Rhumbline Advisers Purchases 7,188 Shares of Loar Holdings Inc. (NYSE:LOAR)

Rhumbline Advisers grew its position in shares of Loar Holdings Inc. (NYSE:LOAR - Free Report) by 26.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 33,950 shares of the company's stock after acquiring an additional 7,188 shares during the quarter. Rhumbline Advisers' holdings in Loar were worth $2,399,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. CIBC Asset Management Inc acquired a new stake in shares of Loar in the 4th quarter valued at approximately $201,000. New York State Common Retirement Fund boosted its holdings in shares of Loar by 14.1% in the 4th quarter. New York State Common Retirement Fund now owns 101,802 shares of the company's stock valued at $7,524,000 after buying an additional 12,592 shares during the last quarter. TimesSquare Capital Management LLC boosted its holdings in shares of Loar by 159.8% in the 4th quarter. TimesSquare Capital Management LLC now owns 1,066,525 shares of the company's stock valued at $78,827,000 after buying an additional 656,016 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new stake in shares of Loar in the 4th quarter valued at approximately $61,000. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Loar by 210.2% in the 4th quarter. Bank of New York Mellon Corp now owns 83,191 shares of the company's stock valued at $6,149,000 after buying an additional 56,371 shares during the last quarter.

Insider Activity

In related news, Director Paul S. Levy sold 1,168,499 shares of the company'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 $94,543,254.09. Following the completion of the sale, the director now owns 8,188,503 shares in the company, valued at approximately $662,531,777.73. This represents a 12.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Michael J. Manella sold 130,744 shares of the company's stock in a transaction on 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 owns 449,644 shares of the company's stock, valued at $36,380,696.04. This trade represents a 22.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,742,872 shares of company stock worth $464,655,774 over the last quarter. 22.60% of the stock is currently owned by corporate insiders.

Loar Trading Up 1.6%

Shares of Loar stock traded up $1.30 during midday trading on Wednesday, reaching $82.34. The company had a trading volume of 1,093,032 shares, compared to its average volume of 557,826. The stock has a fifty day moving average price of $88.40 and a 200 day moving average price of $79.35. The company has a debt-to-equity ratio of 0.25, a current ratio of 5.13 and a quick ratio of 3.21. The firm has a market cap of $7.70 billion, a PE ratio of 216.70 and a beta of 0.32. Loar Holdings Inc. has a fifty-two week low of $51.50 and a fifty-two week high of $99.67.

Loar (NYSE:LOAR - Get Free Report) last issued its earnings results on Monday, March 31st. The company reported $0.11 earnings per share for the quarter, hitting analysts' consensus estimates of $0.11. The business had revenue of $110.40 million during the quarter, compared to the consensus estimate of $102.51 million. Loar had a return on equity of 5.23% and a net margin of 8.29%. Loar's revenue was up 27.8% on a year-over-year basis. On average, equities analysts anticipate that Loar Holdings Inc. will post 0.28 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Wall Street Zen cut Loar from a "buy" rating to a "hold" rating in a research note on Saturday. Royal Bank Of Canada reiterated an "outperform" rating and set a $92.00 price objective on shares of Loar in a research report on Tuesday, April 1st. 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. Finally, Morgan Stanley assumed coverage on Loar in a research report on Friday, May 23rd. They set an "overweight" rating and a $100.00 price objective on the stock.

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.