Janus Henderson Group PLC Sells 32,338 Shares of Loar Holdings, LLC (NYSE:LOAR)

Janus Henderson Group PLC lowered its position in shares of Loar Holdings, LLC (NYSE:LOAR - Free Report) by 8.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 367,421 shares of the company's stock after selling 32,338 shares during the quarter. Janus Henderson Group PLC owned 0.41% of Loar worth $27,157,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of LOAR. Sterling Capital Management LLC lifted its position in shares of Loar by 141.5% during the 4th quarter. Sterling Capital Management LLC now owns 500 shares of the company's stock worth $37,000 after buying an additional 293 shares in the last quarter. Corebridge Financial Inc. raised its holdings in shares of Loar by 174.3% in the 4th quarter. Corebridge Financial Inc. now owns 524 shares of the company's stock worth $39,000 after purchasing an additional 333 shares during the period. Arcadia Investment Management Corp MI bought a new stake in shares of Loar in the 4th quarter worth approximately $61,000. Gen Wealth Partners Inc bought a new stake in shares of Loar in the 4th quarter worth approximately $62,000. Finally, R Squared Ltd bought a new stake in shares of Loar in the 4th quarter worth approximately $95,000.

Analyst Ratings Changes

LOAR has been the topic of a number of research reports. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $92.00 price target on shares of Loar in a report on Tuesday, April 1st. Morgan Stanley upgraded shares of Loar from an "equal weight" rating to an "overweight" rating and set a $91.00 price objective for the company in a research note on Thursday, April 3rd. Finally, Citigroup lifted 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.

Loar Price Performance

Shares of LOAR traded down $0.95 during mid-day trading on Tuesday, reaching $83.99. 224,723 shares of the stock traded hands, compared to its average volume of 485,722. The firm has a fifty day moving average price of $81.74 and a 200 day moving average price of $79.46. The company has a market cap of $7.86 billion and a price-to-earnings ratio of 221.65. 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 1 year low of $49.62 and a 1 year high of $99.67.

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

Insider Activity

In related news, Director Paul S. Levy sold 175,923 shares of the company's stock in a transaction on Monday, May 19th. The shares were 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 now directly owns 8,012,580 shares in the company, valued at approximately $648,297,847.80. The trade was a 2.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Brett N. Milgrim sold 84,115 shares of the business's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $80.91, for a total transaction of $6,805,744.65. Following the completion of the sale, the chairman now directly owns 3,222,517 shares of the company's stock, valued at $260,733,850.47. This represents a 2.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,968,407 shares of company stock worth $240,173,810 in the last three months.

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.