Nuveen LLC Takes Position in Loar Holdings Inc. $LOAR

Key Points

• Nuveen LLC acquired 89,171 shares of Loar Holdings Inc. for approximately $6.3 million, increasing its ownership stake to about 0.10% of the company.
• Multiple institutional investors, including Vanguard and Invesco, have increased their holdings in Loar, indicating a growing interest in the stock.
• Loar Holdings Inc. recently reported earnings exceeding expectations, with a revenue growth of 26.8% year-over-year and an anticipated EPS of 0.28 for the current year.

Nuveen LLC bought a new position in shares of Loar Holdings Inc. (NYSE:LOAR - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 89,171 shares of the company's stock, valued at approximately $6,300,000. Nuveen LLC owned about 0.10% of Loar at the end of the most recent reporting period.

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

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Morgan Stanley assumed coverage on Loar in a report on Friday, May 23rd. They issued an "overweight" rating and a $100.00 price objective on the stock. Wall Street Zen upgraded Loar from a "hold" rating to a "buy" rating in a report on Saturday, August 16th. Finally, Citigroup upped their price objective on Loar from $91.00 to $99.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat, Loar presently has an average rating of "Buy" and a consensus target price of $97.00.

Loar Trading Down 2.9%

NYSE:LOAR traded down $2.13 during trading hours on Friday, reaching $70.71. 861,300 shares of the stock were exchanged, compared to its average volume of 1,109,027. The company has a quick ratio of 4.01, a current ratio of 6.15 and a debt-to-equity ratio of 0.25. The business has a 50-day moving average of $75.43 and a two-hundred day moving average of $78.35. Loar Holdings Inc. has a twelve month low of $62.10 and a twelve month high of $99.67. The company has a market capitalization of $6.62 billion, a price-to-earnings ratio of 153.72 and a beta of 0.10.

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