Bank of New York Mellon Corp Has $53.46 Million Stock Holdings in Loar Holdings Inc. $LOAR

Bank of New York Mellon Corp increased its stake in shares of Loar Holdings Inc. (NYSE:LOAR - Free Report) by 837.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 933,216 shares of the company's stock after acquiring an additional 833,626 shares during the period. Bank of New York Mellon Corp owned about 1.00% of Loar worth $53,464,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Rakuten Securities Inc. acquired a new stake in shares of Loar in the 2nd quarter valued at approximately $27,000. Fifth Third Bancorp bought a new stake in shares of Loar in the 4th quarter valued at about $28,000. Sunbelt Securities Inc. raised its holdings in shares of Loar by 238.3% in the 4th quarter. Sunbelt Securities Inc. now owns 592 shares of the company's stock valued at $40,000 after purchasing an additional 417 shares during the period. Danske Bank A S acquired a new stake in Loar in the 4th quarter valued at about $62,000. Finally, Kestra Advisory Services LLC bought a new position in Loar during the fourth quarter worth about $67,000.

Insider Activity

In other news, Director Taiwo K. Danmola sold 35,000 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $60.59, for a total transaction of $2,120,650.00. Following the sale, the director directly owned 54,286 shares of the company's stock, valued at approximately $3,289,188.74. This represents a 39.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 20.10% of the company's stock.

Loar Stock Down 0.1%

NYSE LOAR opened at $70.30 on Friday. The company has a current ratio of 4.56, a quick ratio of 2.89 and a debt-to-equity ratio of 0.80. The company has a market cap of $6.58 billion, a price-to-earnings ratio of 99.02 and a beta of 0.47. The company has a 50 day moving average of $69.23 and a 200-day moving average of $66.71. Loar Holdings Inc. has a 1-year low of $53.15 and a 1-year high of $83.43.

Loar (NYSE:LOAR - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.15 by $0.19. The business had revenue of $156.09 million for the quarter, compared to the consensus estimate of $149.71 million. Loar had a return on equity of 8.47% and a net margin of 12.64%.The firm's quarterly revenue was up 36.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.16 earnings per share. Loar has set its FY 2026 guidance at 1.260-1.300 EPS. On average, equities research analysts expect that Loar Holdings Inc. will post 1.16 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on LOAR shares. Citigroup raised their price target on Loar from $71.00 to $87.00 and gave the company a "buy" rating in a report on Thursday, June 25th. Zacks Research raised shares of Loar from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 7th. Jefferies Financial Group set a $75.00 target price on shares of Loar in a research note on Sunday, May 10th. Weiss Ratings raised shares of Loar from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, July 10th. Finally, Morgan Stanley reissued an "equal weight" rating and issued a $82.00 price target (down from $91.00) on shares of Loar in a report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $84.40.

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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