40,883 Shares in Loar Holdings Inc. $LOAR Acquired by Thrive Wealth Management LLC

Key Points

• Thrive Wealth Management LLC has acquired a new position in Loar Holdings Inc. (NYSE: LOAR), purchasing 40,883 shares worth approximately $3.5 million, making it the firm's 24th largest holding.
• Loar Holdings recently reported a 26.8% increase in quarterly revenue year-over-year, alongside earnings per share of $0.23, surpassing analyst expectations.
• Several large investors have increased their stakes in Loar, including T. Rowe Price, which raised its position by 232.6% during the first quarter.

Thrive Wealth Management LLC bought a new stake in Loar Holdings Inc. (NYSE:LOAR - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 40,883 shares of the company's stock, valued at approximately $3,523,000. Loar accounts for 0.6% of Thrive Wealth Management LLC's investment portfolio, making the stock its 24th biggest holding.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Northern Trust Corp boosted its holdings in Loar by 132.5% in the fourth quarter. Northern Trust Corp now owns 100,579 shares of the company's stock worth $7,434,000 after acquiring an additional 57,317 shares in the last quarter. Bank of America Corp DE boosted its holdings in Loar by 83.2% in the fourth quarter. Bank of America Corp DE now owns 40,739 shares of the company's stock worth $3,011,000 after acquiring an additional 18,503 shares in the last quarter. Nuveen Asset Management LLC boosted its holdings in Loar by 240.1% in the fourth quarter. Nuveen Asset Management LLC now owns 60,811 shares of the company's stock worth $4,495,000 after acquiring an additional 42,933 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Loar in the fourth quarter worth $614,000. Finally, Rafferty Asset Management LLC raised its stake in shares of Loar by 59.6% in the fourth 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.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Loar from a "hold" rating to a "buy" rating in a research note on Saturday, August 16th. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of "Buy" and a consensus target price of $97.00.

Loar Trading Down 1.6%

Shares of LOAR traded down $1.31 during mid-day trading on Friday, reaching $80.01. 1,833,319 shares of the company's stock traded hands, compared to its average volume of 891,937. The stock has a market cap of $7.49 billion, a P/E ratio of 173.94 and a beta of 0.09. The stock's 50-day moving average is $73.86 and its two-hundred day moving average is $79.09. 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 current ratio of 6.15 and a quick ratio of 4.01.

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