Price T Rowe Associates Inc. MD Has $55.19 Million Position in Loar Holdings Inc. $LOAR

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 cut its holdings in shares of Loar Holdings Inc. (NYSE:LOAR - Free Report) by 31.6% during the first quarter, according to its most recent 13F filing with the Securities and 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.

A number of other institutional investors have also made changes to their positions in LOAR. T. Rowe Price Investment Management Inc. increased its holdings in shares of Loar by 232.6% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,601,485 shares of the company's stock worth $113,145,000 after acquiring an additional 1,119,958 shares during the last quarter. Fred Alger Management LLC increased its holdings in shares of Loar by 164.0% during the 4th quarter. Fred Alger Management LLC now owns 555,366 shares of the company's stock worth $41,047,000 after acquiring an additional 345,036 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Loar by 38.5% during the 1st quarter. Invesco Ltd. now owns 1,179,384 shares of the company's stock worth $83,323,000 after acquiring an additional 327,888 shares during the last quarter. Alyeska Investment Group L.P. increased its holdings in shares of Loar by 99.8% during the 4th quarter. Alyeska Investment Group L.P. now owns 650,000 shares of the company's stock worth $48,042,000 after acquiring an additional 324,700 shares during the last quarter. Finally, Balyasny Asset Management L.P. acquired a new position in shares of Loar during the 4th quarter worth approximately $19,344,000.

Analysts Set New Price Targets

A number of research firms recently weighed in on LOAR. Citigroup boosted 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. Wall Street Zen raised Loar from a "hold" rating to a "buy" rating in a report on Saturday, August 16th. Finally, Morgan Stanley started coverage on Loar in a report on Friday, May 23rd. They set an "overweight" rating and a $100.00 price target for the company. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Loar has a consensus rating of "Buy" and a consensus price target of $97.00.

Loar Stock Performance

Shares of Loar stock traded down $2.13 during trading on Monday, reaching $70.71. The company's stock had a trading volume of 861,300 shares, compared to its average volume of 1,109,027. The business's 50-day moving average price is $75.19 and its 200-day moving average price is $78.37. The firm has a market cap of $6.62 billion, a PE ratio of 153.72 and a beta of 0.10. Loar Holdings Inc. has a 52 week low of $62.10 and a 52 week high of $99.67. 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 (NYSE:LOAR - Get Free Report) last announced its earnings results on Wednesday, August 13th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.19 by $0.04. The company had revenue of $123.12 million during the quarter, compared to analysts' expectations of $122.17 million. Loar had a net margin of 9.82% and a return on equity of 5.50%. Loar's quarterly revenue was up 26.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.13 earnings per share. Loar has set its FY 2025 guidance at 0.830-0.88 EPS. Equities analysts forecast that Loar Holdings Inc. will post 0.28 earnings per share for the current 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.