Loar Holdings, LLC (NYSE:LOAR) Shares Sold by Alkeon Capital Management LLC

Alkeon Capital Management LLC lowered its position in Loar Holdings, LLC (NYSE:LOAR) by 0.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 324,833 shares of the company’s stock after selling 167 shares during the quarter. Alkeon Capital Management LLC’s holdings in Loar were worth $24,229,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LOAR. Abrams Capital Management L.P. purchased a new stake in shares of Loar during the second quarter worth about $2,052,780,000. Federated Hermes Inc. acquired a new stake in Loar during the 2nd quarter valued at approximately $38,952,000. TimesSquare Capital Management LLC increased its holdings in Loar by 57.3% during the 3rd quarter. TimesSquare Capital Management LLC now owns 410,509 shares of the company’s stock worth $30,620,000 after purchasing an additional 149,460 shares during the last quarter. Loomis Sayles & Co. L P raised its position in shares of Loar by 47.3% in the 3rd quarter. Loomis Sayles & Co. L P now owns 275,500 shares of the company’s stock valued at $20,550,000 after purchasing an additional 88,429 shares in the last quarter. Finally, Fred Alger Management LLC purchased a new position in shares of Loar during the 2nd quarter valued at approximately $13,085,000.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Morgan Stanley lifted their price target on shares of Loar from $75.00 to $89.00 and gave the stock an “equal weight” rating in a research note on Monday, November 18th. Royal Bank of Canada restated an “outperform” rating and issued a $100.00 target price on shares of Loar in a research note on Thursday, November 14th. Finally, Citigroup lifted their price target on Loar from $64.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th.

Loar Stock Performance

LOAR stock opened at $88.83 on Friday. Loar Holdings, LLC has a 1-year low of $42.57 and a 1-year high of $96.60. The firm has a fifty day moving average price of $81.23 and a two-hundred day moving average price of $68.63. The company has a current ratio of 3.95, a quick ratio of 2.28 and a debt-to-equity ratio of 0.78.

Loar (NYSE:LOAR) last released its quarterly earnings data on Wednesday, November 13th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.02. The business had revenue of $103.52 million for the quarter, compared to analyst estimates of $97.30 million. The company’s revenue for the quarter was up 25.0% compared to the same quarter last year. As a group, analysts anticipate that Loar Holdings, LLC will post 0.28 EPS for the current fiscal year.

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.