Loar Holdings, LLC (NYSE:LOAR) Shares Acquired by Northern Trust Corp

Northern Trust Corp grew its holdings in Loar Holdings, LLC (NYSE:LOAR - Free Report) by 132.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 100,579 shares of the company's stock after purchasing an additional 57,317 shares during the quarter. Northern Trust Corp owned approximately 0.11% of Loar worth $7,434,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Sterling Capital Management LLC raised its holdings in Loar by 141.5% in the 4th quarter. Sterling Capital Management LLC now owns 500 shares of the company's stock valued at $37,000 after acquiring an additional 293 shares during the last quarter. Corebridge Financial Inc. grew its position in shares of Loar by 174.3% in the fourth quarter. Corebridge Financial Inc. now owns 524 shares of the company's stock valued at $39,000 after purchasing an additional 333 shares during the period. Arcadia Investment Management Corp MI acquired a new position in Loar in the fourth quarter valued at $61,000. R Squared Ltd purchased a new position in Loar during the fourth quarter worth about $95,000. Finally, MetLife Investment Management LLC lifted its position in Loar by 179.4% during the fourth quarter. MetLife Investment Management LLC now owns 1,735 shares of the company's stock worth $128,000 after buying an additional 1,114 shares during the period.

Loar Stock Performance

NYSE:LOAR opened at $85.18 on Tuesday. The firm has a 50-day moving average of $81.74 and a two-hundred day moving average of $79.46. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.95 and a quick ratio of 2.28. The stock has a market cap of $7.97 billion and a P/E ratio of 224.16. Loar Holdings, LLC has a 1-year low of $49.62 and a 1-year high of $99.67.

Loar (NYSE:LOAR - Get Free Report) last issued its quarterly earnings data on Monday, March 31st. The company reported $0.11 earnings per share for the quarter, meeting analysts' consensus estimates of $0.11. The business had revenue of $110.40 million for the quarter, compared to analyst estimates of $102.51 million. The business's revenue was up 27.8% on a year-over-year basis. On average, research analysts expect that Loar Holdings, LLC will post 0.28 earnings per share for the current fiscal year.

Analyst Ratings Changes

LOAR has been the subject of several recent analyst reports. Royal Bank of Canada restated an "outperform" rating and issued a $92.00 price target on shares of Loar in a report on Tuesday, April 1st. Morgan Stanley raised Loar from an "equal weight" rating to an "overweight" rating and set a $91.00 price target for the company in a research report on Thursday, April 3rd. Finally, Citigroup raised their price target on shares of Loar from $91.00 to $99.00 and gave the company a "buy" rating in a report on Thursday, May 15th.

Insider Activity at Loar

In other news, insider Michael J. Manella sold 130,744 shares of Loar stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $80.91, for a total value of $10,578,497.04. Following the completion of the transaction, the insider now directly owns 449,644 shares of the company's stock, valued at approximately $36,380,696.04. The trade was a 22.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Paul S. Levy sold 175,923 shares of the stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $80.91, for a total transaction of $14,233,929.93. Following the sale, the director now owns 8,012,580 shares in the company, valued at approximately $648,297,847.80. This trade represents a 2.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,968,407 shares of company stock valued at $240,173,810 over the last ninety days.

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.

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