Loar Holdings Inc. $LOAR Shares Acquired by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. has increased its holdings in Loar Holdings Inc. by 0.5%, bringing its total shares to approximately 2.92% of the company, valued at around $193.24 million.
• Loar reported a quarterly earnings per share (EPS) of $0.23, exceeding analyst expectations, and its revenue increased by 26.8% year-over-year to $123.12 million.
• Analysts have a consensus rating of "Buy" on Loar, with a target price set at $97.00, reflecting positive sentiment following recent upgrades from multiple research firms.

Vanguard Group Inc. grew its position in shares of Loar Holdings Inc. (NYSE:LOAR - Free Report) by 0.5% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,735,157 shares of the company's stock after buying an additional 13,832 shares during the quarter. Vanguard Group Inc. owned 2.92% of Loar worth $193,239,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. LPL Financial LLC purchased a new position in shares of Loar in the 4th quarter valued at about $349,000. Wells Fargo & Company MN increased its holdings in shares of Loar by 179.9% in the 4th quarter. Wells Fargo & Company MN now owns 6,536 shares of the company's stock valued at $483,000 after purchasing an additional 4,201 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Loar by 16.5% in the 4th quarter. Envestnet Asset Management Inc. now owns 17,559 shares of the company's stock valued at $1,298,000 after purchasing an additional 2,484 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of Loar by 194.0% in the 4th quarter. Legal & General Group Plc now owns 3,084 shares of the company's stock valued at $228,000 after purchasing an additional 2,035 shares in the last quarter. Finally, Sterling Capital Management LLC increased its holdings in shares of Loar by 141.5% in the 4th quarter. Sterling Capital Management LLC now owns 500 shares of the company's stock valued at $37,000 after purchasing an additional 293 shares in the last quarter.

Loar Trading Down 2.1%

Shares of NYSE LOAR traded down $1.5320 during midday trading on Monday, reaching $70.8880. 1,116,195 shares of the stock were exchanged, compared to its average volume of 1,047,496. The company has a market capitalization of $6.64 billion, a P/E ratio of 154.11 and a beta of 0.11. Loar Holdings Inc. has a 52-week low of $62.10 and a 52-week high of $99.67. The company has a current ratio of 6.15, a quick ratio of 4.01 and a debt-to-equity ratio of 0.25. The stock has a 50 day moving average price of $76.17 and a 200-day moving average price of $78.41.

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

Analyst Upgrades and Downgrades

LOAR has been the topic of a number of research reports. Wall Street Zen raised shares of Loar from a "hold" rating to a "buy" rating in a research note on Saturday, August 16th. Citigroup increased their price objective on shares of Loar from $91.00 to $99.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Finally, Morgan Stanley initiated coverage on shares of Loar in a research note on Friday, May 23rd. They issued an "overweight" rating and a $100.00 price objective on the stock. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $97.00.

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.