Federated Hermes Inc. Purchases 228,477 Shares of Loar Holdings, LLC (NYSE:LOAR)

Federated Hermes Inc. increased its holdings in shares of Loar Holdings, LLC (NYSE:LOAR - Free Report) by 29.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 998,733 shares of the company's stock after purchasing an additional 228,477 shares during the period. Federated Hermes Inc. owned approximately 1.11% of Loar worth $73,816,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in shares of 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 buying an additional 335,376 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in Loar during the third quarter worth $1,247,000. M&T Bank Corp acquired a new position in Loar during the 4th quarter valued at $306,000. New York State Common Retirement Fund boosted its holdings in Loar by 14.1% in the 4th quarter. New York State Common Retirement Fund now owns 101,802 shares of the company's stock valued at $7,524,000 after purchasing an additional 12,592 shares during the period. Finally, BNP Paribas Financial Markets boosted its holdings in Loar by 3,444.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 10,633 shares of the company's stock valued at $793,000 after purchasing an additional 10,333 shares during the period.

Wall Street Analyst Weigh In

LOAR has been the subject of a number of research analyst reports. Morgan Stanley raised shares of 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. Royal Bank of Canada restated an "outperform" rating and set a $92.00 price target on shares of Loar in a research note on Tuesday, April 1st.

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Loar Price Performance

Shares of NYSE:LOAR traded up $2.06 during midday trading on Friday, reaching $87.95. 645,874 shares of the company's stock were exchanged, compared to its average volume of 423,324. 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 company's 50 day simple moving average is $71.03 and its two-hundred day simple moving average is $77.20. Loar Holdings, LLC has a 12 month low of $42.57 and a 12 month high of $96.99. The firm has a market capitalization of $8.23 billion and a PE ratio of 366.47.

Loar (NYSE:LOAR - Get Free Report) last released its quarterly earnings data on Monday, March 31st. The company reported $0.11 earnings per share for the quarter, meeting analysts' consensus estimates 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 for the quarter was up 27.8% compared to the same quarter last year. Equities research analysts expect that Loar Holdings, LLC will post 0.28 earnings per share for the current fiscal year.

Loar 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.