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

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

A number of other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC increased its stake in Loar by 204.9% in the 1st quarter. GAMMA Investing LLC now owns 372 shares of the company's stock worth $26,000 after purchasing an additional 250 shares during the period. Sterling Capital Management LLC increased its stake in shares of Loar by 141.5% during the fourth quarter. Sterling Capital Management LLC now owns 500 shares of the company's stock valued at $37,000 after buying an additional 293 shares during the period. Corebridge Financial Inc. increased its stake in shares of Loar by 174.3% during the fourth quarter. Corebridge Financial Inc. now owns 524 shares of the company's stock valued at $39,000 after buying an additional 333 shares during the period. State of Wyoming purchased a new position in shares of Loar during the fourth quarter valued at approximately $53,000. Finally, Gen Wealth Partners Inc purchased a new position in shares of Loar during the fourth quarter valued at approximately $62,000.

Loar Price Performance

Loar stock traded down $1.18 during midday trading on Tuesday, reaching $74.16. 586,741 shares of the stock traded hands, compared to its average volume of 607,310. The stock's fifty day moving average is $83.47 and its 200-day moving average is $79.46. Loar Holdings Inc. has a 12 month low of $52.26 and a 12 month high of $99.67. The stock has a market cap of $6.94 billion, a P/E ratio of 195.16 and a beta of 0.17. The company has a quick ratio of 3.21, a current ratio of 5.13 and a debt-to-equity ratio of 0.25.

Wall Street Analyst Weigh In

LOAR has been the topic of several research reports. Morgan Stanley initiated coverage on Loar in a research report on Friday, May 23rd. They set an "overweight" rating and a $100.00 price target on the stock. Royal Bank Of Canada reissued an "outperform" rating and issued a $92.00 target price on shares of Loar in a report on Tuesday, April 1st. Citigroup upped their price target on Loar from $91.00 to $99.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Finally, Wall Street Zen downgraded Loar from a "buy" rating to a "hold" rating in a report on Friday.

Insiders Place Their Bets

In related news, insider Dirkson R. Charles sold 88,767 shares of the firm's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $80.91, for a total transaction of $7,182,137.97. Following the completion of the sale, the insider directly owned 4,043,005 shares of the company's stock, valued at approximately $327,119,534.55. This trade represents a 2.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paul S. Levy sold 175,923 shares of the firm's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $80.91, for a total value of $14,233,929.93. Following the sale, the director directly owned 8,012,580 shares of the company's stock, valued at $648,297,847.80. This represents a 2.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,742,872 shares of company stock worth $464,655,774. 22.60% of the stock is currently owned by company insiders.

About Loar

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.