Artisan Partners Limited Partnership Sells 15,862 Shares of Loar Holdings, LLC (NYSE:LOAR)

Artisan Partners Limited Partnership lowered its position in shares of Loar Holdings, LLC (NYSE:LOAR - Free Report) by 5.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 287,522 shares of the company's stock after selling 15,862 shares during the quarter. Artisan Partners Limited Partnership owned about 0.32% of Loar worth $21,251,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. State Street Corp boosted its stake in Loar by 413.3% during the third quarter. State Street Corp now owns 416,531 shares of the company's stock worth $31,069,000 after acquiring an additional 335,376 shares in the last quarter. The Manufacturers Life Insurance Company bought a new stake in shares of Loar in the 3rd quarter worth approximately $1,247,000. New York State Common Retirement Fund grew its stake in shares of Loar by 14.1% in the 4th quarter. New York State Common Retirement Fund now owns 101,802 shares of the company's stock worth $7,524,000 after buying an additional 12,592 shares during the last quarter. M&T Bank Corp bought a new position in Loar during the 4th quarter valued at approximately $306,000. Finally, BNP Paribas Financial Markets raised its stake in Loar by 3,444.3% during the third quarter. BNP Paribas Financial Markets now owns 10,633 shares of the company's stock valued at $793,000 after buying an additional 10,333 shares during the last quarter.

Loar Stock Up 6.4 %

Shares of LOAR traded up $4.58 on Wednesday, hitting $75.91. 68,225 shares of the stock traded hands, compared to its average volume of 420,407. Loar Holdings, LLC has a one year low of $42.57 and a one year high of $96.99. The business has a 50 day simple moving average of $71.08 and a 200 day simple moving average of $76.95. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.95 and a quick ratio of 2.28.

Remove Ads

Loar (NYSE:LOAR - Get Free Report) last issued its earnings results on Monday, March 31st. The company reported $0.11 EPS for the quarter, meeting the consensus estimate of $0.11. The business had revenue of $110.40 million for the quarter, compared to analysts' expectations of $102.51 million. The company's revenue for the quarter was up 27.8% on a year-over-year basis. On average, equities analysts forecast that Loar Holdings, LLC will post 0.28 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada restated an "outperform" rating and set a $92.00 price target on shares of Loar in a report on Tuesday.

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.