Loar Holdings, LLC (NYSE:LOAR) Chairman Brett N. Milgrim Sells 84,115 Shares

Loar Holdings, LLC (NYSE:LOAR) Chairman Brett N. Milgrim sold 84,115 shares of the business’s stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $80.91, for a total transaction of $6,805,744.65. Following the transaction, the chairman now owns 3,222,517 shares in the company, valued at approximately $260,733,850.47. This trade represents a 2.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Loar Trading Down 2.4%

Shares of LOAR opened at $82.90 on Wednesday. Loar Holdings, LLC has a twelve month low of $50.02 and a twelve month high of $99.67. The firm has a market capitalization of $7.76 billion and a P/E ratio of 218.16. 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 firm’s 50-day moving average is $82.13 and its two-hundred day moving average is $79.49.

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 the consensus estimate of $0.11. The business had revenue of $110.40 million during the quarter, compared to analysts’ expectations of $102.51 million. The firm’s revenue was up 27.8% compared to the same quarter last year. On average, research analysts predict that Loar Holdings, LLC will post 0.28 earnings per share for the current fiscal year.

Analysts Set New Price Targets

LOAR has been the topic of several recent analyst reports. Citigroup upped their target price on shares of Loar from $91.00 to $99.00 and gave the stock a “buy” rating in a research 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 target price on the stock in a research report on Thursday, April 3rd. Finally, Royal Bank of Canada restated an “outperform” rating and set a $92.00 target price on shares of Loar in a research report on Tuesday, April 1st.

Institutional Trading of Loar

Several institutional investors and hedge funds have recently modified their holdings of LOAR. GAMMA Investing LLC lifted its holdings in shares of 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 in the last quarter. Sterling Capital Management LLC lifted its holdings in shares of 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 in the last quarter. Corebridge Financial Inc. lifted its holdings in shares of 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 in the last quarter. State of Wyoming purchased a new stake in shares of Loar in the fourth quarter valued at about $53,000. Finally, Caitong International Asset Management Co. Ltd lifted its stake in shares of Loar by 5,286.7% during the first quarter. Caitong International Asset Management Co. Ltd now owns 808 shares of the company’s stock valued at $57,000 after buying an additional 793 shares during the period.

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.