Bank of America Corp DE reduced its position in shares of Loar Holdings Inc. (NYSE:LOAR - Free Report) by 58.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 224,951 shares of the company's stock after selling 321,338 shares during the quarter. Bank of America Corp DE owned about 0.24% of Loar worth $12,887,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in LOAR. Janus Henderson Group PLC grew its position in Loar by 54.0% during the first quarter. Janus Henderson Group PLC now owns 411,900 shares of the company's stock valued at $23,598,000 after buying an additional 144,375 shares during the period. California State Teachers Retirement System lifted its stake in shares of Loar by 26.2% during the 1st quarter. California State Teachers Retirement System now owns 40,360 shares of the company's stock valued at $2,312,000 after buying an additional 8,372 shares in the last quarter. Readystate Asset Management LP purchased a new stake in shares of Loar during the 1st quarter valued at approximately $1,432,000. Royal Bank of Canada grew its stake in Loar by 236.5% in the 1st quarter. Royal Bank of Canada now owns 163,154 shares of the company's stock valued at $9,348,000 after buying an additional 114,674 shares in the last quarter. Finally, Empowered Funds LLC grew its stake in Loar by 183.1% in the 1st quarter. Empowered Funds LLC now owns 23,106 shares of the company's stock valued at $1,324,000 after buying an additional 14,943 shares in the last quarter.
Loar Trading Up 0.8%
Shares of LOAR stock opened at $74.99 on Friday. The company has a current ratio of 4.91, a quick ratio of 3.24 and a debt-to-equity ratio of 0.79. Loar Holdings Inc. has a 12-month low of $53.15 and a 12-month high of $83.43. The stock has a market capitalization of $7.03 billion, a P/E ratio of 104.15 and a beta of 0.56. The firm's 50 day moving average is $73.38 and its 200 day moving average is $66.91.
Loar (NYSE:LOAR - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.07. Loar had a net margin of 11.60% and a return on equity of 9.37%. The business had revenue of $171.58 million for the quarter, compared to analysts' expectations of $162.80 million. During the same quarter last year, the company posted $0.23 EPS. The company's revenue was up 39.4% compared to the same quarter last year. Loar has set its FY 2026 guidance at 1.320-1.360 EPS. Research analysts expect that Loar Holdings Inc. will post 1.2 earnings per share for the current year.
Analysts Set New Price Targets
A number of research analysts have weighed in on LOAR shares. Morgan Stanley reaffirmed an "equal weight" rating and set a $82.00 target price (down from $91.00) on shares of Loar in a report on Wednesday, July 15th. Weiss Ratings raised shares of Loar from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, July 10th. Citigroup raised their price objective on shares of Loar from $71.00 to $87.00 and gave the company a "buy" rating in a research report on Thursday, June 25th. Zacks Research cut shares of Loar from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 5th. Finally, Royal Bank Of Canada upped their target price on shares of Loar from $80.00 to $85.00 and gave the stock an "outperform" rating in a report on Friday, August 7th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $88.00.
View Our Latest Report on Loar
About Loar
(
Free Report)
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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