Insider Selling: Loar Holdings, LLC (NYSE:LOAR) Insider Sells 19,939 Shares of Stock

Loar Holdings, LLC (NYSE:LOAR) insider Glenn D’alessandro sold 19,939 shares of the firm’s stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $80.91, for a total value of $1,613,264.49. Following the transaction, the insider now owns 908,135 shares in the company, valued at $73,477,202.85. This represents a 2.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Friday, May 16th, Glenn D’alessandro sold 132,436 shares of Loar stock. The stock was sold at an average price of $80.91, for a total value of $10,715,396.76.

Loar Price Performance

Shares of NYSE LOAR opened at $82.90 on Wednesday. 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 stock has a fifty day moving average price of $82.13 and a 200 day moving average price of $79.49. Loar Holdings, LLC has a 1-year low of $50.02 and a 1-year high of $99.67. The company has a market cap of $7.76 billion and a PE ratio of 218.16.

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

Analyst Ratings Changes

LOAR has been the topic of several analyst reports. Citigroup lifted their target price on Loar from $91.00 to $99.00 and gave the company a “buy” rating in a research note on Thursday, May 15th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $92.00 price target on shares of Loar in a report on Tuesday, April 1st. Finally, Morgan Stanley raised Loar from an “equal weight” rating to an “overweight” rating and set a $91.00 price target for the company in a report on Thursday, April 3rd.

Institutional Investors Weigh In On Loar

Institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC boosted its position in shares of Loar by 204.9% during the 1st quarter. GAMMA Investing LLC now owns 372 shares of the company’s stock worth $26,000 after purchasing an additional 250 shares in the last quarter. Sterling Capital Management LLC boosted its position in shares of Loar by 141.5% during the 4th quarter. Sterling Capital Management LLC now owns 500 shares of the company’s stock worth $37,000 after purchasing an additional 293 shares in the last quarter. Corebridge Financial Inc. boosted its position in shares of Loar by 174.3% during the 4th quarter. Corebridge Financial Inc. now owns 524 shares of the company’s stock worth $39,000 after purchasing an additional 333 shares in the last quarter. State of Wyoming purchased a new stake in shares of Loar during the 4th quarter worth $53,000. Finally, Caitong International Asset Management Co. Ltd boosted its position in shares of Loar by 5,286.7% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 808 shares of the company’s stock worth $57,000 after purchasing an additional 793 shares in the last quarter.

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.