Loar (NYSE:LOAR) Price Target Cut to $92.00 by Analysts at Royal Bank of Canada

Loar (NYSE:LOAR) had its price objective lowered by equities researchers at Royal Bank of Canada from $100.00 to $92.00 in a report released on Monday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price points to a potential upside of 35.31% from the company’s current price.

Separately, Morgan Stanley lifted their target price on Loar from $75.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Monday, November 18th.

Loar Stock Up 0.3 %

Shares of NYSE:LOAR opened at $67.99 on Monday. Loar has a 12 month low of $42.57 and a 12 month high of $96.99. The company has a current ratio of 3.95, a quick ratio of 2.28 and a debt-to-equity ratio of 0.78. The company’s fifty day moving average price is $75.09 and its 200 day moving average price is $77.85.

Insider Activity

In related news, insider Michael J. Manella sold 28,153 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $81.17, for a total transaction of $2,285,179.01. Following the transaction, the insider now owns 580,388 shares of the company’s stock, valued at $47,110,093.96. This trade represents a 4.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Brett N. Milgrim sold 120,305 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $81.17, for a total value of $9,765,156.85. Following the completion of the transaction, the chairman now owns 3,865,327 shares in the company, valued at $313,748,592.59. This trade represents a 3.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,135,706 shares of company stock valued at $92,185,256 in the last ninety days.

Institutional Investors Weigh In On Loar

Several large investors have recently modified their holdings of the stock. Polar Asset Management Partners Inc. increased its stake in Loar by 343.9% in the 4th quarter. Polar Asset Management Partners Inc. now owns 18,200 shares of the company’s stock valued at $1,345,000 after buying an additional 14,100 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in shares of Loar by 950.5% in the fourth quarter. Public Employees Retirement System of Ohio now owns 40,299 shares of the company’s stock valued at $2,978,000 after acquiring an additional 36,463 shares in the last quarter. Woodline Partners LP increased its stake in shares of Loar by 156.0% during the fourth quarter. Woodline Partners LP now owns 83,928 shares of the company’s stock worth $6,203,000 after acquiring an additional 51,149 shares during the period. State of Wyoming purchased a new position in Loar during the fourth quarter worth about $53,000. Finally, Seven Grand Managers LLC raised its holdings in Loar by 10.0% during the fourth quarter. Seven Grand Managers LLC now owns 110,000 shares of the company’s stock worth $8,130,000 after purchasing an additional 10,000 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.