Burkett Financial Services LLC Purchases New Holdings 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 purchased a new stake in Loar Holdings Inc. (NYSE:LOAR - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 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 largest position. Burkett Financial Services LLC owned 0.13% of Loar as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in LOAR. Northern Trust Corp increased its position in Loar by 132.5% in the 4th quarter. Northern Trust Corp now owns 100,579 shares of the company's stock valued at $7,434,000 after acquiring an additional 57,317 shares during the period. Bank of America Corp DE increased its position in Loar by 83.2% in the 4th quarter. Bank of America Corp DE now owns 40,739 shares of the company's stock valued at $3,011,000 after acquiring an additional 18,503 shares during the period. Captrust Financial Advisors increased its position in Loar by 4.4% in the 4th quarter. Captrust Financial Advisors now owns 10,935 shares of the company's stock valued at $808,000 after acquiring an additional 464 shares during the period. Deutsche Bank AG acquired a new position in Loar in the 4th quarter valued at about $13,443,000. Finally, Ethic Inc. acquired a new position in Loar in the 4th quarter valued at about $424,000.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Wall Street Zen upgraded Loar from a "hold" rating to a "buy" rating in a research report on Saturday, August 16th. Morgan Stanley initiated 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. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $97.00.

Loar Stock Performance

Shares of LOAR stock opened at $76.54 on Friday. The company has a market cap of $7.17 billion, a price-to-earnings ratio of 166.39 and a beta of 0.09. The stock has a 50 day simple moving average of $73.86 and a 200-day simple moving average of $78.72. Loar Holdings Inc. has a 12-month low of $62.10 and a 12-month high of $99.67. 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 (NYSE:LOAR - Get Free Report) last issued its earnings results on Wednesday, August 13th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.19 by $0.04. The business had revenue of $123.12 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the business posted $0.13 EPS. Loar has set its FY 2025 guidance at 0.830-0.88 EPS. On average, equities analysts forecast that Loar Holdings Inc. will post 0.28 EPS for the current year.

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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