R Squared Ltd Invests $95,000 in Loar Holdings, LLC (NYSE:LOAR)

R Squared Ltd purchased a new stake in Loar Holdings, LLC (NYSE:LOAR) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,286 shares of the company’s stock, valued at approximately $95,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in shares of Loar during the fourth quarter worth $5,053,000. Zweig DiMenna Associates LLC boosted its holdings in Loar by 4.4% in the 4th quarter. Zweig DiMenna Associates LLC now owns 172,750 shares of the company’s stock valued at $12,768,000 after purchasing an additional 7,300 shares during the period. Lord Abbett & CO. LLC grew its position in shares of Loar by 71.7% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,009,558 shares of the company’s stock worth $75,303,000 after purchasing an additional 421,637 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of Loar by 36.0% during the third quarter. Franklin Resources Inc. now owns 188,766 shares of the company’s stock worth $14,556,000 after purchasing an additional 49,966 shares during the period. Finally, Barclays PLC raised its position in shares of Loar by 871.3% in the third quarter. Barclays PLC now owns 2,943 shares of the company’s stock valued at $219,000 after buying an additional 2,640 shares in the last quarter.

Analyst Ratings Changes

A number of brokerages recently issued reports on LOAR. Morgan Stanley increased their price target on Loar from $75.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Monday, November 18th. Royal Bank of Canada reissued an “outperform” rating and set a $100.00 target price on shares of Loar in a report on Thursday, November 14th.

Loar Price Performance

Shares of NYSE:LOAR opened at $79.96 on Friday. Loar Holdings, LLC has a 1 year low of $42.57 and a 1 year high of $96.99. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.95 and a quick ratio of 2.28. The company’s 50 day simple moving average is $80.33 and its 200 day simple moving average is $75.95.

Loar (NYSE:LOAR) last issued its quarterly earnings results on Wednesday, November 13th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.02. The business had revenue of $103.52 million during the quarter, compared to the consensus estimate of $97.30 million. The company’s revenue for the quarter was up 25.0% on a year-over-year basis. Analysts anticipate that Loar Holdings, LLC will post 0.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Chairman Brett N. Milgrim sold 120,305 shares of the business’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $81.17, for a total transaction of $9,765,156.85. Following the sale, the chairman now owns 3,865,327 shares in the company, valued at $313,748,592.59. The trade was a 3.02 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Michael J. Manella sold 28,153 shares of the company’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $81.17, for a total value of $2,285,179.01. Following the completion of the transaction, the insider now directly owns 580,388 shares of the company’s stock, valued at approximately $47,110,093.96. The trade was a 4.63 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,135,706 shares of company stock valued at $92,185,256.

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.