Massachusetts Financial Services Co. MA Invests $2.18 Million in Loar Holdings, LLC (NYSE:LOAR)

Massachusetts Financial Services Co. MA purchased a new stake in shares of Loar Holdings, LLC (NYSE:LOAR) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 40,831 shares of the company’s stock, valued at approximately $2,181,000.

Several other institutional investors have also recently bought and sold shares of the business. WINTON GROUP Ltd bought a new position in shares of Loar in the second quarter worth about $205,000. Federated Hermes Inc. bought a new position in Loar in the 2nd quarter worth approximately $38,952,000. Emerald Advisers LLC acquired a new position in Loar during the 2nd quarter worth $1,146,000. Arcadia Investment Management Corp MI bought a new position in Loar in the 2nd quarter valued at $26,000. Finally, Victory Capital Management Inc. acquired a new stake in shares of Loar in the 2nd quarter valued at $470,000.

Loar Stock Performance

Loar stock opened at $74.46 on Monday. The stock’s 50-day moving average is $67.67. The company has a debt-to-equity ratio of 0.33, a current ratio of 4.86 and a quick ratio of 3.09. Loar Holdings, LLC has a 1 year low of $42.57 and a 1 year high of $80.79.

Loar (NYSE:LOAR) last posted its earnings results on Tuesday, August 13th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.03. The firm had revenue of $97.10 million during the quarter, compared to analyst estimates of $91.70 million. The company’s revenue was up 31.2% compared to the same quarter last year. On average, analysts anticipate that Loar Holdings, LLC will post 0.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Jefferies Financial Group started coverage on Loar in a report on Monday, June 3rd. They issued a “buy” rating and a $65.00 price target on the stock. Royal Bank of Canada raised their target price on shares of Loar from $65.00 to $80.00 and gave the company an “outperform” rating in a research note on Wednesday, August 14th. Citigroup boosted their price target on shares of Loar from $64.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Finally, Morgan Stanley raised their price objective on shares of Loar from $55.00 to $70.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 14th.

Loar Profile

Loar Holdings Inc is a diversified manufacturer and supplier of niche aerospace and defense components for aircraft and aerospace and defense systems. Loar Holdings Inc is based in WHITE PLAINS, NY.