T. Rowe Price Investment Management Inc. Grows Stock Holdings in Loar Holdings Inc. $LOAR

T. Rowe Price Investment Management Inc. raised its stake in Loar Holdings Inc. (NYSE:LOAR) by 232.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,601,485 shares of the company’s stock after purchasing an additional 1,119,958 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 1.71% of Loar worth $113,145,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Loar by 5,286.7% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 808 shares of the company’s stock valued at $57,000 after purchasing an additional 793 shares during the last quarter. Nuveen LLC acquired a new position in shares of Loar in the 1st quarter valued at $6,300,000. Invesco Ltd. boosted its holdings in shares of Loar by 38.5% in the 1st quarter. Invesco Ltd. now owns 1,179,384 shares of the company’s stock valued at $83,323,000 after purchasing an additional 327,888 shares during the last quarter. Swiss National Bank acquired a new position in shares of Loar in the 1st quarter valued at $2,565,000. Finally, Vanguard Group Inc. boosted its holdings in shares of Loar by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 2,735,157 shares of the company’s stock valued at $193,239,000 after purchasing an additional 13,832 shares during the last quarter.

Loar Price Performance

Shares of NYSE:LOAR opened at $73.0670 on Friday. The company has a quick ratio of 4.01, a current ratio of 6.15 and a debt-to-equity ratio of 0.25. Loar Holdings Inc. has a fifty-two week low of $62.10 and a fifty-two week high of $99.67. The firm has a 50-day simple moving average of $76.61 and a 200 day simple moving average of $78.46. The company has a market cap of $6.84 billion, a PE ratio of 158.84 and a beta of 0.11.

Loar (NYSE:LOAR) last announced its quarterly earnings data on Wednesday, August 13th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $122.17 million. During the same quarter in the prior year, the firm earned $0.13 EPS. 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. On average, sell-side analysts anticipate that Loar Holdings Inc. will post 0.28 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Citigroup lifted their price target on shares of Loar from $91.00 to $99.00 and gave the company a “buy” rating in a report on Thursday, May 15th. Wall Street Zen upgraded shares of Loar from a “hold” rating to a “buy” rating in a report on Saturday, August 16th. Finally, Morgan Stanley initiated coverage on shares of Loar in a report on Friday, May 23rd. They set an “overweight” rating and a $100.00 target price on the stock. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $97.00.

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.