low of $52.26 and a 1-year high of $99.67.

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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