Wall Street Zen Downgrades Loar (NYSE:LOAR) to Hold

Wall Street Zen lowered shares of Loar (NYSE:LOAR - Free Report) from a buy rating to a hold rating in a research note published on Friday morning.

Several other research firms have also recently weighed in on LOAR. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $92.00 price objective on shares of Loar in a research report on Tuesday, April 1st. Citigroup lifted their price objective on Loar from $91.00 to $99.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Finally, Morgan Stanley initiated coverage on Loar in a research report on Friday, May 23rd. They set an "overweight" rating and a $100.00 price objective on the stock.

Loar Trading Down 1.6%

Shares of NYSE LOAR traded down $1.18 during trading hours on Friday, hitting $74.16. The company's stock had a trading volume of 586,741 shares, compared to its average volume of 608,979. The company has a debt-to-equity ratio of 0.25, a quick ratio of 3.21 and a current ratio of 5.13. The stock has a market cap of $6.94 billion, a price-to-earnings ratio of 195.16 and a beta of 0.17. Loar has a 12 month low of $52.26 and a 12 month high of $99.67. The business has a 50-day simple moving average of $83.47 and a 200-day simple moving average of $79.46.

Insider Buying and Selling at Loar

In other news, Chairman Brett N. Milgrim sold 84,115 shares of the company's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $80.91, for a total value of $6,805,744.65. Following the completion of the sale, the chairman directly owned 3,222,517 shares in the company, valued at $260,733,850.47. This represents a 2.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Michael J. Manella sold 19,684 shares of the company's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $80.91, for a total value of $1,592,632.44. Following the completion of the sale, the insider owned 429,960 shares of the company's stock, valued at $34,788,063.60. This trade represents a 4.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,742,872 shares of company stock worth $464,655,774. 22.60% of the stock is owned by corporate insiders.

Institutional Trading of Loar

Several hedge funds have recently made changes to their positions in the business. Universal Beteiligungs und Servicegesellschaft mbH raised its stake in shares of Loar by 0.3% during the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 40,436 shares of the company's stock valued at $2,857,000 after acquiring an additional 139 shares in the last quarter. Huntleigh Advisors Inc. raised its stake in shares of Loar by 1.6% during the first quarter. Huntleigh Advisors Inc. now owns 11,477 shares of the company's stock valued at $811,000 after acquiring an additional 182 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Loar by 204.9% during the first quarter. GAMMA Investing LLC now owns 372 shares of the company's stock valued at $26,000 after acquiring an additional 250 shares in the last quarter. Amalgamated Bank raised its stake in Loar by 13.1% in the first quarter. Amalgamated Bank now owns 2,261 shares of the company's stock worth $160,000 after buying an additional 261 shares in the last quarter. Finally, MetLife Investment Management LLC raised its stake in Loar by 16.1% in the first quarter. MetLife Investment Management LLC now owns 2,014 shares of the company's stock worth $142,000 after buying an additional 279 shares in the last quarter.

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.