Lord Abbett & CO. LLC Lowers Position in Loar Holdings Inc. $LOAR

Key Points

• Lord Abbett & CO. LLC has decreased its stake in Loar Holdings Inc. by 19.1%, selling 154,817 shares and now owning approximately 0.70% of the company, valued at $46.3 million.
• In the same period, several other institutional investors have either increased their holdings or established new positions in Loar, indicating a mix of strategies among major stakeholders.
• Loar’s recent earnings report showed a revenue increase of 26.8% year-over-year, with earnings per share of $0.23, surpassing analysts' expectations.

Lord Abbett & CO. LLC cut its holdings in Loar Holdings Inc. (NYSE:LOAR - Free Report) by 19.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 655,686 shares of the company's stock after selling 154,817 shares during the quarter. Lord Abbett & CO. LLC owned 0.70% of Loar worth $46,324,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. LPL Financial LLC purchased a new position in shares of Loar in the fourth quarter worth $349,000. Geode Capital Management LLC increased its holdings in Loar by 93.9% in the 4th quarter. Geode Capital Management LLC now owns 340,487 shares of the company's stock worth $25,172,000 after buying an additional 164,912 shares in the last quarter. Wells Fargo & Company MN raised its position in Loar by 179.9% in the 4th quarter. Wells Fargo & Company MN now owns 6,536 shares of the company's stock worth $483,000 after buying an additional 4,201 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in Loar by 16.5% during the 4th quarter. Envestnet Asset Management Inc. now owns 17,559 shares of the company's stock valued at $1,298,000 after acquiring an additional 2,484 shares during the period. Finally, Legal & General Group Plc boosted its holdings in shares of Loar by 194.0% during the 4th quarter. Legal & General Group Plc now owns 3,084 shares of the company's stock valued at $228,000 after acquiring an additional 2,035 shares during the last quarter.

Wall Street Analyst Weigh In

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

Loar Price Performance

Shares of LOAR stock traded up $0.2350 on Wednesday, hitting $71.6550. 326,662 shares of the stock traded hands, compared to its average volume of 822,165. 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 Holdings Inc. has a 52 week low of $62.10 and a 52 week high of $99.67. The firm has a 50 day simple moving average of $77.07 and a two-hundred day simple moving average of $78.54. The firm has a market cap of $6.71 billion, a price-to-earnings ratio of 155.77 and a beta of 0.11.

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