Abrams Capital Management L.P. Has $2.77 Billion Position in Loar Holdings, LLC (NYSE:LOAR)

Abrams Capital Management L.P. decreased its holdings in Loar Holdings, LLC (NYSE:LOAR - Free Report) by 2.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,427,917 shares of the company's stock after selling 1,006,461 shares during the period. Loar comprises 44.5% of Abrams Capital Management L.P.'s portfolio, making the stock its largest holding. Abrams Capital Management L.P. owned about 41.72% of Loar worth $2,766,297,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in LOAR. Lisanti Capital Growth LLC grew its stake in shares of Loar by 6.2% in the 4th quarter. Lisanti Capital Growth LLC now owns 37,976 shares of the company's stock valued at $2,807,000 after buying an additional 2,225 shares in the last quarter. Aigen Investment Management LP bought a new stake in shares of Loar in the 4th quarter valued at approximately $262,000. M&T Bank Corp bought a new stake in shares of Loar in the 4th quarter valued at approximately $306,000. Charles Schwab Investment Management Inc. grew its stake in shares of Loar by 54.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 164,884 shares of the company's stock valued at $12,187,000 after buying an additional 57,987 shares in the last quarter. Finally, Amalgamated Bank grew its stake in shares of 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 in the last quarter.

Loar Trading Up 4.0 %

Loar stock traded up $2.56 during trading hours on Friday, reaching $66.01. 292,319 shares of the company were exchanged, compared to its average volume of 393,627. 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 stock has a 50-day moving average of $73.47 and a 200 day moving average of $77.43. Loar Holdings, LLC has a 12 month low of $42.57 and a 12 month high of $96.99.

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Analyst Ratings Changes

A number of brokerages have issued reports on LOAR. Royal Bank of Canada decreased their target price on Loar from $100.00 to $92.00 and set an "outperform" rating for the company in a research report on Monday, February 24th. Morgan Stanley upped 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.

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.