Arrowstreet Capital Limited Partnership Purchases New Shares in Loar Holdings, LLC (NYSE:LOAR)

Arrowstreet Capital Limited Partnership acquired a new position in shares of Loar Holdings, LLC (NYSE:LOAR - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 21,444 shares of the company's stock, valued at approximately $1,585,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Corebridge Financial Inc. raised its position 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 buying an additional 333 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new stake in Loar in the 4th quarter worth approximately $61,000. R Squared Ltd acquired a new position in Loar in the 4th quarter valued at $95,000. Amalgamated Bank lifted its stake in shares of Loar by 190.7% during the 4th quarter. Amalgamated Bank now owns 2,000 shares of the company's stock worth $148,000 after purchasing an additional 1,312 shares during the period. Finally, CIBC Asset Management Inc acquired a new stake in shares of Loar during the fourth quarter worth $201,000.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Royal Bank of Canada reiterated an "outperform" rating and set a $92.00 target price on shares of Loar in a research report on Tuesday, April 1st. Morgan Stanley upgraded shares of Loar from an "equal weight" rating to an "overweight" rating and set a $91.00 price objective on the stock in a report on Thursday, April 3rd.

Remove Ads

Loar Trading Up 1.2 %

Loar stock traded up $1.08 during midday trading on Tuesday, reaching $88.63. The stock had a trading volume of 214,730 shares, compared to its average volume of 423,385. The stock's 50-day simple moving average is $71.26 and its 200 day simple moving average is $77.31. Loar Holdings, LLC has a twelve month low of $42.57 and a twelve month high of $96.99. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.28 and a current ratio of 3.95. The stock has a market capitalization of $8.29 billion and a PE ratio of 369.29.

Loar (NYSE:LOAR - Get Free Report) last announced its quarterly earnings results on Monday, March 31st. The company reported $0.11 earnings per share for the quarter, meeting analysts' consensus estimates of $0.11. The business had revenue of $110.40 million for 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. Analysts expect that Loar Holdings, LLC will post 0.28 EPS for the current year.

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.