New York State Common Retirement Fund Sells 3,986 Shares of Loar Holdings Inc. (NYSE:LOAR)

New York State Common Retirement Fund cut its stake in shares of Loar Holdings Inc. (NYSE:LOAR - Free Report) by 3.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 97,816 shares of the company's stock after selling 3,986 shares during the quarter. New York State Common Retirement Fund owned approximately 0.10% of Loar worth $6,911,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LOAR. Huntleigh Advisors Inc. lifted its holdings in Loar by 1.6% in the first quarter. Huntleigh Advisors Inc. now owns 11,477 shares of the company's stock valued at $811,000 after buying an additional 182 shares during the period. GAMMA Investing LLC raised its position in shares of Loar by 204.9% in the 1st quarter. GAMMA Investing LLC now owns 372 shares of the company's stock worth $26,000 after acquiring an additional 250 shares in the last quarter. Amalgamated Bank raised its position in shares of Loar by 13.1% in the 1st quarter. Amalgamated Bank now owns 2,261 shares of the company's stock worth $160,000 after acquiring an additional 261 shares in the last quarter. Sterling Capital Management LLC lifted its stake in shares of 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 purchasing an additional 293 shares during the period. Finally, Corebridge Financial Inc. boosted its position in shares of Loar by 174.3% during the 4th quarter. Corebridge Financial Inc. now owns 524 shares of the company's stock valued at $39,000 after purchasing an additional 333 shares in the last quarter.

Insider Buying and Selling at Loar

In other Loar news, Director Raja Bobbili sold 690,258 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $80.91, for a total value of $55,848,774.78. Following the completion of the sale, the director owned 31,438,420 shares of the company's stock, valued at approximately $2,543,682,562.20. This trade represents a 2.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Paul S. Levy sold 1,168,499 shares of the company's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $80.91, for a total value of $94,543,254.09. Following the transaction, the director directly owned 8,188,503 shares in the company, valued at $662,531,777.73. The trade was a 12.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,742,872 shares of company stock worth $464,655,774 in the last quarter. Company insiders own 22.60% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Morgan Stanley began coverage on Loar in a research note on Friday, May 23rd. They set an "overweight" rating and a $100.00 target price for the company. Wall Street Zen cut Loar from a "buy" rating to a "hold" rating in a report on Friday, July 18th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $92.00 price objective on shares of Loar in a research note on Tuesday, April 1st. Finally, Citigroup boosted their target price on shares of Loar from $91.00 to $99.00 and gave the company a "buy" rating in a research report on Thursday, May 15th.

Loar Stock Down 0.6%

Shares of LOAR traded down $0.44 during trading hours on Thursday, hitting $73.00. The stock had a trading volume of 1,022,897 shares, compared to its average volume of 868,208. Loar Holdings Inc. has a 1-year low of $52.26 and a 1-year high of $99.67. The firm has a market capitalization of $6.83 billion, a P/E ratio of 192.10 and a beta of 0.17. The firm has a 50 day simple moving average of $82.67 and a 200-day simple moving average of $79.36. The company has a debt-to-equity ratio of 0.25, a current ratio of 5.13 and a quick ratio of 3.21.

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.