Loar Holdings, LLC (NYSE:LOAR) Insider Dirkson R. Charles Sells 589,605 Shares

Loar Holdings, LLC (NYSE:LOAR) insider Dirkson R. Charles sold 589,605 shares of Loar stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $80.91, for a total value of $47,704,940.55. Following the transaction, the insider now directly owns 4,131,772 shares in the company, valued at approximately $334,301,672.52. This trade represents a 12.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Loar Trading Down 0.5%

Shares of NYSE LOAR opened at $85.18 on Tuesday. The stock has a market cap of $7.97 billion and a price-to-earnings ratio of 224.16. The business has a 50 day simple moving average of $81.74 and a 200 day simple moving average of $79.46. Loar Holdings, LLC has a 52 week low of $49.62 and a 52 week 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.

Loar (NYSE:LOAR) last announced its earnings results on Monday, March 31st. The company reported $0.11 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.11. The company had revenue of $110.40 million for 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. On average, research analysts predict that Loar Holdings, LLC will post 0.28 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently commented on LOAR shares. Citigroup boosted their price target on Loar from $91.00 to $99.00 and gave the company a “buy” rating in a research note on Thursday, May 15th. Royal Bank of Canada reissued an “outperform” rating and issued a $92.00 price target on shares of Loar in a research note on Tuesday, April 1st. Finally, Morgan Stanley raised Loar from an “equal weight” rating to an “overweight” rating and set a $91.00 price target for the company in a research note on Thursday, April 3rd.

Institutional Investors Weigh In On Loar

A number of large investors have recently added to or reduced their stakes in LOAR. Barclays PLC boosted its position in Loar by 871.3% during the third quarter. Barclays PLC now owns 2,943 shares of the company’s stock worth $219,000 after purchasing an additional 2,640 shares during the period. Zweig DiMenna Associates LLC boosted its position in Loar by 4.4% during the fourth quarter. Zweig DiMenna Associates LLC now owns 172,750 shares of the company’s stock worth $12,768,000 after purchasing an additional 7,300 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in Loar during the fourth quarter worth approximately $5,053,000. R Squared Ltd bought a new stake in Loar during the fourth quarter worth approximately $95,000. Finally, Renaissance Capital LLC boosted its position in Loar by 411.5% during the fourth quarter. Renaissance Capital LLC now owns 58,275 shares of the company’s stock worth $4,307,000 after purchasing an additional 46,883 shares during the period.

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.