Invesco Ltd. Acquires 327,888 Shares of Loar Holdings Inc. $LOAR

Key Points

• Invesco Ltd. increased its stake in Loar Holdings Inc. by 38.5%, now owning 1,179,384 shares valued at approximately $83.3 million.
• The company reported $0.23 earnings per share in its recent quarterly earnings, surpassing the consensus estimate of $0.19, alongside a 26.8% year-over-year revenue growth.
• Analyst ratings for Loar have been favorable, with Morgan Stanley giving it an "overweight" rating and setting a price target of $100.00, while Citigroup raised its price target from $91.00 to $99.00.

Invesco Ltd. boosted its stake in Loar Holdings Inc. (NYSE:LOAR - Free Report) by 38.5% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 1,179,384 shares of the company's stock after buying an additional 327,888 shares during the period. Invesco Ltd. owned approximately 1.26% of Loar worth $83,323,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Amalgamated Bank grew its position in shares of Loar by 13.1% during the 1st quarter. Amalgamated Bank now owns 2,261 shares of the company's stock worth $160,000 after purchasing an additional 261 shares in the last quarter. GAMMA Investing LLC lifted its stake in Loar by 204.9% in the 1st quarter. GAMMA Investing LLC now owns 372 shares of the company's stock valued at $26,000 after purchasing an additional 250 shares during the last quarter. Arizona State Retirement System bought a new position in Loar in the 1st quarter valued at approximately $378,000. Fortress Investment Group LLC bought a new position in Loar in the 4th quarter valued at approximately $739,000. Finally, Polar Asset Management Partners Inc. lifted its stake in Loar by 343.9% in the 4th quarter. Polar Asset Management Partners Inc. now owns 18,200 shares of the company's stock valued at $1,345,000 after purchasing an additional 14,100 shares during the last quarter.

Loar Stock Up 1.2%

Shares of NYSE LOAR traded up $0.85 during mid-day trading on Wednesday, reaching $72.27. 669,020 shares of the company's stock traded hands, compared to its average volume of 825,721. The stock has a market cap of $6.77 billion, a P/E ratio of 157.27 and a beta of 0.11. The business has a 50-day simple moving average of $77.07 and a 200 day simple moving average of $78.54. Loar Holdings Inc. has a 1-year low of $62.10 and a 1-year high of $99.67. The company has a debt-to-equity ratio of 0.25, a current ratio of 6.15 and a quick ratio of 4.01.

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, beating analysts' consensus estimates of $0.19 by $0.04. Loar had a net margin of 9.82% and a return on equity of 5.50%. The firm had revenue of $123.12 million during the quarter, compared to analysts' expectations of $122.17 million. During the same period last year, the company earned $0.13 earnings per share. The business's revenue was up 26.8% on a year-over-year basis. Loar has set its FY 2025 guidance at 0.830-0.88 EPS. On average, analysts expect that Loar Holdings Inc. will post 0.28 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on LOAR. Citigroup raised their price target on shares of Loar from $91.00 to $99.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Morgan Stanley began coverage on shares of Loar in a research report on Friday, May 23rd. They set an "overweight" rating and a $100.00 price objective for the company. Finally, Wall Street Zen upgraded shares of Loar from a "hold" rating to a "buy" rating in a research report on Saturday. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $97.00.

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.