Lord Abbett & CO. LLC Has $75.30 Million Stock Holdings in Loar Holdings, LLC (NYSE:LOAR)

Lord Abbett & CO. LLC lifted its holdings in shares of Loar Holdings, LLC (NYSE:LOAR - Free Report) by 71.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,009,558 shares of the company's stock after acquiring an additional 421,637 shares during the quarter. Lord Abbett & CO. LLC owned about 1.13% of Loar worth $75,303,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Abrams Capital Management L.P. acquired a new stake in Loar during the 2nd quarter valued at approximately $2,052,780,000. Federated Hermes Inc. bought a new position in Loar during the second quarter worth $38,952,000. State Street Corp increased its stake in Loar by 413.3% during the third quarter. State Street Corp now owns 416,531 shares of the company's stock valued at $31,069,000 after purchasing an additional 335,376 shares during the last quarter. TimesSquare Capital Management LLC lifted its position 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. Finally, Loomis Sayles & Co. L P boosted its holdings in shares of Loar by 47.3% in the 3rd quarter. Loomis Sayles & Co. L P now owns 275,500 shares of the company's stock valued at $20,550,000 after buying an additional 88,429 shares during the period.

Loar Stock Down 0.2 %

Shares of LOAR stock traded down $0.18 during mid-day trading on Friday, hitting $79.14. 925,248 shares of the stock traded hands, compared to its average volume of 334,411. The company's 50-day simple moving average is $84.38 and its 200-day simple moving average is $71.58. 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 twelve month low of $42.57 and a twelve month high of $96.99.

Loar (NYSE:LOAR - Get Free Report) last posted its quarterly earnings data on Wednesday, November 13th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.02. The company had revenue of $103.52 million for the quarter, compared to analyst estimates of $97.30 million. The business's revenue was up 25.0% on a year-over-year basis. Equities research analysts forecast that Loar Holdings, LLC will post 0.28 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Citigroup raised their target price on Loar from $64.00 to $88.00 and gave the company a "buy" rating in a research note on Tuesday, August 20th. Royal Bank of Canada reissued an "outperform" rating and set a $100.00 target price on shares of Loar in a research note on Thursday, November 14th. Finally, Morgan Stanley lifted their price target on Loar from $75.00 to $89.00 and gave the company an "equal weight" rating in a 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.