Dirkson R. Charles Sells 88,767 Shares of Loar Holdings, LLC (NYSE:LOAR) Stock

Loar Holdings, LLC (NYSE:LOAR) insider Dirkson R. Charles sold 88,767 shares of Loar stock in a transaction on Monday, May 19th. The stock was sold at an average price of $80.91, for a total transaction of $7,182,137.97. Following the completion of the transaction, the insider now directly owns 4,043,005 shares in the company, valued at $327,119,534.55. This represents a 2.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Loar Price Performance

Shares of LOAR opened at $82.90 on Wednesday. The firm has a market capitalization of $7.76 billion and a PE ratio of 218.16. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.95 and a quick ratio of 2.28. Loar Holdings, LLC has a 1-year low of $50.02 and a 1-year high of $99.67. The company’s fifty day moving average price is $82.13 and its 200-day moving average price is $79.49.

Loar (NYSE:LOAR) last announced its quarterly earnings data on Monday, March 31st. The company reported $0.11 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.11. The company had revenue of $110.40 million for the quarter, compared to analysts’ expectations of $102.51 million. Loar’s revenue was up 27.8% compared to the same quarter last year. On average, equities research analysts predict that Loar Holdings, LLC will post 0.28 EPS for the current year.

Institutional Investors Weigh In On Loar

Several hedge funds have recently added to or reduced their stakes in LOAR. GAMMA Investing LLC boosted its holdings in Loar by 204.9% in the first quarter. GAMMA Investing LLC now owns 372 shares of the company’s stock valued at $26,000 after purchasing an additional 250 shares during the last quarter. Sterling Capital Management LLC boosted its holdings in 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 purchasing an additional 293 shares during the last quarter. Corebridge Financial Inc. boosted its holdings in 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 purchasing an additional 333 shares during the last quarter. State of Wyoming purchased a new stake in Loar in the fourth quarter valued at $53,000. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in Loar by 5,286.7% in the first quarter. Caitong International Asset Management Co. Ltd now owns 808 shares of the company’s stock valued at $57,000 after purchasing an additional 793 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on LOAR. Citigroup lifted their price target on shares of Loar from $91.00 to $99.00 and gave the stock a “buy” rating in a report on Thursday, May 15th. Morgan Stanley raised shares of 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, Royal Bank of Canada reissued an “outperform” rating and set a $92.00 price objective on shares of Loar in a report on Tuesday, April 1st.

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.