Blackstone Inc. Sells 335,487 Shares of Loar Holdings, LLC (NYSE:LOAR)

Blackstone Inc. lowered its holdings in shares of Loar Holdings, LLC (NYSE:LOAR - Free Report) by 2.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,475,962 shares of the company's stock after selling 335,487 shares during the period. Loar makes up about 4.2% of Blackstone Inc.'s holdings, making the stock its 6th biggest position. Blackstone Inc. owned 13.91% of Loar worth $922,098,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of LOAR. Vanguard Group Inc. grew its position in shares of Loar by 132.4% during the 4th 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 during the period. TimesSquare Capital Management LLC raised its holdings in shares of Loar by 159.8% in the 4th quarter. TimesSquare Capital Management LLC now owns 1,066,525 shares of the company's stock valued at $78,827,000 after acquiring an additional 656,016 shares in the last quarter. Wasatch Advisors LP bought a new stake in Loar during the fourth quarter valued at approximately $40,347,000. Norges Bank purchased a new position in Loar in the fourth quarter worth $30,326,000. Finally, Alyeska Investment Group L.P. increased its position in shares of 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 purchasing an additional 324,700 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on LOAR shares. Morgan Stanley raised Loar from an "equal weight" rating to an "overweight" rating and set a $91.00 price target for the company in a research report on Thursday, April 3rd. Royal Bank of Canada restated an "outperform" rating and issued a $92.00 price target on shares of Loar in a research note on Tuesday, April 1st.

Loar Price Performance

Shares of NYSE:LOAR traded up $0.16 on Wednesday, reaching $97.39. The company's stock had a trading volume of 617,600 shares, compared to its average volume of 416,033. The company has a market cap of $9.11 billion and a P/E ratio of 405.77. Loar Holdings, LLC has a 52-week low of $45.13 and a 52-week high of $99.16. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.28 and a current ratio of 3.95. The company has a 50-day simple moving average of $78.06 and a 200 day simple moving average of $79.20.

Loar (NYSE:LOAR - Get Free Report) last announced its quarterly earnings data on Monday, March 31st. The company reported $0.11 earnings per share for the quarter, meeting analysts' consensus estimates of $0.11. The company had revenue of $110.40 million for the quarter, compared to the consensus estimate of $102.51 million. The company's revenue for the quarter was up 27.8% on a year-over-year basis. As a group, equities research analysts anticipate that Loar Holdings, LLC will post 0.28 EPS 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.