Primecap Management Co. CA Sells 11,020 Shares of Loar Holdings, LLC (NYSE:LOAR)

Primecap Management Co. CA lowered its stake in Loar Holdings, LLC (NYSE:LOAR - Free Report) by 56.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,380 shares of the company's stock after selling 11,020 shares during the period. Primecap Management Co. CA's holdings in Loar were worth $625,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LOAR. Arcadia Investment Management Corp MI purchased a new stake in shares of Loar in the second quarter valued at approximately $26,000. nVerses Capital LLC purchased a new stake in shares of Loar during the 3rd quarter valued at $45,000. Amalgamated Bank purchased a new position in Loar in the 2nd quarter worth $37,000. Linonia Partnership LP purchased a new position in Loar in the 2nd quarter worth $53,000. Finally, RiverPark Advisors LLC acquired a new stake in Loar during the 2nd quarter worth about $155,000.

Analyst Ratings Changes

LOAR has been the topic of a number of research reports. Citigroup raised their target price on shares of Loar from $64.00 to $88.00 and gave the stock a "buy" rating in a research note on Tuesday, August 20th. Royal Bank of Canada reiterated an "outperform" rating and issued a $100.00 target price on shares of Loar in a report on Thursday, November 14th. Finally, Morgan Stanley lifted their target price on shares of Loar from $75.00 to $89.00 and gave the company an "equal weight" rating in a report on Monday, November 18th.

Loar Trading Up 4.0 %

Shares of Loar stock traded up $3.60 during trading hours on Friday, reaching $94.34. The company's stock had a trading volume of 238,543 shares, compared to its average volume of 392,179. The company's 50 day simple moving average is $80.14 and its 200 day simple moving average is $67.49. The company has a current ratio of 3.95, a quick ratio of 2.28 and a debt-to-equity ratio of 0.78. Loar Holdings, LLC has a one year low of $42.57 and a one year high of $95.35.

Loar (NYSE:LOAR - Get Free Report) last released its quarterly earnings results on Wednesday, November 13th. The company reported $0.15 EPS for the quarter, topping analysts' consensus estimates of $0.13 by $0.02. The company had revenue of $103.52 million for the quarter, compared to the consensus estimate of $97.30 million. The business's revenue for the quarter was up 25.0% on a year-over-year basis. Analysts forecast that Loar Holdings, LLC will post 0.37 earnings per share for the current year.

Loar Company 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.