Treasurer of the State of North Carolina Has $979,000 Stake in Loar Holdings, LLC (NYSE:LOAR)

Treasurer of the State of North Carolina lifted its stake in shares of Loar Holdings, LLC (NYSE:LOAR - Free Report) by 187.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,240 shares of the company's stock after purchasing an additional 8,630 shares during the period. Treasurer of the State of North Carolina's holdings in Loar were worth $979,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. State Street Corp lifted its position in shares of Loar by 413.3% in the third quarter. State Street Corp now owns 416,531 shares of the company's stock valued at $31,069,000 after buying an additional 335,376 shares during the last quarter. M&T Bank Corp bought a new position in Loar during the fourth quarter worth $306,000. New York State Common Retirement Fund increased its holdings in shares of Loar by 14.1% in the fourth quarter. New York State Common Retirement Fund now owns 101,802 shares of the company's stock valued at $7,524,000 after purchasing an additional 12,592 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Loar in the fourth quarter valued at about $1,585,000. Finally, Renaissance Capital LLC lifted its stake in shares of Loar by 411.5% during the 4th quarter. Renaissance Capital LLC now owns 58,275 shares of the company's stock worth $4,307,000 after buying an additional 46,883 shares during the last quarter.

Analyst Upgrades and Downgrades

LOAR has been the topic of several research analyst reports. Royal Bank of Canada reissued an "outperform" rating and issued a $92.00 price target on shares of Loar in a report on Tuesday, April 1st. Morgan Stanley upgraded Loar from an "equal weight" rating to an "overweight" rating and set a $91.00 price target for the company in a research note on Thursday, April 3rd.

Loar Price Performance

LOAR stock traded up $0.26 during mid-day trading on Tuesday, hitting $81.95. The stock had a trading volume of 224,939 shares, compared to its average volume of 424,881. The firm has a fifty day simple moving average of $72.16 and a 200 day simple moving average of $77.75. Loar Holdings, LLC has a 52 week low of $42.57 and a 52 week 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. The firm has a market capitalization of $7.67 billion and a P/E ratio of 341.38.

Loar (NYSE:LOAR - Get Free Report) last issued its quarterly earnings results on Monday, March 31st. The company reported $0.11 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.11. The business had revenue of $110.40 million during the quarter, compared to the consensus estimate of $102.51 million. The company's revenue for the quarter was up 27.8% on a year-over-year basis. As a group, research analysts forecast that Loar Holdings, LLC will post 0.28 EPS for the current year.

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.