State Street Corp Buys 335,376 Shares of Loar Holdings, LLC (NYSE:LOAR)

State Street Corp lifted its position in shares of Loar Holdings, LLC (NYSE:LOAR - Free Report) by 413.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 416,531 shares of the company's stock after acquiring an additional 335,376 shares during the period. State Street Corp owned approximately 0.46% of Loar worth $31,069,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in LOAR. Select Equity Group L.P. bought a new position in Loar in the second quarter valued at about $911,000. Emerald Advisers LLC bought a new stake in shares of Loar during the 2nd quarter valued at approximately $1,146,000. Lisanti Capital Growth LLC acquired a new position in Loar during the 3rd quarter worth approximately $2,667,000. The Manufacturers Life Insurance Company bought a new position in Loar in the 3rd quarter valued at approximately $1,247,000. Finally, Abrams Capital Management L.P. acquired a new stake in Loar in the second quarter valued at approximately $2,052,780,000.

Insider Activity

In other news, insider Michael J. Manella sold 28,153 shares of the business's stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $81.17, for a total value 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. The trade was a 4.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Brett N. Milgrim sold 120,305 shares of the firm's stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $81.17, for a total value of $9,765,156.85. Following the sale, the chairman now directly owns 3,865,327 shares of the company's stock, valued at $313,748,592.59. This represents a 3.02 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,135,706 shares of company stock valued at $92,185,256.

Loar Trading Down 1.4 %

NYSE LOAR traded down $1.06 on Friday, hitting $72.83. The company's stock had a trading volume of 2,159,717 shares, compared to its average volume of 357,032. The company's 50-day moving average is $84.44 and its 200 day moving average is $72.23. Loar Holdings, LLC has a 1-year low of $42.57 and a 1-year high of $96.99. The company has a current ratio of 3.95, a quick ratio of 2.28 and a debt-to-equity ratio of 0.78.

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

Analyst Ratings Changes

LOAR has been the subject of several research analyst reports. Royal Bank of Canada reiterated an "outperform" rating and set a $100.00 price target on shares of Loar in a report on Thursday, November 14th. Morgan Stanley upped their target price on Loar from $75.00 to $89.00 and gave the stock an "equal weight" rating in a report on Monday, November 18th.

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.