Rhumbline Advisers Raises Stock Position in Loar Holdings, LLC (NYSE:LOAR)

Rhumbline Advisers raised its stake in shares of Loar Holdings, LLC (NYSE:LOAR - Free Report) by 149.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,762 shares of the company's stock after purchasing an additional 16,055 shares during the quarter. Rhumbline Advisers' holdings in Loar were worth $1,978,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. R Squared Ltd purchased a new position in shares of Loar in the 4th quarter valued at approximately $95,000. Barclays PLC lifted its position in Loar by 871.3% during the third quarter. Barclays PLC now owns 2,943 shares of the company's stock valued at $219,000 after buying an additional 2,640 shares during the period. Entropy Technologies LP bought a new stake in shares of Loar during the 4th quarter valued at $222,000. Oppenheimer Asset Management Inc. bought a new stake in shares of Loar during the 3rd quarter valued at $230,000. Finally, Holocene Advisors LP purchased a new stake in shares of Loar in the 3rd quarter worth about $267,000.

Loar Price Performance

Shares of LOAR traded down $1.15 during trading hours on Friday, hitting $67.23. The company had a trading volume of 237,123 shares, compared to its average volume of 373,445. The firm has a fifty day moving average price of $74.42 and a 200-day moving average price of $77.65. Loar Holdings, LLC has a 52-week low of $42.57 and a 52-week 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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Analyst Upgrades and Downgrades

LOAR has been the topic of several research reports. Morgan Stanley boosted their price objective on shares of Loar from $75.00 to $89.00 and gave the stock an "equal weight" rating in a research note on Monday, November 18th. Royal Bank of Canada lowered their target price on shares of Loar from $100.00 to $92.00 and set an "outperform" rating for the company in a report on Monday, February 24th.

Insider Buying and Selling at Loar

In other news, insider Michael J. Manella sold 28,153 shares of the company's stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $81.17, for a total transaction of $2,285,179.01. Following the transaction, the insider now directly owns 580,388 shares of the company's stock, valued at $47,110,093.96. This represents a 4.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Raja Bobbili sold 987,248 shares of the stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $81.17, for a total value of $80,134,920.16. Following the sale, the director now directly owns 36,713,441 shares in the company, valued at $2,980,030,005.97. This trade represents a 2.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,135,706 shares of company stock worth $92,185,256.

Loar 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.