Swiss National Bank Invests $2.57 Million in Loar Holdings Inc. $LOAR

Key Points

• The Swiss National Bank acquired 36,300 shares of Loar Holdings Inc., worth approximately $2.57 million, in the first quarter.
• Several institutional investors significantly increased their holdings in Loar, including Wells Fargo and Legal & General Group Plc, indicating growing institutional interest in the company.
• Wall Street analysts have rated Loar with an average rating of "Buy" and set a price target of around $97.00, reflecting positive market sentiment towards the stock.

Swiss National Bank bought a new position in Loar Holdings Inc. (NYSE:LOAR - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 36,300 shares of the company's stock, valued at approximately $2,565,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LOAR. LPL Financial LLC purchased a new position in shares of Loar in the 4th quarter worth about $349,000. Wells Fargo & Company MN boosted its holdings in shares of Loar by 179.9% in the 4th quarter. Wells Fargo & Company MN now owns 6,536 shares of the company's stock worth $483,000 after buying an additional 4,201 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Loar by 16.5% in the 4th quarter. Envestnet Asset Management Inc. now owns 17,559 shares of the company's stock worth $1,298,000 after buying an additional 2,484 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Loar by 194.0% in the 4th quarter. Legal & General Group Plc now owns 3,084 shares of the company's stock worth $228,000 after buying an additional 2,035 shares during the last quarter. Finally, Sterling Capital Management LLC boosted its holdings in shares of Loar by 141.5% in the 4th quarter. Sterling Capital Management LLC now owns 500 shares of the company's stock worth $37,000 after buying an additional 293 shares during the last quarter.

Analyst Ratings Changes

LOAR has been the topic of a number of research analyst reports. Citigroup boosted their price target on shares of Loar from $91.00 to $99.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Morgan Stanley initiated coverage on shares of Loar in a report on Friday, May 23rd. They issued an "overweight" rating and a $100.00 price target on the stock. Finally, Wall Street Zen raised shares of Loar from a "hold" rating to a "buy" rating in a report on Saturday, August 16th. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $97.00.

Loar Stock Performance

NYSE LOAR traded down $0.43 during trading on Thursday, hitting $72.99. 1,185,876 shares of the company's stock traded hands, compared to its average volume of 1,080,372. The stock has a market capitalization of $6.83 billion, a price-to-earnings ratio of 158.67 and a beta of 0.11. Loar Holdings Inc. has a 12-month low of $62.10 and a 12-month high of $99.67. The company has a debt-to-equity ratio of 0.25, a quick ratio of 4.01 and a current ratio of 6.15. The business has a 50 day moving average of $75.64 and a 200-day moving average of $78.30.

Loar (NYSE:LOAR - Get Free Report) last released its quarterly earnings data on Wednesday, August 13th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.19 by $0.04. The business had revenue of $123.12 million for the quarter, compared to the consensus estimate of $122.17 million. Loar had a net margin of 9.82% and a return on equity of 5.50%. The company's revenue was up 26.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.13 earnings per share. Loar has set its FY 2025 guidance at 0.830-0.88 EPS. As a group, equities research analysts anticipate that Loar Holdings Inc. will post 0.28 earnings per share for the current fiscal 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.