Loar Holdings, LLC (NYSE:LOAR) Shares Bought by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. grew its position in Loar Holdings, LLC (NYSE:LOAR - Free Report) by 343.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,200 shares of the company's stock after buying an additional 14,100 shares during the quarter. Polar Asset Management Partners Inc.'s holdings in Loar were worth $1,345,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in LOAR. Sterling Capital Management LLC increased its position in shares of Loar by 141.5% in the fourth quarter. Sterling Capital Management LLC now owns 500 shares of the company's stock valued at $37,000 after buying an additional 293 shares in the last quarter. Corebridge Financial Inc. increased its position in shares of Loar by 174.3% in the fourth quarter. Corebridge Financial Inc. now owns 524 shares of the company's stock valued at $39,000 after buying an additional 333 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new position in shares of Loar in the fourth quarter valued at $61,000. Gen Wealth Partners Inc purchased a new position in shares of Loar in the fourth quarter valued at $62,000. Finally, R Squared Ltd purchased a new position in shares of Loar in the fourth quarter valued at $95,000.

Analysts Set New Price Targets

A number of analysts recently commented on LOAR shares. Citigroup lifted their price objective on Loar from $91.00 to $99.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Morgan Stanley upgraded Loar from an "equal weight" rating to an "overweight" rating and set a $91.00 price objective for the company in a research report on Thursday, April 3rd. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $92.00 price objective on shares of Loar in a research report on Tuesday, April 1st.

Loar Trading Down 2.4%

NYSE:LOAR traded down $2.04 during mid-day trading on Tuesday, reaching $82.90. The company's stock had a trading volume of 1,367,562 shares, compared to its average volume of 491,418. The stock has a market cap of $7.76 billion and a P/E ratio of 218.16. Loar Holdings, LLC has a twelve month low of $50.02 and a twelve month high of $99.67. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.95 and a quick ratio of 2.28. The company's fifty day simple moving average is $82.13 and its two-hundred day simple moving average is $79.49.

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

Insider Activity

In related news, insider Glenn D'alessandro sold 19,939 shares of the business's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $80.91, for a total transaction of $1,613,264.49. Following the transaction, the insider now directly owns 908,135 shares of the company's stock, valued at approximately $73,477,202.85. The trade was a 2.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Michael J. Manella sold 130,744 shares of the business's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $80.91, for a total value of $10,578,497.04. Following the transaction, the insider now directly owns 449,644 shares in the company, valued at $36,380,696.04. This trade represents a 22.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,742,872 shares of company stock valued at $464,655,774 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.