Loar Holdings, LLC (NYSE:LOAR) Shares Sold by Capital Research Global Investors

Capital Research Global Investors lowered its position in Loar Holdings, LLC (NYSE:LOAR) by 40.6% in the fourth quarter, HoldingsChannel reports. The firm owned 356,179 shares of the company’s stock after selling 243,821 shares during the period. Capital Research Global Investors’ holdings in Loar were worth $26,325,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. M&T Bank Corp purchased a new stake in shares of Loar in the 4th quarter valued at approximately $306,000. New York State Common Retirement Fund grew its position in Loar by 14.1% in the fourth quarter. New York State Common Retirement Fund now owns 101,802 shares of the company’s stock worth $7,524,000 after acquiring an additional 12,592 shares during the period. Renaissance Capital LLC increased its stake 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 acquiring an additional 46,883 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in Loar in the fourth quarter valued at $1,585,000. Finally, Barclays PLC lifted its stake in shares of Loar by 871.3% in the 3rd quarter. Barclays PLC now owns 2,943 shares of the company’s stock valued at $219,000 after purchasing an additional 2,640 shares during the last quarter.

Analyst Upgrades and Downgrades

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

Loar Price Performance

LOAR opened at $81.68 on Tuesday. The firm has a market cap of $7.64 billion and a price-to-earnings ratio of 340.33. The company has a current ratio of 3.95, a quick ratio of 2.28 and a debt-to-equity ratio of 0.78. The stock’s 50-day moving average price is $72.16 and its 200 day moving average price is $77.75. Loar Holdings, LLC has a 12-month low of $42.57 and a 12-month high of $96.99.

Loar (NYSE:LOAR) last posted its quarterly earnings data on Monday, March 31st. The company reported $0.11 EPS for the quarter, meeting the consensus estimate of $0.11. The business had revenue of $110.40 million during the quarter, compared to analysts’ expectations of $102.51 million. Loar’s revenue for the quarter was up 27.8% compared to the same quarter last year. As a group, sell-side analysts expect that Loar Holdings, LLC will post 0.28 earnings per share for the current year.

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.