Dirkson R. Charles Sells 589,605 Shares of Loar Holdings, LLC (NYSE:LOAR) Stock

Loar Holdings, LLC (NYSE:LOAR) insider Dirkson R. Charles sold 589,605 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $80.91, for a total transaction of $47,704,940.55. Following the transaction, the insider now owns 4,131,772 shares in the company, valued at approximately $334,301,672.52. This trade represents a 12.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Loar Stock Performance

NYSE:LOAR traded down $0.41 during midday trading on Monday, reaching $85.18. The stock had a trading volume of 1,789,485 shares, compared to its average volume of 486,683. Loar Holdings, LLC has a 1-year low of $49.62 and a 1-year high of $99.67. The firm’s fifty day simple moving average is $81.74 and its 200-day simple moving average is $79.46. 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 stock has a market capitalization of $7.97 billion and a P/E ratio of 224.16.

Loar (NYSE:LOAR) last posted its quarterly earnings results on Monday, March 31st. The company reported $0.11 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.11. The company had revenue of $110.40 million during the quarter, compared to analyst estimates of $102.51 million. The business’s revenue for the quarter was up 27.8% on a year-over-year basis. On average, equities research analysts forecast that Loar Holdings, LLC will post 0.28 EPS for the current fiscal year.

Institutional Trading of Loar

Several hedge funds and other institutional investors have recently bought and sold shares of LOAR. Vanguard Group Inc. grew its position in Loar by 132.4% in the 4th quarter. Vanguard Group Inc. now owns 2,721,325 shares of the company’s stock worth $201,133,000 after purchasing an additional 1,550,581 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its position in Loar by 232.6% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,601,485 shares of the company’s stock worth $113,145,000 after purchasing an additional 1,119,958 shares during the last quarter. TimesSquare Capital Management LLC grew its position in Loar by 159.8% in the 4th quarter. TimesSquare Capital Management LLC now owns 1,066,525 shares of the company’s stock worth $78,827,000 after purchasing an additional 656,016 shares during the last quarter. Wasatch Advisors LP acquired a new stake in Loar in the 4th quarter worth $40,347,000. Finally, Norges Bank acquired a new stake in shares of Loar during the 4th quarter valued at about $30,326,000.

Analysts Set New Price Targets

LOAR has been the topic of a number of research analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $92.00 target price on shares of Loar in a research note on Tuesday, April 1st. Morgan Stanley upgraded shares of Loar from an “equal weight” rating to an “overweight” rating and set a $91.00 target price on the stock in a research note on Thursday, April 3rd. Finally, Citigroup raised their target price on shares of Loar from $91.00 to $99.00 and gave the company a “buy” rating in a research note on Thursday.

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.