Beck Mack & Oliver LLC Lowers Stake in Loar Holdings Inc. $LOAR

Key Points

• Beck Mack & Oliver LLC decreased its stake in Loar Holdings by 30.8%, selling 20,000 shares in the first quarter, reducing its ownership to 45,000 shares valued at approximately $3.18 million.
• Loar Holdings recently received upgrades from several analysts, with Citigroup raising its target price from $91 to $99 and assigning a "buy" rating, contributing to a consensus rating of "buy" and an average price target of $97.
• Shares of Loar Holdings have experienced a decline of 2.9%, closing at $70.71, while the company also reported a quarterly earnings beat with EPS of $0.23 against estimates of $0.19 and a 26.8% year-over-year revenue increase.

Beck Mack & Oliver LLC lessened its position in Loar Holdings Inc. (NYSE:LOAR - Free Report) by 30.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,000 shares of the company's stock after selling 20,000 shares during the period. Beck Mack & Oliver LLC's holdings in Loar were worth $3,179,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in shares of Loar by 0.3% during the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 40,436 shares of the company's stock worth $2,857,000 after purchasing an additional 139 shares during the period. Huntleigh Advisors Inc. grew 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. GAMMA Investing LLC increased its stake in shares of Loar by 204.9% during the 1st quarter. GAMMA Investing LLC now owns 372 shares of the company's stock valued at $26,000 after acquiring an additional 250 shares during the last quarter. Amalgamated Bank increased its stake in shares of Loar by 13.1% during the 1st 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. Finally, MetLife Investment Management LLC lifted its holdings in shares of Loar by 16.1% during the 1st quarter. MetLife Investment Management LLC now owns 2,014 shares of the company's stock worth $142,000 after acquiring an additional 279 shares during the period.

Analyst Ratings Changes

LOAR has been the subject of a number of recent analyst reports. Citigroup boosted their target price on shares of Loar from $91.00 to $99.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Morgan Stanley assumed coverage on shares of Loar in a research note on Friday, May 23rd. They set an "overweight" rating and a $100.00 price objective for the company. Finally, Wall Street Zen raised Loar from a "hold" rating to a "buy" rating in a research report on Saturday, August 16th. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $97.00.

Loar Stock Down 2.9%

Shares of NYSE LOAR opened at $70.71 on Friday. The stock has a fifty day moving average price of $75.43 and a 200 day moving average price of $78.29. The company has a current ratio of 6.15, a quick ratio of 4.01 and a debt-to-equity ratio of 0.25. Loar Holdings Inc. has a 12-month low of $62.10 and a 12-month high of $99.67. The company has a market cap of $6.62 billion, a P/E ratio of 153.72 and a beta of 0.11.

Loar (NYSE:LOAR - Get Free Report) last posted its earnings results on Wednesday, August 13th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.19 by $0.04. The business had revenue of $123.12 million during the quarter, compared to analyst estimates of $122.17 million. Loar had a return on equity of 5.50% and a net margin of 9.82%.The company's revenue for the quarter was up 26.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.13 earnings per share. Loar has set its FY 2025 guidance at 0.830-0.88 EPS. Research analysts anticipate that Loar Holdings Inc. will post 0.28 EPS for the current fiscal year.

Loar 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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