Invesco Ltd. Buys 207,255 Shares of Loar Holdings, LLC (NYSE:LOAR)

Invesco Ltd. lifted its stake in Loar Holdings, LLC (NYSE:LOAR - Free Report) by 32.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 851,496 shares of the company's stock after buying an additional 207,255 shares during the period. Invesco Ltd. owned about 0.95% of Loar worth $62,934,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in LOAR. Corebridge Financial Inc. raised its holdings in Loar by 174.3% in the 4th quarter. Corebridge Financial Inc. now owns 524 shares of the company's stock valued at $39,000 after acquiring an additional 333 shares in the last quarter. Arcadia Investment Management Corp MI acquired a new position in shares of Loar in the fourth quarter valued at $61,000. Picton Mahoney Asset Management lifted its position in Loar by 5.6% in the fourth quarter. Picton Mahoney Asset Management now owns 19,300 shares of the company's stock worth $1,426,000 after purchasing an additional 1,030 shares during the period. R Squared Ltd acquired a new stake in Loar during the fourth quarter worth $95,000. Finally, Amalgamated Bank boosted its stake in Loar by 190.7% during the fourth quarter. Amalgamated Bank now owns 2,000 shares of the company's stock worth $148,000 after buying an additional 1,312 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on LOAR. Royal Bank of Canada restated an "outperform" rating and issued a $92.00 price objective on shares of Loar in a research note on Tuesday, April 1st. Morgan Stanley raised shares of Loar from an "equal weight" rating to an "overweight" rating and set a $91.00 price target for the company in a research report on Thursday, April 3rd.

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Loar Stock Performance

Loar stock opened at $87.64 on Tuesday. Loar Holdings, LLC has a 52-week low of $42.57 and a 52-week high of $96.99. 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 $71.26 and a two-hundred day moving average price of $77.31. The firm has a market capitalization of $8.20 billion and a P/E ratio of 365.17.

Loar (NYSE:LOAR - Get Free Report) 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 firm had revenue of $110.40 million for the quarter, compared to the consensus estimate of $102.51 million. Loar's quarterly revenue was up 27.8% on a year-over-year basis. As a group, analysts anticipate that Loar Holdings, LLC will post 0.28 EPS 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.

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