Loar Holdings, LLC (NYSE:LOAR) Shares Sold by Select Equity Group L.P.

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 disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,714 shares of the company's stock after selling 9,891 shares during the period. Select Equity Group L.P.'s holdings in Loar were worth $422,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Seven Grand Managers LLC boosted its position in Loar by 10.0% during the 4th quarter. Seven Grand Managers LLC now owns 110,000 shares of the company's stock valued at $8,130,000 after acquiring an additional 10,000 shares in the last quarter. Silvercrest Asset Management Group LLC raised its position in shares of Loar by 3.0% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 37,751 shares of the company's stock worth $2,790,000 after acquiring an additional 1,100 shares in the last quarter. Rafferty Asset Management LLC lifted its stake in shares of Loar by 59.6% during the 4th quarter. Rafferty Asset Management LLC now owns 4,551 shares of the company's stock worth $336,000 after purchasing an additional 1,700 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in Loar during the fourth quarter valued at about $614,000. Finally, Polar Asset Management Partners Inc. grew its stake in Loar by 343.9% in the fourth quarter. Polar Asset Management Partners Inc. now owns 18,200 shares of the company's stock valued at $1,345,000 after purchasing an additional 14,100 shares during the last quarter.

Loar Price Performance

Shares of LOAR traded down $0.28 during trading hours on Wednesday, hitting $82.72. 1,216,851 shares of the stock were exchanged, compared to its average volume of 495,134. The stock's 50-day moving average price is $82.47 and its two-hundred day moving average price is $79.51. The company has a market cap of $7.74 billion and a price-to-earnings ratio of 217.69. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.28 and a current ratio of 3.95. Loar Holdings, LLC has a 12-month low of $50.02 and a 12-month high of $99.67.

Loar (NYSE:LOAR - Get Free Report) last announced its quarterly earnings data on Monday, March 31st. The company reported $0.11 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.11. The firm had revenue of $110.40 million during the quarter, compared to analysts' expectations of $102.51 million. Loar's quarterly revenue was up 27.8% compared to the same quarter last year. Research analysts expect that Loar Holdings, LLC will post 0.28 earnings per share for the current year.

Insider Activity

In other news, Director Paul S. Levy sold 1,168,499 shares of the business's stock in a transaction that occurred 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 sale, the director now owns 8,188,503 shares of the company's stock, valued at $662,531,777.73. The trade was a 12.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael J. Manella sold 130,744 shares of the stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $80.91, for a total transaction of $10,578,497.04. Following the completion of the sale, the insider now directly owns 449,644 shares in the company, valued at approximately $36,380,696.04. The trade was a 22.53% 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 valued at $464,655,774.

Analysts Set New Price Targets

A number of research firms have recently weighed in on LOAR. 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. Citigroup increased their price target on Loar from $91.00 to $99.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Finally, Morgan Stanley upgraded Loar from an "equal weight" rating to an "overweight" rating and set a $91.00 price target on the stock in a research note on Thursday, April 3rd.

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.