Loar Holdings, LLC (NYSE:LOAR) Director Sells $55,848,774.78 in Stock

Loar Holdings, LLC (NYSE:LOAR) Director Alison Bomberg sold 690,258 shares of the stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $80.91, for a total value of $55,848,774.78. Following the transaction, the director now directly owns 31,438,420 shares of the company’s stock, valued at approximately $2,543,682,562.20. This trade represents a 2.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Loar Trading Down 2.4%

Shares of Loar stock traded down $2.04 on Tuesday, reaching $82.90. 1,367,562 shares of the company were exchanged, compared to its average volume of 490,192. 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 firm has a market capitalization of $7.76 billion and a price-to-earnings ratio of 218.16. Loar Holdings, LLC has a fifty-two week low of $49.62 and a fifty-two week high of $99.67. The stock has a fifty day moving average price of $81.74 and a 200-day moving average price of $79.46.

Loar (NYSE:LOAR) last issued its earnings results on Monday, March 31st. The company reported $0.11 EPS for the quarter, meeting analysts’ consensus estimates of $0.11. The firm had revenue of $110.40 million during the quarter, compared to analysts’ expectations of $102.51 million. The business’s quarterly revenue was up 27.8% compared to the same quarter last year. On average, analysts expect that Loar Holdings, LLC will post 0.28 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on LOAR. Morgan Stanley raised shares of Loar from an “equal weight” rating to an “overweight” rating and set a $91.00 price target on the stock in a report on Thursday, April 3rd. Royal Bank of Canada reissued an “outperform” rating and set a $92.00 price target on shares of Loar in a research report on Tuesday, April 1st. Finally, Citigroup lifted their price target on shares of Loar from $91.00 to $99.00 and gave the stock a “buy” rating in a research note on Thursday, May 15th.

Institutional Trading of Loar

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

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.