Glenn D’alessandro Sells 132,436 Shares of Loar Holdings, LLC (NYSE:LOAR) Stock

Loar Holdings, LLC (NYSE:LOAR) insider Glenn D’alessandro sold 132,436 shares of the company’s stock in a transaction on Friday, May 16th. The stock was sold at an average price of $80.91, for a total value of $10,715,396.76. Following the sale, the insider now owns 928,074 shares of the company’s stock, valued at approximately $75,090,467.34. This represents a 12.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Glenn D’alessandro also recently made the following trade(s):

• On Monday, May 19th, Glenn D’alessandro sold 19,939 shares of Loar stock. The stock was sold at an average price of $80.91, for a total value of $1,613,264.49.

Loar Price Performance

Loar stock opened at $82.90 on Wednesday. The company has a current ratio of 3.95, a quick ratio of 2.28 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $7.76 billion and a PE ratio of 218.16. Loar Holdings, LLC has a 12 month low of $50.02 and a 12 month high of $99.67. The stock has a 50-day moving average price of $82.13 and a two-hundred day moving average price of $79.49.

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

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Loar

Several institutional investors and hedge funds have recently made changes to their positions in LOAR. Vanguard Group Inc. increased its stake in shares of Loar by 132.4% in the fourth quarter. Vanguard Group Inc. now owns 2,721,325 shares of the company’s stock valued at $201,133,000 after buying an additional 1,550,581 shares during the period. T. Rowe Price Investment Management Inc. increased its stake in shares of Loar by 232.6% in the first quarter. T. Rowe Price Investment Management Inc. now owns 1,601,485 shares of the company’s stock valued at $113,145,000 after buying an additional 1,119,958 shares during the period. TimesSquare Capital Management LLC increased its stake in shares of Loar by 159.8% in the fourth quarter. TimesSquare Capital Management LLC now owns 1,066,525 shares of the company’s stock valued at $78,827,000 after buying an additional 656,016 shares during the period. Wasatch Advisors LP acquired a new stake in shares of Loar in the fourth quarter valued at about $40,347,000. Finally, Norges Bank acquired a new stake in shares of Loar in the fourth quarter valued at about $30,326,000.

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.