Orion Portfolio Solutions LLC Has $218,000 Stake in Loar Holdings, LLC (NYSE:LOAR)

Orion Portfolio Solutions LLC reduced its holdings in Loar Holdings, LLC (NYSE:LOAR) by 18.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,950 shares of the company’s stock after selling 688 shares during the period. Orion Portfolio Solutions LLC’s holdings in Loar were worth $218,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LOAR. The Manufacturers Life Insurance Company acquired a new stake in shares of Loar in the third quarter valued at about $1,247,000. BNP Paribas Financial Markets grew its stake in Loar by 3,444.3% in the third quarter. BNP Paribas Financial Markets now owns 10,633 shares of the company’s stock valued at $793,000 after purchasing an additional 10,333 shares in the last quarter. HighTower Advisors LLC acquired a new position in shares of Loar during the 3rd quarter worth approximately $290,000. State Street Corp raised its stake in shares of Loar by 413.3% during the 3rd quarter. State Street Corp now owns 416,531 shares of the company’s stock worth $31,069,000 after purchasing an additional 335,376 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Loar in the 3rd quarter valued at approximately $332,000.

Loar Stock Performance

Shares of LOAR stock opened at $86.25 on Friday. The company has a market capitalization of $8.07 billion and a price-to-earnings ratio of 359.36. 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 $42.57 and a 52 week high of $96.99. The company has a 50-day simple moving average of $70.81 and a 200 day simple moving average of $77.11.

Loar (NYSE:LOAR) last posted its earnings results on Monday, March 31st. The company reported $0.11 EPS for the quarter, meeting the consensus estimate of $0.11. The firm had revenue of $110.40 million during the quarter, compared to analyst estimates of $102.51 million. The firm’s revenue for the quarter was up 27.8% compared to the same quarter last year. On average, sell-side analysts predict that Loar Holdings, LLC will post 0.28 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Morgan Stanley raised shares of Loar from an “equal weight” rating to an “overweight” rating and set a $91.00 price target on the stock in a research report on Thursday, April 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $92.00 target price 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.