Norges Bank Invests $30.33 Million in Loar Holdings, LLC (NYSE:LOAR)

Norges Bank acquired a new stake in Loar Holdings, LLC (NYSE:LOAR - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 410,316 shares of the company's stock, valued at approximately $30,326,000. Norges Bank owned about 0.46% of Loar at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in LOAR. Charles Schwab Investment Management Inc. grew its position in shares of Loar by 52.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 106,897 shares of the company's stock valued at $7,973,000 after purchasing an additional 36,701 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new stake in Loar in the 3rd quarter valued at approximately $1,247,000. BNP Paribas Financial Markets grew its holdings in Loar by 3,444.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 10,633 shares of the company's stock valued at $793,000 after buying an additional 10,333 shares during the last quarter. Captrust Financial Advisors grew its holdings in Loar by 9.8% during the 3rd quarter. Captrust Financial Advisors now owns 10,471 shares of the company's stock valued at $781,000 after buying an additional 938 shares during the last quarter. Finally, Verition Fund Management LLC purchased a new position in Loar during the third quarter worth $727,000.

Loar Trading Up 2.4 %

Shares of Loar stock traded up $2.06 during trading hours on Friday, reaching $87.95. 645,874 shares of the company's stock were exchanged, compared to its average volume of 423,324. Loar Holdings, LLC has a 52-week low of $42.57 and a 52-week high of $96.99. The company has a fifty day moving average of $71.03 and a 200-day moving average of $77.20. The company has a current ratio of 3.95, a quick ratio of 2.28 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $8.23 billion and a price-to-earnings ratio of 366.47.

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Loar (NYSE:LOAR - Get Free Report) last released its earnings results on Monday, March 31st. The company reported $0.11 earnings per share for the quarter, hitting the consensus estimate of $0.11. The business had revenue of $110.40 million for the quarter, compared to analysts' expectations of $102.51 million. The company's revenue was up 27.8% compared to the same quarter last year. Sell-side analysts forecast that Loar Holdings, LLC will post 0.28 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on LOAR shares. Royal Bank of Canada restated an "outperform" rating and issued a $92.00 price objective on shares of Loar in a research report on Tuesday, April 1st. Morgan Stanley raised shares of Loar from an "equal weight" rating to an "overweight" rating and set a $91.00 target price for the company in a research note on Thursday, April 3rd.

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.