Geode Capital Management LLC Buys 164,912 Shares of Loar Holdings, LLC (NYSE:LOAR)

Geode Capital Management LLC boosted its stake in Loar Holdings, LLC (NYSE:LOAR) by 93.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 340,487 shares of the company’s stock after purchasing an additional 164,912 shares during the quarter. Geode Capital Management LLC owned approximately 0.38% of Loar worth $25,172,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Corebridge Financial Inc. increased its holdings in Loar by 174.3% during the 4th quarter. Corebridge Financial Inc. now owns 524 shares of the company’s stock worth $39,000 after acquiring an additional 333 shares during the period. Arcadia Investment Management Corp MI purchased a new stake in shares of Loar in the fourth quarter worth $61,000. R Squared Ltd bought a new stake in Loar during the fourth quarter valued at $95,000. Amalgamated Bank grew its position in Loar by 190.7% during the fourth quarter. Amalgamated Bank now owns 2,000 shares of the company’s stock worth $148,000 after buying an additional 1,312 shares in the last quarter. Finally, CIBC Asset Management Inc bought a new position in Loar in the 4th quarter worth about $201,000.

Loar Price Performance

LOAR stock opened at $85.12 on Friday. The stock has a market capitalization of $7.96 billion and a price-to-earnings ratio of 354.67. The firm’s 50-day moving average price is $71.82 and its two-hundred day moving average price is $77.52. The company has a current ratio of 3.95, a quick ratio of 2.28 and a debt-to-equity ratio of 0.78. Loar Holdings, LLC has a 12-month low of $42.57 and a 12-month high of $96.99.

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

Analyst Upgrades and Downgrades

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

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.