T. Rowe Price Investment Management Inc. Grows Stock Holdings in Loar Holdings Inc. $LOAR

Key Points

• T. Rowe Price Investment Management Inc. significantly increased its holdings in Loar Holdings Inc. by 232.6% in the first quarter, now owning approximately 1.71% of the company's stock valued at $113.1 million.
• Caitong International Asset Management Co. Ltd boosted its position by an astounding 5,286.7%, while other firms like Nuveen LLC and Invesco Ltd also made notable investments in Loar Holdings during the same quarter.
• Loar Holdings reported earnings of $0.23 per share for the last quarter, exceeding analysts' estimates, with a projected FY 2025 EPS guidance of 0.830-0.880.

T. Rowe Price Investment Management Inc. increased its holdings in Loar Holdings Inc. (NYSE:LOAR - Free Report) by 232.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,601,485 shares of the company's stock after buying an additional 1,119,958 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 1.71% of Loar worth $113,145,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of LOAR. GAMMA Investing LLC raised its stake in shares of Loar by 204.9% in the first quarter. GAMMA Investing LLC now owns 372 shares of the company's stock valued at $26,000 after acquiring an additional 250 shares during the last quarter. Sterling Capital Management LLC grew its position in shares of Loar by 141.5% during the 4th quarter. Sterling Capital Management LLC now owns 500 shares of the company's stock worth $37,000 after purchasing an additional 293 shares in the last quarter. State of Wyoming acquired a new stake in Loar in the fourth quarter valued at approximately $53,000. Caitong International Asset Management Co. Ltd boosted its position in Loar by 5,286.7% in the first quarter. Caitong International Asset Management Co. Ltd now owns 808 shares of the company's stock valued at $57,000 after buying an additional 793 shares in the last quarter. Finally, Gen Wealth Partners Inc acquired a new position in shares of Loar during the fourth quarter worth $62,000.

Loar Trading Up 0.2%

Loar stock traded up $0.15 during trading on Wednesday, hitting $72.60. The company's stock had a trading volume of 289,354 shares, compared to its average volume of 834,831. Loar Holdings Inc. has a 1-year low of $62.10 and a 1-year high of $99.67. The stock has a market capitalization of $6.80 billion, a price-to-earnings ratio of 157.75 and a beta of 0.11. 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 stock's fifty day moving average is $76.00 and its 200 day moving average is $78.37.

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 the consensus estimate 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 the consensus estimate of $122.17 million. During the same period last year, the firm earned $0.13 earnings per share. The company's revenue was up 26.8% on a year-over-year basis. Loar has set its FY 2025 guidance at 0.830-0.88 EPS. As a group, equities research analysts predict that Loar Holdings Inc. will post 0.28 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Wall Street Zen raised shares of Loar from a "hold" rating to a "buy" rating in a research report on Saturday, August 16th. Morgan Stanley began coverage on shares of Loar in a report on Friday, May 23rd. They issued an "overweight" rating and a $100.00 price objective for the company. Finally, Citigroup upped their target price on shares of Loar from $91.00 to $99.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Three research analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average 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.