Sei Investments Co. Cuts Stock Position in Loar Holdings, LLC (NYSE:LOAR)

Sei Investments Co. lessened its holdings in Loar Holdings, LLC (NYSE:LOAR) by 6.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 28,138 shares of the company’s stock after selling 2,030 shares during the period. Sei Investments Co.’s holdings in Loar were worth $2,080,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of LOAR. TimesSquare Capital Management LLC increased its holdings in shares of Loar by 159.8% in the 4th quarter. TimesSquare Capital Management LLC now owns 1,066,525 shares of the company’s stock worth $78,827,000 after buying an additional 656,016 shares during the last quarter. Lord Abbett & CO. LLC grew its position in Loar by 71.7% in 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 in the last quarter. State Street Corp grew its position in Loar by 413.3% in the third quarter. State Street Corp now owns 416,531 shares of the company’s stock worth $31,069,000 after acquiring an additional 335,376 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in Loar during the fourth quarter worth approximately $5,053,000. Finally, Charles Schwab Investment Management Inc. raised its position in Loar by 54.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 164,884 shares of the company’s stock valued at $12,187,000 after purchasing an additional 57,987 shares during the period.

Loar Stock Down 8.7 %

Shares of NYSE LOAR opened at $69.19 on Friday. 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 $70.68 and a two-hundred day simple moving average of $76.90. The company has a market cap of $6.47 billion and a P/E ratio of 288.30. 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 (NYSE:LOAR) last issued its quarterly earnings results on Monday, March 31st. The company reported $0.11 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.11. The business had revenue of $110.40 million for the quarter, compared to the consensus estimate of $102.51 million. Loar’s quarterly revenue was up 27.8% on a year-over-year basis. Research analysts anticipate that Loar Holdings, LLC will post 0.28 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Morgan Stanley upgraded Loar from an “equal weight” rating to an “overweight” rating and set a $91.00 target price for the company in a report on Thursday. Royal Bank of Canada restated an “outperform” rating and issued a $92.00 price target on shares of Loar in a research report on Tuesday, April 1st.

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.