Burkett Financial Services LLC Makes New $10.77 Million Investment in Loar Holdings Inc. $LOAR

Key Points

• Burkett Financial Services LLC has acquired a new position in Loar Holdings Inc., purchasing 125,000 shares valued at approximately $10.77 million, which represents about 3.9% of its portfolio.
• Several institutional investors, including Northern Trust Corp and Bank of America Corp DE, have increased their stakes in Loar, indicating growing interest in the company.
• Loar Holdings recently reported stronger-than-expected earnings, with a quarterly EPS of $0.23, surpassing analysts’ estimates, and a year-over-year revenue growth of 26.8%.

Burkett Financial Services LLC acquired a new position in Loar Holdings Inc. (NYSE:LOAR - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 125,000 shares of the company's stock, valued at approximately $10,771,000. Loar accounts for about 3.9% of Burkett Financial Services LLC's portfolio, making the stock its 9th biggest position. Burkett Financial Services LLC owned about 0.13% of Loar at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Amalgamated Bank lifted its stake in shares of Loar by 13.1% in the first quarter. Amalgamated Bank now owns 2,261 shares of the company's stock worth $160,000 after acquiring an additional 261 shares during the period. GAMMA Investing LLC lifted its stake in Loar by 204.9% in the first quarter. GAMMA Investing LLC now owns 372 shares of the company's stock valued at $26,000 after buying an additional 250 shares during the period. Arizona State Retirement System acquired a new position in Loar in the first quarter valued at approximately $378,000. Polar Asset Management Partners Inc. lifted its stake in Loar by 343.9% in the fourth quarter. Polar Asset Management Partners Inc. now owns 18,200 shares of the company's stock valued at $1,345,000 after buying an additional 14,100 shares during the period. Finally, Vanguard Group Inc. lifted its stake in Loar by 0.5% in the first quarter. Vanguard Group Inc. now owns 2,735,157 shares of the company's stock valued at $193,239,000 after buying an additional 13,832 shares during the period.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on LOAR. Morgan Stanley began coverage on Loar in a research report on Friday, May 23rd. They set an "overweight" rating and a $100.00 target price on the stock. Wall Street Zen raised Loar from a "hold" rating to a "buy" rating in a report on Saturday, August 16th. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Loar currently has an average rating of "Buy" and a consensus target price of $97.00.

Loar Stock Up 3.2%

Shares of LOAR stock traded up $2.51 during mid-day trading on Thursday, hitting $81.23. The company's stock had a trading volume of 205,563 shares, compared to its average volume of 839,973. Loar Holdings Inc. has a 52-week low of $62.10 and a 52-week high of $99.67. The business has a 50-day moving average price of $73.81 and a 200 day moving average price of $78.88. The company has a debt-to-equity ratio of 0.25, a quick ratio of 4.01 and a current ratio of 6.15. The stock has a market cap of $7.60 billion, a price-to-earnings ratio of 176.57 and a beta of 0.09.

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