Bank of New York Mellon Corp Buys Shares of 707,403 Loar Holdings Inc. $LOAR

Key Points

• Bank of New York Mellon acquired 707,403 Loar Holdings shares worth approximately $57.0 million, giving it a 0.76% stake. Several other institutional investors also increased or initiated positions.
• Analysts remain generally positive, with four Buy and three Hold ratings. Loar has a “Moderate Buy” consensus and an average price target of $88, although Morgan Stanley lowered its target to $82.
• Loar exceeded quarterly expectations, reporting $0.38 earnings per share versus a $0.31 estimate and $171.6 million in revenue, up 39.4% year over year. Shares opened at $73.30, near their 50-day average.

Bank of New York Mellon Corp bought a new position in shares of Loar Holdings Inc. (NYSE:LOAR - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 707,403 shares of the company's stock, valued at approximately $57,024,000. Bank of New York Mellon Corp owned 0.76% of Loar at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. NewEdge Advisors LLC acquired a new stake in Loar in the 1st quarter valued at approximately $332,000. Janus Henderson Group PLC grew its stake in shares of Loar by 54.0% in 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 in the last quarter. California State Teachers Retirement System raised its holdings in shares of Loar by 26.2% in 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 during the period. Readystate Asset Management LP purchased a new stake in shares of Loar in the 1st quarter valued at $1,432,000. Finally, Royal Bank of Canada lifted its stake in Loar by 236.5% during the 1st quarter. Royal Bank of Canada now owns 163,154 shares of the company's stock worth $9,348,000 after acquiring an additional 114,674 shares in the last quarter.

Analysts Set New Price Targets

A number of brokerages have issued reports on LOAR. Morgan Stanley reiterated an "equal weight" rating and set a $82.00 price target (down from $91.00) on shares of Loar in a research note on Wednesday, July 15th. Royal Bank Of Canada raised their price objective on shares of Loar from $80.00 to $85.00 and gave the company an "outperform" rating in a research note on Friday, August 7th. Citigroup lifted their price objective on shares of Loar from $71.00 to $87.00 and gave the company a "buy" rating in a report on Thursday, June 25th. Weiss Ratings raised shares of Loar from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, July 10th. Finally, Jefferies Financial Group reiterated a "buy" rating and set a $88.00 target price on shares of Loar in a report on Sunday, August 9th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Loar currently has an average rating of "Moderate Buy" and a consensus price target of $88.00.

Loar Trading Up 0.3%

Shares of Loar stock opened at $73.30 on Thursday. The company has a current ratio of 4.91, a quick ratio of 3.24 and a debt-to-equity ratio of 0.79. The company has a fifty day simple moving average of $73.66 and a 200-day simple moving average of $67.04. The stock has a market cap of $6.87 billion, a price-to-earnings ratio of 101.81 and a beta of 0.56. Loar Holdings Inc. has a 12-month low of $53.15 and a 12-month high of $83.43.

Loar (NYSE:LOAR - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.38 earnings per share for the quarter, beating analysts' consensus estimates of $0.31 by $0.07. Loar had a net margin of 11.60% and a return on equity of 9.37%. The firm had revenue of $171.58 million during the quarter, compared to analysts' expectations of $162.80 million. During the same period in the previous year, the company earned $0.23 earnings per share. Loar's quarterly 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. On average, equities analysts forecast that Loar Holdings Inc. will post 1.2 EPS 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.

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