Gen Wealth Partners Inc Takes Position in Loar Holdings, LLC (NYSE:LOAR)

Gen Wealth Partners Inc bought a new stake in Loar Holdings, LLC (NYSE:LOAR) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 835 shares of the company’s stock, valued at approximately $62,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sterling Capital Management LLC raised its holdings in shares of 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 buying an additional 293 shares during the period. Corebridge Financial Inc. grew its position in 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 in the last quarter. Arcadia Investment Management Corp MI purchased a new stake in Loar during the fourth quarter worth about $61,000. R Squared Ltd acquired a new stake in shares of Loar during the fourth quarter worth about $95,000. Finally, MetLife Investment Management LLC boosted its stake in shares of Loar by 179.4% in the fourth quarter. MetLife Investment Management LLC now owns 1,735 shares of the company’s stock valued at $128,000 after purchasing an additional 1,114 shares during the period.

Loar Stock Down 0.9 %

Shares of NYSE LOAR opened at $95.95 on Friday. Loar Holdings, LLC has a 1 year low of $45.49 and a 1 year high of $99.16. The company has a market capitalization of $8.98 billion and a price-to-earnings ratio of 399.79. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.95 and a quick ratio of 2.28. The business has a 50-day moving average of $79.13 and a two-hundred day moving average of $79.41.

Loar (NYSE:LOAR) last posted its earnings results on Monday, March 31st. The company reported $0.11 earnings per share for the quarter, hitting the consensus estimate of $0.11. The business had revenue of $110.40 million for the quarter, compared to analysts’ expectations of $102.51 million. The business’s revenue for the quarter was up 27.8% compared to the same quarter last year. On average, analysts forecast that Loar Holdings, LLC will post 0.28 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on LOAR shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $92.00 target price on shares of Loar in a research note 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 research note on Thursday, April 3rd.

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.