Select Equity Group L.P. Has $422,000 Stake in Loar Holdings, LLC (NYSE:LOAR)

Select Equity Group L.P. lowered its position in Loar Holdings, LLC (NYSE:LOAR - Free Report) by 63.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 5,714 shares of the company's stock after selling 9,891 shares during the quarter. Select Equity Group L.P.'s holdings in Loar were worth $422,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Fortress Investment Group LLC bought a new stake in Loar during the fourth quarter valued at approximately $739,000. M&T Bank Corp purchased a new stake in Loar during the 4th quarter valued at $306,000. Treasurer of the State of North Carolina increased its position in shares of Loar by 187.2% during the fourth quarter. Treasurer of the State of North Carolina now owns 13,240 shares of the company's stock valued at $979,000 after buying an additional 8,630 shares during the period. Soros Fund Management LLC increased its stake in shares of Loar by 12.5% in the 4th quarter. Soros Fund Management LLC now owns 225,000 shares of the company's stock worth $16,630,000 after acquiring an additional 25,000 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in Loar in the fourth quarter worth $1,585,000.

Analyst Ratings Changes

LOAR has been the subject of several recent research reports. Citigroup boosted their target price on shares of Loar from $91.00 to $99.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Wall Street Zen upgraded Loar from a "hold" rating to a "buy" rating in a research note on Thursday. Royal Bank of Canada reiterated an "outperform" rating and issued a $92.00 target price on shares of Loar in a research report on Tuesday, April 1st. Finally, Morgan Stanley started coverage on Loar in a research note on Friday. They issued an "overweight" rating and a $100.00 price target for the company. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, Loar presently has an average rating of "Buy" and a consensus target price of $89.00.

Insider Activity

In other news, Director Raja Bobbili sold 690,258 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $80.91, for a total value of $55,848,774.78. Following the completion of the transaction, the director now directly owns 31,438,420 shares in the company, valued at $2,543,682,562.20. This trade represents a 2.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director David C. Abrams sold 703,691 shares of the company's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $80.91, for a total value of $56,935,638.81. Following the sale, the director now directly owns 32,050,240 shares of the company's stock, valued at approximately $2,593,184,918.40. This represents a 2.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,742,872 shares of company stock worth $464,655,774.

Loar Stock Performance

LOAR traded down $0.55 during trading on Friday, hitting $83.77. 185,788 shares of the stock were exchanged, compared to its average volume of 497,231. The stock has a fifty day moving average price of $82.81 and a two-hundred day moving average price of $79.49. Loar Holdings, LLC has a 1-year low of $50.02 and a 1-year high of $99.67. The firm has a market capitalization of $7.84 billion and a P/E ratio of 220.74. 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 (NYSE:LOAR - Get Free Report) last posted its quarterly earnings results on Monday, March 31st. The company reported $0.11 EPS for the quarter, meeting the consensus estimate of $0.11. The business had revenue of $110.40 million during the quarter, compared to analysts' expectations of $102.51 million. The business's revenue for the quarter was up 27.8% compared to the same quarter last year. As a group, sell-side analysts predict that Loar Holdings, LLC will post 0.28 earnings per share for the current year.

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.