Loar Holdings Inc. $LOAR Shares Sold by TD Asset Management Inc

TD Asset Management Inc cut its holdings in shares of Loar Holdings Inc. (NYSE:LOAR) by 25.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 33,108 shares of the company’s stock after selling 11,468 shares during the period. TD Asset Management Inc’s holdings in Loar were worth $2,853,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of LOAR. GAMMA Investing LLC lifted its holdings in shares of Loar by 204.9% in the 1st quarter. GAMMA Investing LLC now owns 372 shares of the company’s stock valued at $26,000 after buying an additional 250 shares during the period. Caitong International Asset Management Co. Ltd raised its position in Loar by 5,286.7% during the first quarter. Caitong International Asset Management Co. Ltd now owns 808 shares of the company’s stock valued at $57,000 after acquiring an additional 793 shares in the last quarter. MetLife Investment Management LLC raised its position in Loar by 16.1% during the first quarter. MetLife Investment Management LLC now owns 2,014 shares of the company’s stock valued at $142,000 after acquiring an additional 279 shares in the last quarter. Amalgamated Bank lifted its holdings in Loar by 13.1% in the first quarter. Amalgamated Bank now owns 2,261 shares of the company’s stock valued at $160,000 after acquiring an additional 261 shares during the period. Finally, Bourne Lent Asset Management Inc. purchased a new stake in Loar in the 2nd quarter worth approximately $224,000.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Loar in a report on Wednesday, October 8th. Wall Street Zen raised shares of Loar from a “hold” rating to a “buy” rating in a report on Saturday, August 16th. Finally, Zacks Research raised shares of Loar from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 16th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $97.00.

Loar Price Performance

Shares of NYSE LOAR opened at $81.84 on Tuesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 4.01 and a current ratio of 6.15. The firm has a fifty day moving average of $76.41 and a 200 day moving average of $80.91. The firm has a market cap of $7.66 billion, a PE ratio of 177.92 and a beta of 0.21. Loar Holdings Inc. has a one year low of $62.10 and a one year high of $99.67.

Loar (NYSE:LOAR) last announced its earnings results on Wednesday, August 13th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.04. Loar had a net margin of 9.82% and a return on equity of 5.50%. The business had revenue of $123.12 million for the quarter, compared to analyst estimates of $122.17 million. During the same quarter last year, the business earned $0.13 earnings per share. The company’s revenue for the quarter was up 26.8% compared to the same quarter last year. Loar has set its FY 2025 guidance at 0.830-0.88 EPS. As a group, research analysts predict that Loar Holdings Inc. will post 0.28 EPS for the current fiscal year.

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.