Loomis Sayles & Co. L P Has $20.55 Million Stock Position in Loar Holdings, LLC (NYSE:LOAR)

Loomis Sayles & Co. L P grew its stake in shares of Loar Holdings, LLC (NYSE:LOAR - Free Report) by 47.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 275,500 shares of the company's stock after acquiring an additional 88,429 shares during the period. Loomis Sayles & Co. L P owned about 0.31% of Loar worth $20,550,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Abrams Capital Management L.P. acquired a new position in Loar in the second quarter valued at approximately $2,052,780,000. Federated Hermes Inc. bought a new stake in Loar in the 2nd quarter valued at about $38,952,000. TimesSquare Capital Management LLC boosted its stake in Loar by 57.3% during the 3rd quarter. TimesSquare Capital Management LLC now owns 410,509 shares of the company's stock valued at $30,620,000 after purchasing an additional 149,460 shares during the period. Fred Alger Management LLC bought a new position in Loar in the 2nd quarter worth about $13,085,000. Finally, Zweig DiMenna Associates LLC acquired a new stake in shares of Loar in the second quarter valued at approximately $9,208,000.

Loar Trading Down 0.5 %

Shares of LOAR traded down $0.42 during midday trading on Wednesday, reaching $88.83. The stock had a trading volume of 354,608 shares, compared to its average volume of 299,779. 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 firm's 50 day moving average price is $80.66 and its 200-day moving average price is $68.35. Loar Holdings, LLC has a 52 week low of $42.57 and a 52 week high of $96.60.

Loar (NYSE:LOAR - Get Free Report) last issued its quarterly earnings results on Wednesday, November 13th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.13 by $0.02. The business had revenue of $103.52 million during the quarter, compared to the consensus estimate of $97.30 million. The company's revenue was up 25.0% compared to the same quarter last year. On average, equities analysts anticipate that Loar Holdings, LLC will post 0.28 EPS for the current year.

Wall Street Analysts Forecast Growth

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

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.