Price T Rowe Associates Inc. MD Has $84.41 Million Holdings in Loar Holdings, LLC (NYSE:LOAR)

Price T Rowe Associates Inc. MD grew its holdings in shares of Loar Holdings, LLC (NYSE:LOAR) by 4.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,142,073 shares of the company’s stock after acquiring an additional 50,287 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Loar were worth $84,411,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in LOAR. Sterling Capital Management LLC lifted its stake in Loar by 141.5% in the 4th quarter. Sterling Capital Management LLC now owns 500 shares of the company’s stock valued at $37,000 after purchasing an additional 293 shares during the last quarter. Corebridge Financial Inc. lifted its stake in shares of Loar by 174.3% in the 4th quarter. Corebridge Financial Inc. now owns 524 shares of the company’s stock valued at $39,000 after acquiring an additional 333 shares during the last quarter. Barclays PLC boosted its holdings in shares of Loar by 12.1% during the 4th quarter. Barclays PLC now owns 3,298 shares of the company’s stock valued at $243,000 after acquiring an additional 355 shares in the last quarter. Arcadia Investment Management Corp MI bought a new stake in Loar during the 4th quarter worth $61,000. Finally, Picton Mahoney Asset Management increased its holdings in Loar by 5.6% in the 4th quarter. Picton Mahoney Asset Management now owns 19,300 shares of the company’s stock worth $1,426,000 after purchasing an additional 1,030 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on LOAR. Royal Bank of Canada reissued an “outperform” rating and set a $92.00 target price on shares of Loar in a report on Tuesday, April 1st. Morgan Stanley upgraded Loar from an “equal weight” rating to an “overweight” rating and set a $91.00 price objective for the company in a report on Thursday, April 3rd.

Loar Stock Performance

LOAR stock opened at $97.18 on Monday. Loar Holdings, LLC has a 1-year low of $45.10 and a 1-year high of $98.60. The company has a current ratio of 3.95, a quick ratio of 2.28 and a debt-to-equity ratio of 0.78. The stock has a 50-day moving average price of $73.81 and a 200-day moving average price of $78.17. The firm has a market cap of $9.09 billion and a PE ratio of 404.92.

Loar (NYSE:LOAR) last posted its quarterly earnings results on Monday, March 31st. The company reported $0.11 earnings per share for the quarter, meeting the consensus estimate of $0.11. The company had revenue of $110.40 million during the quarter, compared to the consensus estimate of $102.51 million. The firm’s quarterly revenue was up 27.8% compared to the same quarter last year. As a group, equities research analysts expect that Loar Holdings, LLC will post 0.28 earnings per share for the current year.

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.