PDT Partners LLC Grows Position in Loar Holdings Inc. $LOAR

Key Points

• PDT Partners LLC significantly increased its stake in Loar Holdings Inc. by 137.4%, owning a total of 41,306 shares valued at approximately $2.9 million as of the end of the last quarter.
• Several hedge funds, including T. Rowe Price and BNP Paribas Financial Markets, also raised their positions in Loar, with T. Rowe Price increasing its shares by 232.6% to approximately $113 million.
• Loar's quarterly earnings topped analysts' expectations with earnings per share of $0.23, up from $0.13 the previous year, and the company has set expectations for fiscal year 2025 earnings per share between 0.830 and 0.88.

PDT Partners LLC boosted its stake in shares of Loar Holdings Inc. (NYSE:LOAR - Free Report) by 137.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 41,306 shares of the company's stock after acquiring an additional 23,907 shares during the quarter. PDT Partners LLC's holdings in Loar were worth $2,918,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Loar by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 2,735,157 shares of the company's stock worth $193,239,000 after acquiring an additional 13,832 shares during the period. T. Rowe Price Investment Management Inc. lifted its position in Loar by 232.6% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,601,485 shares of the company's stock worth $113,145,000 after acquiring an additional 1,119,958 shares during the period. Invesco Ltd. lifted its position in Loar by 38.5% during the 1st quarter. Invesco Ltd. now owns 1,179,384 shares of the company's stock worth $83,323,000 after acquiring an additional 327,888 shares during the period. Federated Hermes Inc. lifted its position in Loar by 13.8% during the 1st quarter. Federated Hermes Inc. now owns 1,136,653 shares of the company's stock worth $80,305,000 after acquiring an additional 137,920 shares during the period. Finally, Fred Alger Management LLC lifted its position in Loar by 164.0% during the 4th quarter. Fred Alger Management LLC now owns 555,366 shares of the company's stock worth $41,047,000 after acquiring an additional 345,036 shares during the period.

Wall Street Analyst Weigh In

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

Loar Price Performance

Shares of LOAR traded up $2.80 during mid-day trading on Friday, hitting $76.53. The company's stock had a trading volume of 667,451 shares, compared to its average volume of 1,108,861. The company has a current ratio of 6.15, a quick ratio of 4.01 and a debt-to-equity ratio of 0.25. The firm has a 50-day simple moving average of $74.27 and a 200 day simple moving average of $78.38. The firm has a market capitalization of $7.16 billion, a P/E ratio of 166.36 and a beta of 0.09. Loar Holdings Inc. has a 1-year low of $62.10 and a 1-year high of $99.67.

Loar (NYSE:LOAR - Get Free Report) last posted its quarterly earnings results on Wednesday, August 13th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.19 by $0.04. Loar had a return on equity of 5.50% and a net margin of 9.82%.The business had revenue of $123.12 million during the quarter, compared to analysts' expectations of $122.17 million. During the same period last year, the firm earned $0.13 EPS. The company's quarterly 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. Analysts predict that Loar Holdings Inc. will post 0.28 EPS for the current fiscal year.

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.