Loar Holdings, LLC (NYSE:LOAR) Director Sells $94,543,254.09 in Stock

Loar Holdings, LLC (NYSE:LOAR) Director Paul S. Levy sold 1,168,499 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 transaction of $94,543,254.09. Following the sale, the director now owns 8,188,503 shares of the company’s stock, valued at approximately $662,531,777.73. This represents a 12.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Loar Price Performance

Shares of LOAR opened at $82.90 on Wednesday. The company 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 current ratio of 3.95 and a quick ratio of 2.28. The business’s 50-day moving average is $82.13 and its 200-day moving average is $79.49. Loar Holdings, LLC has a fifty-two week low of $50.02 and a fifty-two week high of $99.67.

Loar (NYSE:LOAR) last issued its earnings results on Monday, March 31st. The company reported $0.11 EPS for the quarter, meeting analysts’ consensus estimates of $0.11. The firm had revenue of $110.40 million during the quarter, compared to analyst estimates of $102.51 million. The business’s revenue for the quarter was up 27.8% compared to the same quarter last year. Equities research analysts expect that Loar Holdings, LLC will post 0.28 EPS for the current fiscal year.

Hedge Funds Weigh In On Loar

Hedge funds have recently added to or reduced their stakes in the company. Barclays PLC lifted its holdings in shares of Loar by 871.3% during the 3rd quarter. Barclays PLC now owns 2,943 shares of the company’s stock valued at $219,000 after purchasing an additional 2,640 shares in the last quarter. Zweig DiMenna Associates LLC lifted its position in shares of Loar by 4.4% during the 4th quarter. Zweig DiMenna Associates LLC now owns 172,750 shares of the company’s stock valued at $12,768,000 after acquiring an additional 7,300 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in shares of Loar during the 4th quarter valued at $5,053,000. R Squared Ltd acquired a new position in Loar in the 4th quarter worth about $95,000. Finally, Renaissance Capital LLC increased its stake in shares of Loar by 411.5% in the fourth quarter. Renaissance Capital LLC now owns 58,275 shares of the company’s stock valued at $4,307,000 after buying an additional 46,883 shares during the period.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on LOAR. Citigroup increased their price target on shares of Loar from $91.00 to $99.00 and gave the company a “buy” rating in a report on Thursday, May 15th. Morgan Stanley upgraded shares of Loar from an “equal weight” rating to an “overweight” rating and set a $91.00 price target for the company in a research note on Thursday, April 3rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $92.00 price objective on shares of Loar in a report on Tuesday, April 1st.

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.