Public Employees Retirement System of Ohio Buys 36,463 Shares of Loar Holdings, LLC (NYSE:LOAR)

Public Employees Retirement System of Ohio boosted its holdings in shares of Loar Holdings, LLC (NYSE:LOAR - Free Report) by 950.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 40,299 shares of the company's stock after buying an additional 36,463 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Loar were worth $2,978,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of LOAR. R Squared Ltd bought a new position in shares of Loar during the 4th quarter worth approximately $95,000. Renaissance Capital LLC boosted its position in Loar by 411.5% during the fourth quarter. Renaissance Capital LLC now owns 58,275 shares of the company's stock worth $4,307,000 after purchasing an additional 46,883 shares during the period. Entropy Technologies LP acquired a new position in shares of Loar in the fourth quarter valued at $222,000. Legato Capital Management LLC raised its position in shares of Loar by 123.9% in the fourth quarter. Legato Capital Management LLC now owns 13,604 shares of the company's stock valued at $1,005,000 after purchasing an additional 7,528 shares during the period. Finally, Rhumbline Advisers lifted its stake in shares of Loar by 149.9% during the 4th quarter. Rhumbline Advisers now owns 26,762 shares of the company's stock worth $1,978,000 after buying an additional 16,055 shares during the last quarter.

Insider Activity

In related news, insider Michael J. Manella sold 130,744 shares of the firm's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $80.91, for a total value of $10,578,497.04. Following the sale, the insider now directly owns 449,644 shares of the company's stock, valued at $36,380,696.04. This trade represents a 22.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Paul S. Levy sold 175,923 shares of the business's stock in a transaction dated 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 transaction, the director now directly owns 8,012,580 shares of the company's stock, valued at approximately $648,297,847.80. The trade was a 2.15% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,742,872 shares of company stock worth $464,655,774.

Loar Stock Performance

Shares of LOAR traded down $0.37 during mid-day trading on Tuesday, hitting $87.71. 382,578 shares of the company's stock were exchanged, compared to its average volume of 516,834. The company has a quick ratio of 2.28, a current ratio of 3.95 and a debt-to-equity ratio of 0.78. Loar Holdings, LLC has a 52 week low of $51.50 and a 52 week high of $99.67. The stock's 50-day simple moving average is $85.67 and its 200-day simple moving average is $79.51. The firm has a market cap of $8.21 billion and a price-to-earnings ratio of 230.82.

Loar (NYSE:LOAR - Get Free Report) last issued its quarterly earnings results on Monday, March 31st. The company reported $0.11 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.11. The company had revenue of $110.40 million for the quarter, compared to analyst estimates of $102.51 million. Loar's quarterly revenue was up 27.8% compared to the same quarter last year. On average, equities research analysts expect that Loar Holdings, LLC will post 0.28 EPS for the current year.

Wall Street Analysts Forecast Growth

LOAR has been the topic of several research analyst reports. Citigroup increased their price target on shares of Loar from $91.00 to $99.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Royal Bank of Canada reissued an "outperform" rating and set a $92.00 price target on shares of Loar in a report on Tuesday, April 1st. Morgan Stanley assumed coverage on Loar in a research note on Friday, May 23rd. They issued an "overweight" rating and a $100.00 price target for the company. Finally, Wall Street Zen upgraded Loar from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Loar presently has a consensus rating of "Buy" and a consensus target price of $89.00.

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.