Brett N. Milgrim Sells 558,695 Shares of Loar Holdings, LLC (NYSE:LOAR) Stock

Loar Holdings, LLC (NYSE:LOAR) Chairman Brett N. Milgrim sold 558,695 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $80.91, for a total value of $45,204,012.45. Following the transaction, the chairman now owns 3,306,632 shares of the company’s stock, valued at $267,539,595.12. The trade was a 14.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Loar Stock Performance

Shares of LOAR opened at $82.90 on Wednesday. The stock’s 50-day simple moving average is $82.13 and its 200 day simple moving average is $79.49. The stock has a market capitalization of $7.76 billion and a price-to-earnings ratio of 218.16. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.28 and a current ratio of 3.95. Loar Holdings, LLC has a 52-week low of $50.02 and a 52-week high of $99.67.

Loar (NYSE:LOAR) last issued 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 business had revenue of $110.40 million for the quarter, compared to the consensus estimate of $102.51 million. The company’s quarterly revenue was up 27.8% compared to the same quarter last year. Research analysts forecast that Loar Holdings, LLC will post 0.28 EPS for the current fiscal year.

Institutional Trading of Loar

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its position in shares of Loar by 204.9% in the 1st quarter. GAMMA Investing LLC now owns 372 shares of the company’s stock worth $26,000 after purchasing an additional 250 shares during the last quarter. Sterling Capital Management LLC grew its stake in shares of Loar by 141.5% during the 4th quarter. Sterling Capital Management LLC now owns 500 shares of the company’s stock valued at $37,000 after purchasing an additional 293 shares during the period. Corebridge Financial Inc. grew its stake in shares of Loar by 174.3% during the 4th quarter. Corebridge Financial Inc. now owns 524 shares of the company’s stock valued at $39,000 after acquiring an additional 333 shares during the period. State of Wyoming bought a new position in shares of Loar during the 4th quarter valued at approximately $53,000. Finally, Caitong International Asset Management Co. Ltd grew its stake in shares of Loar by 5,286.7% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 808 shares of the company’s stock valued at $57,000 after acquiring an additional 793 shares during the period.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on LOAR shares. Royal Bank of Canada reiterated an “outperform” rating and set a $92.00 price target on shares of Loar in a research note on Tuesday, April 1st. Morgan Stanley raised Loar from an “equal weight” rating to an “overweight” rating and set a $91.00 price objective on the stock in a report on Thursday, April 3rd. Finally, Citigroup increased their price objective on Loar from $91.00 to $99.00 and gave the stock a “buy” rating in a report on Thursday, May 15th.

About Loar

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.