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

A number of other large investors have also recently made changes to their positions in the stock. Royal Bank of Canada boosted its stake in shares of Loar by 7.6% during the first quarter. Royal Bank of Canada now owns 15,310 shares of the company's stock valued at $1,082,000 after purchasing an additional 1,081 shares during the period. Kingdon Capital Management L.L.C. boosted its stake in shares of Loar by 33.3% during the first quarter. Kingdon Capital Management L.L.C. now owns 100,000 shares of the company's stock valued at $7,065,000 after purchasing an additional 25,000 shares during the period. Driehaus Capital Management LLC boosted its stake in shares of Loar by 2.8% during the first quarter. Driehaus Capital Management LLC now owns 350,741 shares of the company's stock valued at $24,780,000 after purchasing an additional 9,597 shares during the period. MetLife Investment Management LLC boosted its stake in shares of Loar by 16.1% during the first quarter. MetLife Investment Management LLC now owns 2,014 shares of the company's stock valued at $142,000 after purchasing an additional 279 shares during the period. Finally, Jump Financial LLC purchased a new stake in shares of Loar during the first quarter valued at $219,000.

Wall Street Analyst Weigh In

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

Loar Stock Up 3.8%

Shares of LOAR stock traded up $2.80 during mid-day trading on Friday, hitting $76.53. 667,451 shares of the stock traded hands, compared to its average volume of 1,095,917. The stock has a market cap of $7.16 billion, a P/E ratio of 166.36 and a beta of 0.10. The stock's fifty day moving average is $74.27 and its two-hundred day moving average is $78.50. Loar Holdings Inc. has a 52-week low of $62.10 and a 52-week high of $99.67. 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 (NYSE:LOAR - Get Free Report) last released 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. The business had revenue of $123.12 million during the quarter, compared to analyst estimates of $122.17 million. Loar had a net margin of 9.82% and a return on equity of 5.50%. The company's quarterly revenue was up 26.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.13 earnings per share. Loar has set its FY 2025 guidance at 0.830-0.88 EPS. 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.