36,300 Shares in Loar Holdings Inc. $LOAR Bought by Swiss National Bank

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 acquired a new position in shares of Loar Holdings Inc. (NYSE:LOAR - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 36,300 shares of the company's stock, valued at approximately $2,565,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Amalgamated Bank lifted 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 purchasing an additional 261 shares during the period. GAMMA Investing LLC raised its holdings in shares of Loar by 204.9% in the 1st quarter. GAMMA Investing LLC now owns 372 shares of the company's stock worth $26,000 after buying an additional 250 shares in the last quarter. Arizona State Retirement System bought a new position in shares of Loar during the 1st quarter worth approximately $378,000. Fortress Investment Group LLC acquired a new stake in Loar in the 4th quarter valued at $739,000. Finally, Polar Asset Management Partners Inc. raised its stake in Loar by 343.9% during the fourth quarter. Polar Asset Management Partners Inc. now owns 18,200 shares of the company's stock worth $1,345,000 after acquiring an additional 14,100 shares in the last quarter.

Loar Trading Up 1.0%

Shares of LOAR traded up $0.70 on Wednesday, reaching $73.15. 481,588 shares of the company's stock were exchanged, compared to its average volume of 835,995. The business has a 50 day moving average price of $76.00 and a two-hundred day moving average price of $78.37. Loar Holdings Inc. has a 12 month low of $62.10 and a 12 month high of $99.67. The stock has a market capitalization of $6.85 billion, a P/E ratio of 159.29 and a beta of 0.11. The company has a current ratio of 6.15, a quick ratio of 4.01 and a debt-to-equity ratio of 0.25.

Loar (NYSE:LOAR - Get Free Report) last released its earnings results on Wednesday, August 13th. The company reported $0.23 EPS for the quarter, topping analysts' consensus estimates of $0.19 by $0.04. Loar had a net margin of 9.82% and a return on equity of 5.50%. The firm had revenue of $123.12 million during the quarter, compared to analyst estimates of $122.17 million. During the same quarter in the previous year, the business earned $0.13 EPS. The business'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. Research analysts anticipate that Loar Holdings Inc. will post 0.28 earnings per share for the current year.

Wall Street Analyst Weigh In

LOAR has been the topic of several analyst reports. Citigroup upped their target price 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 assumed coverage on Loar in a report on Friday, May 23rd. They issued an "overweight" rating and a $100.00 target price on the stock. Finally, Wall Street Zen raised Loar from a "hold" rating to a "buy" rating in a report on Saturday, August 16th. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat, Loar currently has a consensus rating of "Buy" and an average price target of $97.00.

Loar Company 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.