Loar Holdings Inc. (NYSE:LOAR) Shares Bought by Federated Hermes Inc.

Key Points

• Federated Hermes Inc. has increased its stake in Loar Holdings Inc. by 13.8%, acquiring an additional 137,920 shares, bringing its total holdings to 1,136,653 shares valued at approximately $80.3 million.
• Several other institutional investors have also increased their positions in Loar Holdings, notably TD Asset Management, which boosted its holdings by 404.3%.
• Shares of Loar are currently trading at $71.79, representing a 1.1% decrease, with analysts setting price targets as high as $100 following recent upgrades.

Federated Hermes Inc. increased its holdings in shares of Loar Holdings Inc. (NYSE:LOAR - Free Report) by 13.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,136,653 shares of the company's stock after acquiring an additional 137,920 shares during the period. Federated Hermes Inc. owned approximately 1.21% of Loar worth $80,305,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in Loar by 0.3% during the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 40,436 shares of the company's stock worth $2,857,000 after acquiring an additional 139 shares during the period. Huntleigh Advisors Inc. grew its holdings in Loar by 1.6% during the first quarter. Huntleigh Advisors Inc. now owns 11,477 shares of the company's stock worth $811,000 after acquiring an additional 182 shares during the period. GAMMA Investing LLC grew its holdings in Loar by 204.9% during the first quarter. GAMMA Investing LLC now owns 372 shares of the company's stock worth $26,000 after acquiring an additional 250 shares during the period. Amalgamated Bank grew its holdings in Loar by 13.1% during 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. Finally, Sterling Capital Management LLC boosted its position in Loar by 141.5% during the fourth quarter. Sterling Capital Management LLC now owns 500 shares of the company's stock worth $37,000 after purchasing an additional 293 shares in the last quarter.

Insiders Place Their Bets

In other news, Chairman Brett N. Milgrim sold 84,115 shares of the company's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $80.91, for a total value of $6,805,744.65. Following the sale, the chairman directly owned 3,222,517 shares in the company, valued at $260,733,850.47. This represents a 2.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael J. Manella sold 19,684 shares of the company's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $80.91, for a total value of $1,592,632.44. Following the completion of the sale, the insider owned 429,960 shares in the company, valued at $34,788,063.60. This represents a 4.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,742,872 shares of company stock valued at $464,655,774. Insiders own 22.60% of the company's stock.

Analyst Upgrades and Downgrades

LOAR has been the topic of a number of research analyst reports. 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. Wall Street Zen downgraded Loar from a "buy" rating to a "hold" rating in a research report on Friday, July 18th. Finally, Citigroup boosted their target price on Loar from $91.00 to $99.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th.

Loar Price Performance

Shares of NYSE:LOAR traded down $2.52 on Friday, hitting $71.39. The company had a trading volume of 594,003 shares, compared to its average volume of 748,613. The company has a current ratio of 5.13, a quick ratio of 3.21 and a debt-to-equity ratio of 0.25. Loar Holdings Inc. has a 52-week low of $52.26 and a 52-week high of $99.67. The business has a 50 day moving average of $81.26 and a 200 day moving average of $79.32. The company has a market cap of $6.68 billion, a PE ratio of 187.87 and a beta of 0.11.

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.