TD Asset Management Inc Sells 11,468 Shares of Loar Holdings Inc. $LOAR

Key Points

• TD Asset Management Inc reduced its stake in Loar Holdings Inc by 25.7% during Q2, selling 11,468 shares and holding 33,108 shares worth approximately $2.85 million.
• Loar Holdings received mixed ratings from analysts, with Weiss Ratings maintaining a "hold (c-)" rating, while Zacks upgraded it to a "strong-buy" and the consensus now stands at "buy" with an average price target of $97.00.
• The company reported a 26.8% year-over-year increase in quarterly revenue, reaching $123.12 million and achieving earnings per share of $0.23, surpassing analysts' expectations.

TD Asset Management Inc lessened its stake in Loar Holdings Inc. (NYSE:LOAR - Free Report) by 25.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,108 shares of the company's stock after selling 11,468 shares during the period. TD Asset Management Inc's holdings in Loar were worth $2,853,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Universal Beteiligungs und Servicegesellschaft mbH grew its stake in Loar by 0.3% in the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 40,436 shares of the company's stock worth $2,857,000 after acquiring an additional 139 shares in the last quarter. Huntleigh Advisors Inc. raised its stake in shares of Loar by 1.6% during the first quarter. Huntleigh Advisors Inc. now owns 11,477 shares of the company's stock valued at $811,000 after acquiring an additional 182 shares in the last quarter. GAMMA Investing LLC boosted its holdings 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 purchasing an additional 250 shares during the period. Amalgamated Bank boosted its holdings in shares of Loar by 13.1% in the first quarter. Amalgamated Bank now owns 2,261 shares of the company's stock valued at $160,000 after purchasing an additional 261 shares during the period. Finally, MetLife Investment Management LLC grew its stake in Loar by 16.1% in the first quarter. MetLife Investment Management LLC now owns 2,014 shares of the company's stock worth $142,000 after purchasing an additional 279 shares in the last quarter.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Loar in a research report on Wednesday, October 8th. Zacks Research upgraded Loar from a "hold" rating to a "strong-buy" rating in a research note on Thursday, October 16th. Finally, Wall Street Zen raised shares of Loar from a "hold" rating to a "buy" rating in a research note on Saturday, August 16th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $97.00.

Loar Trading Up 2.6%

NYSE:LOAR opened at $81.84 on Tuesday. The company has a market capitalization of $7.66 billion, a P/E ratio of 177.92 and a beta of 0.21. 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 Holdings Inc. has a 12 month low of $62.10 and a 12 month high of $99.67. The firm has a fifty day simple moving average of $76.41 and a 200-day simple moving average of $80.91.

Loar (NYSE:LOAR - Get Free Report) last issued its earnings results on Wednesday, August 13th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.19 by $0.04. The company had revenue of $123.12 million during the quarter, compared to analyst estimates of $122.17 million. Loar had a return on equity of 5.50% and a net margin of 9.82%.The firm's quarterly revenue was up 26.8% on a year-over-year basis. During the same quarter last year, the business posted $0.13 EPS. Loar has set its FY 2025 guidance at 0.830-0.88 EPS. On average, equities research analysts anticipate that Loar Holdings Inc. will post 0.28 earnings per share for the current year.

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.

Want to see what other hedge funds are holding LOAR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Loar Holdings Inc. (NYSE:LOAR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.