Loar (NYSE:LOAR) Stock Price Down 5.3% - Here's Why

Loar Holdings, LLC (NYSE:LOAR - Get Free Report) fell 5.3% during mid-day trading on Friday . The company traded as low as $65.69 and last traded at $66.14. 231,070 shares traded hands during mid-day trading, a decline of 32% from the average session volume of 338,328 shares. The stock had previously closed at $69.86.

Analyst Ratings Changes

LOAR has been the subject of several recent research reports. Royal Bank of Canada restated an "outperform" rating and set a $100.00 target price on shares of Loar in a report on Thursday, November 14th. Morgan Stanley upped their target price on Loar from $75.00 to $89.00 and gave the stock an "equal weight" rating in a report on Monday, November 18th.

Loar Stock Performance

The firm has a 50 day simple moving average of $76.55 and a 200-day simple moving average of $77.44. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.95 and a quick ratio of 2.28.

Insider Buying and Selling at Loar

In other Loar news, Chairman Brett N. Milgrim sold 120,305 shares of the firm'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 transaction of $9,765,156.85. Following the completion of the sale, the chairman now directly owns 3,865,327 shares in the company, valued at $313,748,592.59. This trade represents a 3.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Michael J. Manella sold 28,153 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 $2,285,179.01. Following the completion of the transaction, the insider now directly owns 580,388 shares in the company, valued at $47,110,093.96. The trade was a 4.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,135,706 shares of company stock valued at $92,185,256 in the last quarter.

Institutional Investors Weigh In On Loar

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in Loar by 132.4% during the fourth quarter. Vanguard Group Inc. now owns 2,721,325 shares of the company's stock worth $201,133,000 after acquiring an additional 1,550,581 shares during the period. TimesSquare Capital Management LLC raised its position in shares of Loar by 159.8% in the fourth quarter. TimesSquare Capital Management LLC now owns 1,066,525 shares of the company's stock valued at $78,827,000 after buying an additional 656,016 shares in the last quarter. Wasatch Advisors LP bought a new stake in shares of Loar in the fourth quarter valued at approximately $40,347,000. Lord Abbett & CO. LLC grew its position in Loar by 71.7% during the third quarter. Lord Abbett & CO. LLC now owns 1,009,558 shares of the company's stock worth $75,303,000 after buying an additional 421,637 shares in the last quarter. Finally, Norges Bank bought a new position in Loar during the 4th quarter worth $30,326,000.

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.