JPMorgan Chase & Co. Has $21.11 Million Stock Position in Loar Holdings, LLC (NYSE:LOAR)

JPMorgan Chase & Co. reduced its stake in Loar Holdings, LLC (NYSE:LOAR - Free Report) by 12.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 282,993 shares of the company's stock after selling 40,786 shares during the period. JPMorgan Chase & Co. owned about 0.32% of Loar worth $21,108,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Bank of New York Mellon Corp bought a new stake in Loar during the 2nd quarter worth $439,000. Rhumbline Advisers acquired a new position in shares of Loar in the second quarter valued at approximately $523,000. TD Asset Management Inc bought a new position in Loar in the 2nd quarter valued at approximately $545,000. Victory Capital Management Inc. bought a new position in Loar in the 2nd quarter valued at approximately $470,000. Finally, Federated Hermes Inc. acquired a new stake in Loar during the 2nd quarter worth approximately $38,952,000.

Insider Activity at Loar

In related news, insider Michael J. Manella sold 28,153 shares of the company's stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $81.17, for a total transaction of $2,285,179.01. Following the transaction, the insider now directly owns 580,388 shares of the company's stock, valued at approximately $47,110,093.96. This represents a 4.63 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Raja Bobbili sold 987,248 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $81.17, for a total value of $80,134,920.16. Following the completion of the transaction, the director now owns 36,713,441 shares in the company, valued at approximately $2,980,030,005.97. The trade was a 2.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,135,706 shares of company stock worth $92,185,256 in the last 90 days.

Loar Trading Down 3.0 %

Shares of NYSE LOAR traded down $2.26 during midday trading on Thursday, reaching $72.62. The stock had a trading volume of 836,725 shares, compared to its average volume of 622,545. Loar Holdings, LLC has a twelve month low of $42.57 and a twelve month high of $96.99. The company has a quick ratio of 2.28, a current ratio of 3.95 and a debt-to-equity ratio of 0.78. The company's 50 day moving average price is $82.82 and its 200 day moving average price is $73.54.

Loar (NYSE:LOAR - Get Free Report) last issued its quarterly earnings results on Wednesday, November 13th. The company reported $0.15 EPS for the quarter, beating analysts' consensus estimates of $0.13 by $0.02. The firm had revenue of $103.52 million for the quarter, compared to the consensus estimate of $97.30 million. The firm's quarterly revenue was up 25.0% compared to the same quarter last year. Analysts forecast that Loar Holdings, LLC will post 0.28 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on LOAR shares. Royal Bank of Canada reaffirmed an "outperform" rating and set a $100.00 price target on shares of Loar in a research note on Thursday, November 14th. Morgan Stanley raised their target price on Loar from $75.00 to $89.00 and gave the stock an "equal weight" rating in a research report on Monday, November 18th.

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.