Loar Holdings, LLC (NYSE:LOAR) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC raised its stake in shares of Loar Holdings, LLC (NYSE:LOAR) by 1.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 175,575 shares of the company’s stock after buying an additional 2,551 shares during the quarter. Geode Capital Management LLC owned about 0.20% of Loar worth $13,100,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Bank of New York Mellon Corp acquired a new stake in shares of Loar during the second quarter valued at $439,000. Rhumbline Advisers acquired a new stake in shares of Loar during the 2nd quarter worth about $523,000. Roubaix Capital LLC purchased a new stake in shares of Loar during the second quarter worth about $3,537,000. TD Asset Management Inc acquired a new position in shares of Loar in the second quarter valued at approximately $545,000. Finally, Victory Capital Management Inc. purchased a new position in shares of Loar during the second quarter valued at approximately $470,000.

Wall Street Analyst Weigh In

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

Loar Trading Down 0.6 %

NYSE:LOAR opened at $74.43 on Tuesday. The firm’s 50 day moving average is $84.17 and its two-hundred day moving average is $72.85. Loar Holdings, LLC has a fifty-two week low of $42.57 and a fifty-two week high of $96.99. 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 issued its 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 firm had revenue of $103.52 million during the quarter, compared to analysts’ expectations of $97.30 million. The firm’s quarterly revenue was up 25.0% on a year-over-year basis. On average, equities research analysts predict that Loar Holdings, LLC will post 0.28 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Michael J. Manella sold 28,153 shares of the firm’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $81.17, for a total value of $2,285,179.01. Following the transaction, the insider now owns 580,388 shares of the company’s stock, valued at approximately $47,110,093.96. This trade represents a 4.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Brett N. Milgrim sold 120,305 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $81.17, for a total transaction of $9,765,156.85. Following the sale, the chairman now directly owns 3,865,327 shares of the company’s stock, valued at approximately $313,748,592.59. This trade represents a 3.02 % 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 in the last three months.

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.