Loar Holdings, LLC (NYSE:LOAR) Shares Sold by Fmr LLC

FMR LLC trimmed its position in shares of Loar Holdings, LLC (NYSE:LOAR - Free Report) by 23.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 486,096 shares of the company's stock after selling 145,844 shares during the period. FMR LLC owned about 0.54% of Loar worth $36,258,000 at the end of the most recent reporting period.

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

Loar Price Performance

LOAR stock traded down $0.67 on Monday, hitting $91.33. The company's stock had a trading volume of 480,390 shares, compared to its average volume of 300,259. The firm has a 50 day moving average of $83.23 and a two-hundred day moving average of $70.53. The company has a quick ratio of 2.28, a current ratio of 3.95 and a debt-to-equity ratio of 0.78. Loar Holdings, LLC has a 1 year low of $42.57 and a 1 year high of $96.99.

Loar (NYSE:LOAR - Get Free Report) last released its quarterly earnings results on Wednesday, November 13th. The company reported $0.15 earnings per share (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 analysts' expectations of $97.30 million. Loar's quarterly revenue was up 25.0% compared to the same quarter last year. Research analysts expect that Loar Holdings, LLC will post 0.28 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Morgan Stanley boosted their target price on Loar from $75.00 to $89.00 and gave the stock an "equal weight" rating in a research note on Monday, November 18th. Citigroup upped their target price on shares of Loar from $64.00 to $88.00 and gave the company a "buy" rating in a report on Tuesday, August 20th. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $100.00 price target on shares of Loar in a research note on Thursday, November 14th.

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.