Capital Research Global Investors Has $26.33 Million Stake in Loar Holdings, LLC (NYSE:LOAR)

Capital Research Global Investors reduced its holdings in shares of Loar Holdings, LLC (NYSE:LOAR - Free Report) by 40.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 356,179 shares of the company's stock after selling 243,821 shares during the quarter. Capital Research Global Investors owned 0.40% of Loar worth $26,325,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Sterling Capital Management LLC boosted its holdings in shares of Loar by 141.5% during the 4th quarter. Sterling Capital Management LLC now owns 500 shares of the company's stock valued at $37,000 after acquiring an additional 293 shares in the last quarter. Corebridge Financial Inc. boosted its stake in shares of Loar by 174.3% during the fourth quarter. Corebridge Financial Inc. now owns 524 shares of the company's stock valued at $39,000 after purchasing an additional 333 shares in the last quarter. Arcadia Investment Management Corp MI bought a new stake in shares of Loar during the fourth quarter worth about $61,000. R Squared Ltd acquired a new position in shares of Loar in the fourth quarter valued at approximately $95,000. Finally, Amalgamated Bank raised its holdings in Loar by 190.7% in the 4th quarter. Amalgamated Bank now owns 2,000 shares of the company's stock valued at $148,000 after buying an additional 1,312 shares during the last quarter.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Royal Bank of Canada reissued an "outperform" rating and set a $92.00 target price on shares of Loar in a report on Tuesday, April 1st. Morgan Stanley raised Loar from an "equal weight" rating to an "overweight" rating and set a $91.00 target price for the company in a research report on Thursday, April 3rd.

Loar Trading Up 7.1 %

Shares of LOAR stock traded up $6.10 during mid-day trading on Thursday, hitting $92.04. The company's stock had a trading volume of 839,107 shares, compared to its average volume of 427,741. 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 quick ratio of 2.28 and a current ratio of 3.95. The company's fifty day simple moving average is $72.78 and its 200-day simple moving average is $77.84. The company has a market cap of $8.61 billion and a PE ratio of 383.50.

Loar (NYSE:LOAR - Get Free Report) last issued 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 business had revenue of $110.40 million during the quarter, compared to analyst estimates of $102.51 million. Loar's revenue was up 27.8% compared to the same quarter last year. As a group, equities research analysts expect that Loar Holdings, LLC will post 0.28 earnings per share for the current fiscal year.

About Loar

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.