Wells Fargo & Company MN Buys 4,201 Shares of Loar Holdings, LLC (NYSE:LOAR)

Wells Fargo & Company MN boosted its position in Loar Holdings, LLC (NYSE:LOAR - Free Report) by 179.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,536 shares of the company's stock after purchasing an additional 4,201 shares during the quarter. Wells Fargo & Company MN's holdings in Loar were worth $483,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in LOAR. Corebridge Financial Inc. increased 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 buying an additional 333 shares during the last quarter. Arcadia Investment Management Corp MI bought a new stake in Loar during the fourth quarter worth about $61,000. R Squared Ltd purchased a new position in shares of Loar in the 4th quarter worth about $95,000. Amalgamated Bank increased its position in shares of Loar by 190.7% during the 4th quarter. Amalgamated Bank now owns 2,000 shares of the company's stock valued at $148,000 after purchasing an additional 1,312 shares during the last quarter. Finally, CIBC Asset Management Inc purchased a new position in shares of Loar during the 4th quarter valued at about $201,000.

Analyst Upgrades and Downgrades

LOAR has been the topic of a number of recent research reports. Royal Bank of Canada reiterated an "outperform" rating and set a $92.00 price target on shares of Loar in a research report 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 on the stock in a report on Thursday, April 3rd.

Loar Trading Up 0.2 %

Shares of NYSE:LOAR traded up $0.16 during trading on Wednesday, reaching $97.39. 617,600 shares of the company traded hands, compared to its average volume of 414,896. 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 52-week low of $45.13 and a 52-week high of $99.16. The business's fifty day moving average is $77.57 and its 200-day moving average is $79.07. The firm has a market capitalization of $9.11 billion and a price-to-earnings ratio of 405.77.

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

Loar 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.