Loar Holdings, LLC (NYSE:LOAR) Shares Sold by Fmr LLC

Fmr LLC cut its stake in Loar Holdings, LLC (NYSE:LOAR) by 23.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 486,096 shares of the company’s stock after selling 145,844 shares during the period. Fmr LLC owned approximately 0.54% of Loar worth $36,258,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company purchased a new stake in shares of Loar in the 3rd quarter valued at approximately $1,247,000. Loomis Sayles & Co. L P grew its position in Loar by 47.3% in the 3rd 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 in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Loar by 52.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 106,897 shares of the company’s stock worth $7,973,000 after purchasing an additional 36,701 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new position in shares of Loar in the third quarter valued at approximately $230,000. Finally, Lisanti Capital Growth LLC acquired a new position in shares of Loar in the third quarter valued at approximately $2,667,000.

Loar Price Performance

Shares of Loar stock opened at $92.00 on Monday. The company has a 50-day moving average of $83.23 and a two-hundred day moving average of $70.53. Loar Holdings, LLC has a 12-month low of $42.57 and a 12-month high of $96.60. The company has a quick ratio of 2.28, a current ratio of 3.95 and a debt-to-equity ratio of 0.78.

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

Wall Street Analysts Forecast Growth

LOAR has been the subject of several recent research reports. Morgan Stanley boosted their price objective on Loar from $75.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Monday, November 18th. Royal Bank of Canada restated an “outperform” rating and set a $100.00 target price on shares of Loar in a research note on Thursday, November 14th. Finally, Citigroup boosted their price objective on shares of Loar from $64.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th.

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.