Empirical Financial Services LLC d.b.a. Empirical Wealth Management Takes Position in Loar Holdings, LLC (NYSE:LOAR)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in Loar Holdings, LLC (NYSE:LOAR) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 68,372 shares of the company’s stock, valued at approximately $5,053,000.

A number of other institutional investors have also made changes to their positions in LOAR. Renaissance Technologies LLC bought a new position in Loar during the 2nd quarter worth approximately $1,800,000. Amalgamated Bank bought a new position in shares of Loar during the second quarter worth $37,000. Sei Investments Co. acquired a new position in shares of Loar in the 2nd quarter valued at $1,195,000. Squarepoint Ops LLC bought a new stake in shares of Loar in the 2nd quarter valued at $3,365,000. Finally, Driehaus Capital Management LLC acquired a new stake in Loar during the 2nd quarter worth $2,436,000.

Insider Buying and Selling

In related news, insider Michael J. Manella sold 28,153 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $81.17, for a total value of $2,285,179.01. Following the transaction, the insider now owns 580,388 shares in the company, valued at approximately $47,110,093.96. This represents a 4.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Raja Bobbili sold 987,248 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $81.17, for a total transaction of $80,134,920.16. Following the sale, the director now owns 36,713,441 shares of the company’s stock, valued at $2,980,030,005.97. This trade represents a 2.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,135,706 shares of company stock valued at $92,185,256.

Analyst Upgrades and Downgrades

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

Loar Stock Performance

Shares of Loar stock opened at $79.86 on Monday. Loar Holdings, LLC has a 12-month low of $42.57 and a 12-month high of $96.99. 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 business’s 50 day moving average is $81.01 and its 200-day moving average is $75.58.

Loar (NYSE:LOAR) last announced its quarterly earnings data on Wednesday, November 13th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.02. The firm had revenue of $103.52 million during the quarter, compared to the consensus estimate of $97.30 million. Loar’s revenue was up 25.0% on a year-over-year basis. On average, equities research analysts predict that Loar Holdings, LLC will post 0.28 earnings per share for the current 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.