KLP Kapitalforvaltning AS Invests $254,000 in Loar Holdings Inc. (NYSE:LOAR)

Key Points

• KLP Kapitalforvaltning AS has invested approximately $254,000 in Loar Holdings Inc. by acquiring 3,600 shares during the first quarter.
• Insider transactions revealed that Chairman Brett N. Milgrim sold 84,115 shares for over $6.8 million, reducing his ownership by 2.54% while still holding 3,222,517 shares.
• Loar's stock price recently rose by 2.2%, with current trading at $73.88 and a twelve-month range of $52.26 to $99.67.

KLP Kapitalforvaltning AS purchased a new position in Loar Holdings Inc. (NYSE:LOAR - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,600 shares of the company's stock, valued at approximately $254,000.

Other hedge funds have also made changes to their positions in the company. Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings 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 valued at $2,857,000 after buying an additional 139 shares during the last quarter. Huntleigh Advisors Inc. lifted its holdings in shares of Loar by 1.6% during 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 last quarter. GAMMA Investing LLC lifted its holdings 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 buying an additional 250 shares during the last quarter. Amalgamated Bank lifted its holdings 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 buying an additional 261 shares during the last quarter. Finally, Sterling Capital Management LLC lifted its holdings in shares of Loar by 141.5% during the 4th quarter. Sterling Capital Management LLC now owns 500 shares of the company's stock valued at $37,000 after buying an additional 293 shares during the last quarter.

Insider Transactions at Loar

In related news, Chairman Brett N. Milgrim sold 84,115 shares of the business's stock in a transaction that occurred 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 completion of the sale, the chairman directly owned 3,222,517 shares in the company, valued at approximately $260,733,850.47. The trade was a 2.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Glenn D'alessandro sold 19,939 shares of the business's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $80.91, for a total value of $1,613,264.49. Following the completion of the sale, the insider owned 908,135 shares of the company's stock, valued at approximately $73,477,202.85. This trade represents a 2.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,742,872 shares of company stock worth $464,655,774. 22.60% of the stock is currently owned by company insiders.

Loar Stock Up 2.2%

LOAR opened at $73.88 on Friday. The business has a 50 day moving average price of $81.74 and a 200 day moving average price of $79.34. Loar Holdings Inc. has a twelve month low of $52.26 and a twelve month high of $99.67. The company has a debt-to-equity ratio of 0.25, a quick ratio of 3.21 and a current ratio of 5.13. The firm has a market cap of $6.91 billion, a P/E ratio of 194.44 and a beta of 0.17.

Analyst Ratings Changes

LOAR has been the subject of several research reports. Wall Street Zen lowered Loar from a "buy" rating to a "hold" rating in a report on Friday, July 18th. Morgan Stanley initiated coverage on Loar in a report on Friday, May 23rd. They set an "overweight" rating and a $100.00 price target for the company. Finally, Citigroup lifted their price target on Loar from $91.00 to $99.00 and gave the company a "buy" rating in a report on Thursday, May 15th.

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.

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