Invesco Ltd. Buys 207,255 Shares of Loar Holdings, LLC (NYSE:LOAR)

Invesco Ltd. grew its stake in Loar Holdings, LLC (NYSE:LOAR) by 32.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 851,496 shares of the company’s stock after acquiring an additional 207,255 shares during the period. Invesco Ltd.’s holdings in Loar were worth $62,934,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Corebridge Financial Inc. increased its holdings in shares of Loar by 174.3% in the fourth quarter. Corebridge Financial Inc. now owns 524 shares of the company’s stock valued at $39,000 after purchasing an additional 333 shares in the last quarter. Arcadia Investment Management Corp MI bought a new position in Loar in the 4th quarter valued at $61,000. R Squared Ltd bought a new position in Loar in the 4th quarter valued at $95,000. Amalgamated Bank raised its position in shares of Loar by 190.7% during the fourth quarter. Amalgamated Bank now owns 2,000 shares of the company’s stock worth $148,000 after acquiring an additional 1,312 shares during the last quarter. Finally, CIBC Asset Management Inc bought a new stake in shares of Loar during the fourth quarter worth $201,000.

Loar Stock Down 0.8 %

Shares of Loar stock opened at $87.64 on Tuesday. Loar Holdings, LLC has a 12 month low of $42.57 and a 12 month high of $96.99. The business has a fifty day simple moving average of $71.26 and a 200 day simple moving average of $77.31. The company has a quick ratio of 2.28, a current ratio of 3.95 and a debt-to-equity ratio of 0.78. The stock has a market cap of $8.20 billion and a PE ratio of 365.17.

Loar (NYSE:LOAR) last posted its earnings results on Monday, March 31st. The company reported $0.11 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.11. The company had revenue of $110.40 million for the quarter, compared to analyst estimates of $102.51 million. The business’s quarterly revenue was up 27.8% on a year-over-year basis. Research analysts predict that Loar Holdings, LLC will post 0.28 EPS for the current year.

Analyst Ratings Changes

Several research firms recently issued reports on LOAR. Morgan Stanley upgraded Loar from an “equal weight” rating to an “overweight” rating and set a $91.00 price target on the stock in a report on Thursday, April 3rd. Royal Bank of Canada reiterated an “outperform” rating and set a $92.00 price target on shares of Loar in a research report on Tuesday, April 1st.

Loar Company 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.