Loar Holdings, LLC (NYSE:LOAR) Shares Sold by Truist Financial Corp

Truist Financial Corp decreased its position in Loar Holdings, LLC (NYSE:LOAR) by 9.6% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,784 shares of the company’s stock after selling 402 shares during the period. Truist Financial Corp’s holdings in Loar were worth $280,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Lord Abbett & CO. LLC grew its stake in Loar by 71.7% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,009,558 shares of the company’s stock valued at $75,303,000 after acquiring an additional 421,637 shares during the last quarter. State Street Corp lifted its holdings in shares of Loar by 413.3% in the third 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 lifted its holdings in shares of Loar by 57.3% in the third quarter. TimesSquare Capital Management LLC now owns 410,509 shares of the company’s stock valued at $30,620,000 after purchasing an additional 149,460 shares in the last quarter. Loomis Sayles & Co. L P grew its position in shares of Loar by 47.3% in the third quarter. Loomis Sayles & Co. L P now owns 275,500 shares of the company’s stock valued at $20,550,000 after purchasing an additional 88,429 shares during the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in shares of Loar during the 4th quarter worth approximately $5,053,000.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on LOAR. 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. Royal Bank of Canada reduced their price objective on Loar from $100.00 to $92.00 and set an “outperform” rating on the stock in a research report on Monday, February 24th.

Insider Buying and Selling

In other Loar news, insider Michael J. Manella sold 28,153 shares of the company’s stock in a transaction dated 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 directly owns 580,388 shares in the company, valued at $47,110,093.96. This represents a 4.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Brett N. Milgrim sold 120,305 shares of the business’s 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 $9,765,156.85. Following the sale, the chairman now owns 3,865,327 shares of the company’s stock, valued at approximately $313,748,592.59. This represents a 3.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,135,706 shares of company stock worth $92,185,256.

Loar Stock Performance

NYSE:LOAR opened at $71.66 on Thursday. Loar Holdings, LLC has a 1-year low of $42.57 and a 1-year high of $96.99. The firm has a 50 day simple moving average of $74.66 and a 200-day simple moving average of $77.75. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.95 and a quick ratio of 2.28.

Loar 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.