Loar Holdings Inc. $LOAR Shares Sold by Fred Alger Management LLC

Key Points

• Fred Alger Management LLC reduced its position in Loar Holdings Inc. by 10.9%, selling 60,351 shares, and now holds 495,015 shares valued at approximately $34.97 million.
• Loar Holdings recently received several upgrades from analysts, including a target price increase by Citigroup from $91.00 to $99.00 and a consensus "Buy" rating from three investment analysts.
• The company reported earnings per share (EPS) of $0.23 for the last quarter, surpassing analyst expectations and indicating a 26.8% revenue increase year-over-year.

Fred Alger Management LLC lessened its position in shares of Loar Holdings Inc. (NYSE:LOAR - Free Report) by 10.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 495,015 shares of the company's stock after selling 60,351 shares during the quarter. Fred Alger Management LLC owned about 0.53% of Loar worth $34,973,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of LOAR. Amalgamated Bank boosted its holdings in 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 period. GAMMA Investing LLC increased its position in 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 buying an additional 250 shares in the last quarter. Arizona State Retirement System purchased a new stake in Loar during the 1st quarter valued at about $378,000. Polar Asset Management Partners Inc. boosted its stake in shares of Loar by 343.9% in the fourth quarter. Polar Asset Management Partners Inc. now owns 18,200 shares of the company's stock worth $1,345,000 after buying an additional 14,100 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Loar by 5.3% in the first quarter. Bank of New York Mellon Corp now owns 87,621 shares of the company's stock worth $6,190,000 after buying an additional 4,430 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Wall Street Zen raised Loar from a "hold" rating to a "buy" rating in a report on Saturday, August 16th. Morgan Stanley began coverage on Loar in a research note on Friday, May 23rd. They issued an "overweight" rating and a $100.00 price target on the stock. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $97.00.

Loar Price Performance

Shares of Loar stock traded down $2.91 during trading on Friday, hitting $76.54. 894,825 shares of the company were exchanged, compared to its average volume of 986,268. The company has a quick ratio of 4.01, a current ratio of 6.15 and a debt-to-equity ratio of 0.25. Loar Holdings Inc. has a fifty-two week low of $62.10 and a fifty-two week high of $99.67. The stock has a market capitalization of $7.17 billion, a price-to-earnings ratio of 166.39 and a beta of 0.09. The firm has a 50 day moving average price of $73.86 and a 200 day moving average price of $78.78.

Loar (NYSE:LOAR - Get Free Report) last issued its quarterly earnings data on Wednesday, August 13th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.04. The firm 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 quarterly revenue was up 26.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.13 EPS. Loar has set its FY 2025 guidance at 0.830-0.88 EPS. On average, equities analysts expect that Loar Holdings Inc. will post 0.28 earnings per share 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.