Moody Aldrich Partners LLC Sells 19,737 Shares of Loar Holdings, LLC (NYSE:LOAR)

Moody Aldrich Partners LLC reduced its stake in shares of Loar Holdings, LLC (NYSE:LOAR - Free Report) by 21.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 74,404 shares of the company's stock after selling 19,737 shares during the period. Moody Aldrich Partners LLC owned about 0.08% of Loar worth $5,550,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. TCW Group Inc. bought a new stake in Loar in the 2nd quarter valued at about $7,366,000. Select Equity Group L.P. purchased a new stake in shares of Loar during the 2nd quarter valued at approximately $911,000. Emerald Advisers LLC bought a new position in Loar in the 2nd quarter worth approximately $1,146,000. Abrams Capital Management L.P. bought a new position in Loar in the 2nd quarter worth approximately $2,052,780,000. Finally, Picton Mahoney Asset Management purchased a new position in Loar in the 2nd quarter valued at approximately $964,000.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on LOAR shares. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $80.00 price target on shares of Loar in a report on Monday, October 7th. Morgan Stanley lifted their target price on Loar from $70.00 to $75.00 and gave the company an "equal weight" rating in a report on Friday, October 18th. Finally, Citigroup upped their price target on Loar from $64.00 to $88.00 and gave the company a "buy" rating in a research report on Tuesday, August 20th.

Loar Price Performance

Shares of Loar stock traded down $0.08 during trading on Thursday, hitting $79.99. 134,084 shares of the stock traded hands, compared to its average volume of 284,285. The business has a fifty day simple moving average of $74.35. Loar Holdings, LLC has a 52 week low of $42.57 and a 52 week high of $82.48. The company has a current ratio of 4.86, a quick ratio of 3.09 and a debt-to-equity ratio of 0.33.

Loar (NYSE:LOAR - Get Free Report) last posted its quarterly earnings results on Tuesday, August 13th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.10 by $0.03. The business had revenue of $97.10 million for the quarter, compared to analysts' expectations of $91.70 million. Loar's revenue was up 31.2% compared to the same quarter last year. Sell-side analysts forecast that Loar Holdings, LLC will post 0.37 EPS for the current fiscal year.

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.