Loar Holdings, LLC (NYSE:LOAR) Shares Acquired by New York State Common Retirement Fund

New York State Common Retirement Fund raised its stake in shares of Loar Holdings, LLC (NYSE:LOAR) by 14.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 101,802 shares of the company’s stock after buying an additional 12,592 shares during the period. New York State Common Retirement Fund owned approximately 0.11% of Loar worth $7,524,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LOAR. Lord Abbett & CO. LLC grew its holdings in Loar by 71.7% during the third quarter. Lord Abbett & CO. LLC now owns 1,009,558 shares of the company’s stock worth $75,303,000 after acquiring an additional 421,637 shares during the period. State Street Corp boosted its position in shares of Loar by 413.3% during the 3rd quarter. State Street Corp now owns 416,531 shares of the company’s stock valued at $31,069,000 after purchasing an additional 335,376 shares in the last quarter. TimesSquare Capital Management LLC grew its stake in shares of Loar by 57.3% in the 3rd quarter. TimesSquare Capital Management LLC now owns 410,509 shares of the company’s stock worth $30,620,000 after purchasing an additional 149,460 shares during the last quarter. Loomis Sayles & Co. L P raised its holdings in shares of Loar by 47.3% in the 3rd quarter. Loomis Sayles & Co. L P now owns 275,500 shares of the company’s stock worth $20,550,000 after purchasing an additional 88,429 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in Loar during the fourth quarter valued at approximately $5,053,000.

Insiders Place Their Bets

In other Loar news, Chairman Brett N. Milgrim sold 120,305 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $81.17, for a total value of $9,765,156.85. Following the transaction, the chairman now owns 3,865,327 shares in the company, valued at approximately $313,748,592.59. This represents a 3.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael J. Manella sold 28,153 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $81.17, for a total transaction of $2,285,179.01. Following the completion of the sale, the insider now owns 580,388 shares of the company’s stock, valued at approximately $47,110,093.96. The trade was a 4.63 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,135,706 shares of company stock worth $92,185,256.

Loar Stock Performance

LOAR stock opened at $69.52 on Thursday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.28 and a current ratio of 3.95. Loar Holdings, LLC has a 52-week low of $42.57 and a 52-week high of $96.99. The company’s 50 day simple moving average is $74.98 and its 200-day simple moving average is $77.79.

Wall Street Analyst Weigh In

Several research analysts have issued reports on LOAR shares. Morgan Stanley lifted their price target on shares of 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 cut their target price on Loar from $100.00 to $92.00 and set an “outperform” rating on the stock in a research report on Monday.

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.