Loar Holdings Inc. $LOAR Shares Sold by Price T Rowe Associates Inc. MD

Key Points

• Price T Rowe Associates Inc. reduced its stake in Loar Holdings by 31.6%, selling 360,992 shares and now holding 781,081 shares valued at approximately $55.2 million.
• Loar Holdings reported quarterly earnings of $0.23 **per share**, beating expectations, with revenues of $123.12 million, marking a 26.8% year-over-year increase.
• Analysts have given Loar Holdings a current average rating of "Buy", with a target price averaging $97.00, indicating positive investor sentiment.

Price T Rowe Associates Inc. MD trimmed its position in Loar Holdings Inc. (NYSE:LOAR - Free Report) by 31.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 781,081 shares of the company's stock after selling 360,992 shares during the quarter. Price T Rowe Associates Inc. MD owned about 0.83% of Loar worth $55,185,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Amalgamated Bank raised 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 purchasing an additional 261 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Loar by 204.9% in the first quarter. GAMMA Investing LLC now owns 372 shares of the company's stock worth $26,000 after purchasing an additional 250 shares during the last quarter. Arizona State Retirement System purchased a new position in shares of Loar in the first quarter worth about $378,000. Fortress Investment Group LLC purchased a new position in shares of Loar in the fourth quarter worth about $739,000. Finally, Polar Asset Management Partners Inc. grew its holdings in Loar by 343.9% during the fourth quarter. Polar Asset Management Partners Inc. now owns 18,200 shares of the company's stock worth $1,345,000 after acquiring an additional 14,100 shares during the period.

Loar Price Performance

LOAR traded down $2.13 during trading on Friday, hitting $70.71. The company's stock had a trading volume of 861,300 shares, compared to its average volume of 1,095,663. 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 Holdings Inc. has a twelve month low of $62.10 and a twelve month high of $99.67. The business's fifty day simple moving average is $75.43 and its 200 day simple moving average is $78.29. The firm has a market capitalization of $6.62 billion, a price-to-earnings ratio of 153.72 and a beta of 0.11.

Loar (NYSE:LOAR - Get Free Report) last issued its quarterly earnings data on Wednesday, August 13th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.19 by $0.04. Loar had a return on equity of 5.50% and a net margin of 9.82%.The company had revenue of $123.12 million for the quarter, compared to analyst estimates of $122.17 million. During the same period last year, the company earned $0.13 earnings per share. Loar's quarterly revenue was up 26.8% compared to the same quarter last year. Loar has set its FY 2025 guidance at 0.830-0.88 EPS. On average, equities research analysts forecast that Loar Holdings Inc. will post 0.28 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on LOAR shares. Citigroup raised their target price on Loar from $91.00 to $99.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Morgan Stanley started coverage on Loar in a report on Friday, May 23rd. They set an "overweight" rating and a $100.00 target price on the stock. Finally, 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, According to MarketBeat.com, Loar has a consensus rating of "Buy" and an average target price of $97.00.

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.