43,654 Shares in Loar Holdings, LLC (NYSE:LOAR) Bought by Pamalican Asset Management Ltd

Pamalican Asset Management Ltd acquired a new stake in shares of Loar Holdings, LLC (NYSE:LOAR - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 43,654 shares of the company's stock, valued at approximately $3,226,000. Loar makes up approximately 1.4% of Pamalican Asset Management Ltd's portfolio, making the stock its 25th largest holding.

A number of other institutional investors have also bought and sold shares of LOAR. Discovery Capital Management LLC CT purchased a new position in shares of Loar during the 4th quarter worth $4,435,000. Geode Capital Management LLC raised its stake in shares of Loar by 93.9% in the 4th quarter. Geode Capital Management LLC now owns 340,487 shares of the company's stock valued at $25,172,000 after acquiring an additional 164,912 shares during the period. Franklin Resources Inc. boosted its position in shares of Loar by 1.1% during the 4th quarter. Franklin Resources Inc. now owns 190,825 shares of the company's stock worth $14,104,000 after purchasing an additional 2,059 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in Loar during the fourth quarter worth $1,585,000. Finally, Norges Bank purchased a new position in shares of Loar during the fourth quarter worth $30,326,000.

Loar Stock Up 10.6 %

Shares of LOAR traded up $7.99 during midday trading on Wednesday, reaching $83.28. The stock had a trading volume of 305,768 shares, compared to its average volume of 418,918. The company has a market cap of $7.79 billion and a price-to-earnings ratio of 347.12. The company's fifty day simple moving average is $70.43 and its two-hundred day simple moving average is $76.89. Loar Holdings, LLC has a 1-year low of $42.57 and a 1-year high of $96.99. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.95 and a quick ratio of 2.28.

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on LOAR. Morgan Stanley upgraded shares of Loar from an "equal weight" rating to an "overweight" rating and set a $91.00 price target on the stock in a research note on Thursday, April 3rd. Royal Bank of Canada reissued an "outperform" rating and issued a $92.00 price target on shares of Loar in a research report on Tuesday, April 1st.

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.