Tower Research Capital LLC TRC Sells 3,907 Shares of Loar Holdings, LLC (NYSE:LOAR)

Tower Research Capital LLC TRC reduced its position in shares of Loar Holdings, LLC (NYSE:LOAR - Free Report) by 62.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,394 shares of the company's stock after selling 3,907 shares during the period. Tower Research Capital LLC TRC's holdings in Loar were worth $177,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Loar by 132.4% during the fourth quarter. Vanguard Group Inc. now owns 2,721,325 shares of the company's stock valued at $201,133,000 after purchasing an additional 1,550,581 shares during the last quarter. TimesSquare Capital Management LLC increased its stake 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 buying an additional 656,016 shares during the period. Wasatch Advisors LP bought a new stake in shares of Loar during the fourth quarter worth $40,347,000. Norges Bank acquired a new position in shares of Loar during the fourth quarter valued at $30,326,000. Finally, Federated Hermes Inc. boosted its holdings in Loar by 29.7% in the fourth quarter. Federated Hermes Inc. now owns 998,733 shares of the company's stock valued at $73,816,000 after acquiring an additional 228,477 shares during the last quarter.

Loar Trading Down 0.9 %

Shares of NYSE:LOAR traded down $0.83 during mid-day trading on Friday, reaching $95.95. The stock had a trading volume of 1,041,321 shares, compared to its average volume of 420,329. The firm has a market cap of $8.98 billion and a PE ratio of 399.79. The firm has a 50 day simple moving average of $79.13 and a two-hundred day simple moving average of $79.42. The company has a current ratio of 3.95, a quick ratio of 2.28 and a debt-to-equity ratio of 0.78. Loar Holdings, LLC has a twelve month low of $45.49 and a twelve month high of $99.16.

Loar (NYSE:LOAR - Get Free Report) last announced its quarterly earnings results on Monday, March 31st. The company reported $0.11 earnings per share for the quarter, hitting analysts' consensus estimates of $0.11. The firm had revenue of $110.40 million for the quarter, compared to the consensus estimate of $102.51 million. Loar's revenue for the quarter was up 27.8% compared to the same quarter last year. On average, research analysts predict that Loar Holdings, LLC will post 0.28 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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.