JPMorgan Chase & Co. Buys 144,016 Shares of Loar Holdings, LLC (NYSE:LOAR)

JPMorgan Chase & Co. lifted its position in Loar Holdings, LLC (NYSE:LOAR - Free Report) by 50.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 427,009 shares of the company's stock after purchasing an additional 144,016 shares during the quarter. JPMorgan Chase & Co. owned 0.48% of Loar worth $31,560,000 at the end of the most recent reporting period.

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

Loar Price Performance

Shares of NYSE:LOAR traded up $2.06 during trading on Friday, reaching $87.95. The stock had a trading volume of 645,874 shares, compared to its average volume of 423,324. The stock has a market capitalization of $8.23 billion and a PE ratio of 366.47. Loar Holdings, LLC has a 52 week low of $42.57 and a 52 week high of $96.99. The business's 50-day moving average price is $71.03 and its 200 day moving average price is $77.20. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.95 and a quick ratio of 2.28.

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Loar (NYSE:LOAR - Get Free Report) last posted its quarterly earnings data on Monday, March 31st. The company reported $0.11 EPS for the quarter, hitting analysts' consensus estimates of $0.11. The business had revenue of $110.40 million during the quarter, compared to analyst estimates of $102.51 million. Loar's quarterly revenue was up 27.8% compared to the same quarter last year. As a group, equities analysts predict that Loar Holdings, LLC will post 0.28 earnings per share for the current year.

Analyst Upgrades and Downgrades

LOAR has been the subject of several analyst reports. Royal Bank of Canada restated an "outperform" rating and set a $92.00 target price on shares of Loar in a research report on Tuesday, April 1st. Morgan Stanley raised Loar from an "equal weight" rating to an "overweight" rating and set a $91.00 price objective for the company in a report on Thursday, April 3rd.

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.