Select Equity Group L.P. Buys 15,979 Shares of Loar Holdings Inc. $LOAR

Select Equity Group L.P. increased its position in Loar Holdings Inc. (NYSE:LOAR - Free Report) by 279.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,693 shares of the company's stock after purchasing an additional 15,979 shares during the quarter. Select Equity Group L.P.'s holdings in Loar were worth $1,533,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LOAR. Universal Beteiligungs und Servicegesellschaft mbH raised its stake in Loar by 0.3% during the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 40,436 shares of the company's stock worth $2,857,000 after acquiring an additional 139 shares in the last quarter. Huntleigh Advisors Inc. raised its stake in Loar by 1.6% during the first quarter. Huntleigh Advisors Inc. now owns 11,477 shares of the company's stock worth $811,000 after acquiring an additional 182 shares in the last quarter. GAMMA Investing LLC raised its stake in Loar by 204.9% during the first quarter. GAMMA Investing LLC now owns 372 shares of the company's stock worth $26,000 after acquiring an additional 250 shares in the last quarter. Amalgamated Bank raised its stake in Loar by 13.1% during the first quarter. Amalgamated Bank now owns 2,261 shares of the company's stock worth $160,000 after acquiring an additional 261 shares in the last quarter. Finally, MetLife Investment Management LLC raised its stake in Loar by 16.1% during the first quarter. MetLife Investment Management LLC now owns 2,014 shares of the company's stock worth $142,000 after acquiring an additional 279 shares in the last quarter.

Loar Price Performance

Shares of NYSE:LOAR traded down $2.91 during midday trading on Friday, reaching $76.54. The company's stock had a trading volume of 894,825 shares, compared to its average volume of 986,268. Loar Holdings Inc. has a fifty-two week low of $62.10 and a fifty-two week high of $99.67. The company has a market capitalization of $7.17 billion, a P/E ratio of 166.39 and a beta of 0.09. The company has a debt-to-equity ratio of 0.25, a current ratio of 6.15 and a quick ratio of 4.01. The business's fifty day simple moving average is $73.86 and its 200-day simple moving average is $78.78.

Loar (NYSE:LOAR - Get Free Report) last announced its earnings results on Wednesday, August 13th. The company reported $0.23 earnings per share for the quarter, beating analysts' consensus estimates of $0.19 by $0.04. Loar had a return on equity of 5.50% and a net margin of 9.82%.The company had revenue of $123.12 million during the quarter, compared to analyst estimates of $122.17 million. During the same period last year, the company posted $0.13 earnings per share. The firm'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. As a group, equities research analysts expect that Loar Holdings Inc. will post 0.28 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have issued reports on LOAR. Wall Street Zen upgraded Loar from a "hold" rating to a "buy" rating in a research note on Saturday, August 16th. Morgan Stanley began coverage on Loar in a research note on Friday, May 23rd. They set an "overweight" rating and a $100.00 price objective for the company. Three research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $97.00.

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.