HighTower Advisors LLC Invests $290,000 in Loar Holdings, LLC (NYSE:LOAR)

HighTower Advisors LLC acquired a new stake in Loar Holdings, LLC (NYSE:LOAR) during the third quarter, according to its most recent 13F filing with the SEC. The fund acquired 3,956 shares of the company’s stock, valued at approximately $290,000.

Several other institutional investors have also added to or reduced their stakes in the business. Holocene Advisors LP purchased a new position in shares of Loar in the third quarter worth about $267,000. PDT Partners LLC bought a new position in Loar in the 3rd quarter worth approximately $1,636,000. Verition Fund Management LLC purchased a new position in Loar in the 3rd quarter valued at approximately $727,000. Captrust Financial Advisors raised its holdings in Loar by 9.8% during the 3rd quarter. Captrust Financial Advisors now owns 10,471 shares of the company’s stock valued at $781,000 after acquiring an additional 938 shares during the period. Finally, BNP Paribas Financial Markets lifted its position in shares of Loar by 3,444.3% during the third quarter. BNP Paribas Financial Markets now owns 10,633 shares of the company’s stock worth $793,000 after acquiring an additional 10,333 shares in the last quarter.

Insider Activity at Loar

In related news, Director Raja Bobbili sold 987,248 shares of Loar stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $81.17, for a total value of $80,134,920.16. Following the transaction, the director now owns 36,713,441 shares in the company, valued at $2,980,030,005.97. This trade represents a 2.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael J. Manella sold 28,153 shares of Loar 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 $2,285,179.01. Following the completion of the transaction, the insider now directly owns 580,388 shares in the company, valued at $47,110,093.96. This trade represents a 4.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,135,706 shares of company stock valued at $92,185,256 over the last three months.

Loar Trading Up 2.0 %

Loar stock opened at $74.29 on Tuesday. 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 Holdings, LLC has a fifty-two week low of $42.57 and a fifty-two week high of $96.99. The firm’s fifty day moving average price is $84.38 and its 200-day moving average price is $72.34.

Loar (NYSE:LOAR) 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 business had revenue of $103.52 million during the quarter, compared to the consensus estimate of $97.30 million. The business’s quarterly revenue was up 25.0% on a year-over-year basis. As a group, analysts forecast that Loar Holdings, LLC will post 0.28 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on LOAR. Royal Bank of Canada reiterated an “outperform” rating and issued a $100.00 price target on shares of Loar in a research report on Thursday, November 14th. Morgan Stanley lifted their target price on Loar from $75.00 to $89.00 and gave the company an “equal weight” rating in a report on Monday, November 18th.

Loar Company 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.