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The Manufacturers Life Insurance Company Invests $1.25 Million in Loar Holdings, LLC (NYSE:LOAR)

Loar logo with Aerospace background

The Manufacturers Life Insurance Company bought a new stake in Loar Holdings, LLC (NYSE:LOAR - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 16,717 shares of the company's stock, valued at approximately $1,247,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Loomis Sayles & Co. L P grew its stake in Loar by 47.3% in the third quarter. Loomis Sayles & Co. L P now owns 275,500 shares of the company's stock valued at $20,550,000 after acquiring an additional 88,429 shares during the period. Charles Schwab Investment Management Inc. grew its stake in 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 acquiring an additional 36,701 shares during the period. Oppenheimer Asset Management Inc. acquired a new position in Loar in the third quarter valued at about $230,000. Lisanti Capital Growth LLC acquired a new position in Loar in the third quarter valued at about $2,667,000. Finally, TimesSquare Capital Management LLC grew its stake in Loar by 57.3% in the third quarter. TimesSquare Capital Management LLC now owns 410,509 shares of the company's stock valued at $30,620,000 after acquiring an additional 149,460 shares during the period.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Citigroup upped their price objective on Loar from $64.00 to $88.00 and gave the stock a "buy" rating in a research report on Tuesday, August 20th. Morgan Stanley increased their price target on Loar from $75.00 to $89.00 and gave the company an "equal weight" rating in a research report on Monday, November 18th. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $100.00 price target on shares of Loar in a research report on Thursday, November 14th.

Read Our Latest Report on Loar

Loar Stock Performance

NYSE:LOAR traded down $3.84 on Thursday, hitting $80.44. The company's stock had a trading volume of 854,131 shares, compared to its average volume of 327,755. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.95 and a quick ratio of 2.28. The stock has a fifty day moving average of $84.10 and a two-hundred day moving average of $71.11. Loar Holdings, LLC has a one year low of $42.57 and a one year high of $96.99.

Loar (NYSE:LOAR - Get Free Report) last announced its earnings results on Wednesday, November 13th. The company reported $0.15 earnings per share for the quarter, topping analysts' consensus estimates of $0.13 by $0.02. The firm had revenue of $103.52 million for the quarter, compared to the consensus estimate of $97.30 million. The company's quarterly revenue was up 25.0% compared to the same quarter last year. Research analysts expect that Loar Holdings, LLC will post 0.28 earnings per share for the current fiscal year.

Loar Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Loar (NYSE:LOAR)

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