Royal Bank of Canada Cuts Loar (NYSE:LOAR) Price Target to $92.00

Loar (NYSE:LOAR - Free Report) had its price target reduced by Royal Bank of Canada from $100.00 to $92.00 in a report issued on Monday,Benzinga reports. They currently have an outperform rating on the stock.

Separately, Morgan Stanley raised their price target on Loar from $75.00 to $89.00 and gave the company an "equal weight" rating in a research report on Monday, November 18th.

Loar Stock Performance

NYSE:LOAR traded down $1.18 during trading hours on Monday, hitting $68.32. The stock had a trading volume of 300,753 shares, compared to its average volume of 362,025. Loar has a one year low of $42.57 and a one year high of $96.99. The company has a 50 day simple moving average of $74.98 and a two-hundred day simple moving average of $77.79. The company has a quick ratio of 2.28, a current ratio of 3.95 and a debt-to-equity ratio of 0.78.

Insider Activity

In other news, Director Raja Bobbili sold 987,248 shares of the company's stock in a transaction that occurred on Thursday, December 12th. The shares were 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 in the company, valued at approximately $2,980,030,005.97. This represents a 2.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Brett N. Milgrim sold 120,305 shares of the business's 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 completion of the transaction, the chairman now owns 3,865,327 shares of the company's stock, 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. In the last 90 days, insiders have sold 1,135,706 shares of company stock valued at $92,185,256.

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Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. TimesSquare Capital Management LLC boosted its stake in shares of Loar by 57.3% in the 3rd quarter. TimesSquare Capital Management LLC now owns 410,509 shares of the company's stock worth $30,620,000 after buying an additional 149,460 shares during the last quarter. Lisanti Capital Growth LLC purchased a new stake in shares of Loar during the 3rd quarter valued at about $2,667,000. Oppenheimer Asset Management Inc. purchased a new position in shares of Loar in the third quarter worth approximately $230,000. Charles Schwab Investment Management Inc. grew its position in Loar by 52.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 106,897 shares of the company's stock valued at $7,973,000 after buying an additional 36,701 shares during the period. Finally, Loomis Sayles & Co. L P raised its position in Loar by 47.3% in the third quarter. Loomis Sayles & Co. L P now owns 275,500 shares of the company's stock worth $20,550,000 after acquiring an additional 88,429 shares during the period.

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.