New York State Common Retirement Fund lifted its position in Loar Holdings, LLC (NYSE:LOAR - Free Report) by 14.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 101,802 shares of the company's stock after acquiring an additional 12,592 shares during the period. New York State Common Retirement Fund owned 0.11% of Loar worth $7,524,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also modified their holdings of LOAR. TimesSquare Capital Management LLC lifted its stake in Loar by 57.3% during the third quarter. TimesSquare Capital Management LLC now owns 410,509 shares of the company's stock worth $30,620,000 after purchasing an additional 149,460 shares in the last quarter. Lisanti Capital Growth LLC acquired a new stake in shares of Loar during the 3rd quarter worth about $2,667,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of Loar during the 3rd quarter worth approximately $230,000. Charles Schwab Investment Management Inc. lifted its position in Loar by 52.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 106,897 shares of the company's stock valued at $7,973,000 after acquiring an additional 36,701 shares during the last quarter. Finally, Loomis Sayles & Co. L P lifted its holdings in shares of Loar by 47.3% in the 3rd quarter. Loomis Sayles & Co. L P now owns 275,500 shares of the company's stock valued at $20,550,000 after purchasing an additional 88,429 shares during the last quarter.
Insider Buying and Selling at Loar
In related news, Director Raja Bobbili sold 987,248 shares of Loar stock in a transaction dated 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 transaction, the director now owns 36,713,441 shares of the company's stock, valued at approximately $2,980,030,005.97. This trade represents a 2.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Brett N. Milgrim sold 120,305 shares of Loar 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 $9,765,156.85. Following the transaction, the chairman now owns 3,865,327 shares in the company, valued at approximately $313,748,592.59. The trade was a 3.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,135,706 shares of company stock valued at $92,185,256 in the last quarter.
Loar Stock Up 7.1 %
LOAR traded up $4.82 during trading hours on Friday, hitting $72.97. 1,146,312 shares of the stock were exchanged, compared to its average volume of 382,134. Loar Holdings, LLC has a 12 month low of $42.57 and a 12 month high of $96.99. The stock has a 50-day simple moving average of $74.87 and a 200-day simple moving average of $77.83. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.28 and a current ratio of 3.95.
Wall Street Analyst Weigh In
Several brokerages have weighed in on LOAR. Royal Bank of Canada lowered their target price on Loar from $100.00 to $92.00 and set an "outperform" rating on the stock in a research note on Monday, February 24th. Morgan Stanley lifted their price target on shares of Loar from $75.00 to $89.00 and gave the company an "equal weight" rating in a research report on Monday, November 18th.
Check Out Our Latest Analysis on Loar
About Loar
(
Free Report)
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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