TimesSquare Capital Management LLC Sells 73,022 Shares of Loar Holdings Inc. (NYSE:LOAR)

TimesSquare Capital Management LLC lowered its stake in Loar Holdings Inc. (NYSE:LOAR - Free Report) by 6.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 993,503 shares of the company's stock after selling 73,022 shares during the quarter. Loar accounts for 1.1% of TimesSquare Capital Management LLC's portfolio, making the stock its 26th biggest position. TimesSquare Capital Management LLC owned 1.06% of Loar worth $70,191,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in LOAR. Vanguard Group Inc. boosted its holdings in Loar by 132.4% in the fourth quarter. Vanguard Group Inc. now owns 2,721,325 shares of the company's stock valued at $201,133,000 after acquiring an additional 1,550,581 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Loar by 4.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,142,073 shares of the company's stock worth $84,411,000 after buying an additional 50,287 shares in the last quarter. Federated Hermes Inc. lifted its holdings in Loar by 29.7% in the fourth quarter. Federated Hermes Inc. now owns 998,733 shares of the company's stock worth $73,816,000 after buying an additional 228,477 shares during the period. Invesco Ltd. lifted its holdings in Loar by 32.2% in the fourth quarter. Invesco Ltd. now owns 851,496 shares of the company's stock worth $62,934,000 after buying an additional 207,255 shares during the period. Finally, Alyeska Investment Group L.P. boosted its position in Loar by 99.8% during the 4th quarter. Alyeska Investment Group L.P. now owns 650,000 shares of the company's stock valued at $48,042,000 after acquiring an additional 324,700 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Citigroup raised their target price on Loar from $91.00 to $99.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Wall Street Zen upgraded shares of Loar from a "hold" rating to a "buy" rating in a report on Sunday, June 22nd. Morgan Stanley started coverage on shares of Loar in a research report on Friday, May 23rd. They issued an "overweight" rating and a $100.00 target price on the stock. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a $92.00 price objective on shares of Loar in a research note on Tuesday, April 1st.

Loar Stock Up 3.1%

Loar stock traded up $2.34 during mid-day trading on Thursday, reaching $78.18. The stock had a trading volume of 798,557 shares, compared to its average volume of 604,399. The company has a market capitalization of $7.31 billion, a price-to-earnings ratio of 205.75 and a beta of 0.17. The company has a debt-to-equity ratio of 0.25, a current ratio of 5.13 and a quick ratio of 3.21. Loar Holdings Inc. has a one year low of $52.26 and a one year high of $99.67. The company has a 50-day moving average price of $84.35 and a two-hundred day moving average price of $79.38.

Insider Activity at Loar

In other Loar news, Director Paul S. Levy sold 175,923 shares of the business's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $80.91, for a total value of $14,233,929.93. Following the completion of the transaction, the director owned 8,012,580 shares of the company's stock, valued at approximately $648,297,847.80. The trade was a 2.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael J. Manella sold 19,684 shares of the firm's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $80.91, for a total transaction of $1,592,632.44. Following the sale, the insider directly owned 429,960 shares in the company, valued at approximately $34,788,063.60. The trade was a 4.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,742,872 shares of company stock valued at $464,655,774 over the last ninety days. Corporate insiders own 22.60% of the company's stock.

Loar 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.