Loar Holdings, LLC (NYSE:LOAR) Chairman Sells $45,204,012.45 in Stock

Loar Holdings, LLC (NYSE:LOAR) Chairman Brett N. Milgrim sold 558,695 shares of the company’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $80.91, for a total transaction of $45,204,012.45. Following the completion of the sale, the chairman now owns 3,306,632 shares of the company’s stock, valued at approximately $267,539,595.12. This trade represents a 14.45% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Loar Stock Down 0.3%

Loar stock opened at $82.72 on Thursday. Loar Holdings, LLC has a twelve month low of $50.02 and a twelve month high of $99.67. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.28 and a current ratio of 3.95. The firm has a market cap of $7.74 billion and a PE ratio of 217.69. The firm’s 50 day moving average price is $82.47 and its two-hundred day moving average price is $79.51.

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on LOAR. Royal Bank of Canada reissued an “outperform” rating and set a $92.00 target price on shares of Loar in a research note on Tuesday, April 1st. Morgan Stanley raised Loar from an “equal weight” rating to an “overweight” rating and set a $91.00 price target on the stock in a research report on Thursday, April 3rd. Finally, Citigroup increased their price objective on Loar from $91.00 to $99.00 and gave the stock a “buy” rating in a research note on Thursday, May 15th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC raised its stake in shares of Loar by 204.9% during the 1st quarter. GAMMA Investing LLC now owns 372 shares of the company’s stock worth $26,000 after purchasing an additional 250 shares in the last quarter. Sterling Capital Management LLC increased its holdings in Loar by 141.5% in the fourth quarter. Sterling Capital Management LLC now owns 500 shares of the company’s stock worth $37,000 after buying an additional 293 shares during the last quarter. Corebridge Financial Inc. increased its holdings in Loar by 174.3% in the fourth quarter. Corebridge Financial Inc. now owns 524 shares of the company’s stock worth $39,000 after buying an additional 333 shares during the last quarter. State of Wyoming bought a new position in Loar during the fourth quarter valued at approximately $53,000. Finally, 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.

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.