Point72 Asset Management L.P. Takes Position in Loar Holdings, LLC (NYSE:LOAR)

Point72 Asset Management L.P. bought a new position in shares of Loar Holdings, LLC (NYSE:LOAR - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 8,314 shares of the company's stock, valued at approximately $614,000.

Several other institutional investors have also bought and sold shares of the stock. Sterling Capital Management LLC raised its stake in shares of Loar by 141.5% in the fourth quarter. Sterling Capital Management LLC now owns 500 shares of the company's stock worth $37,000 after acquiring an additional 293 shares during the last quarter. Corebridge Financial Inc. boosted its holdings in shares of Loar by 174.3% in 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. Arcadia Investment Management Corp MI bought a new stake in Loar in the 4th quarter valued at $61,000. Gen Wealth Partners Inc bought a new position in Loar during the 4th quarter worth about $62,000. Finally, R Squared Ltd acquired a new stake in Loar in the 4th quarter valued at approximately $95,000.

Loar Trading Up 0.0%

NYSE:LOAR traded up $0.04 during trading hours on Wednesday, hitting $86.87. 176,195 shares of the company were exchanged, compared to its average volume of 503,607. Loar Holdings, LLC has a one year low of $50.02 and a one year high of $99.67. The company has a current ratio of 3.95, a quick ratio of 2.28 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $8.13 billion and a price-to-earnings ratio of 228.59. The company has a fifty day simple moving average of $84.04 and a 200 day simple moving average of $79.47.

Loar (NYSE:LOAR - Get Free Report) last released its earnings results on Monday, March 31st. The company reported $0.11 earnings per share for the quarter, meeting analysts' consensus estimates of $0.11. The firm had revenue of $110.40 million for the quarter, compared to analyst estimates of $102.51 million. Loar's revenue was up 27.8% on a year-over-year basis. Sell-side analysts expect that Loar Holdings, LLC will post 0.28 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on LOAR shares. Morgan Stanley started 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. Wall Street Zen raised Loar from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. Citigroup raised 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, Royal Bank of Canada reissued an "outperform" rating and issued a $92.00 price objective on shares of Loar in a research report on Tuesday, April 1st. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, Loar presently has a consensus rating of "Buy" and a consensus price target of $89.00.

Insider Buying and Selling at Loar

In related news, Director Paul S. Levy sold 175,923 shares of the stock in a transaction on Monday, May 19th. The shares were sold at an average price of $80.91, for a total transaction of $14,233,929.93. Following the transaction, the director now directly owns 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Alison Bomberg sold 690,258 shares of the firm's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $80.91, for a total transaction of $55,848,774.78. Following the completion of the sale, the director now owns 31,438,420 shares of the company's stock, valued at $2,543,682,562.20. The trade was a 2.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,742,872 shares of company stock valued at $464,655,774.

Loar Company 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.