Loar Holdings, LLC (NYSE:LOAR) Insider Michael J. Manella Sells 130,744 Shares of Stock

Loar Holdings, LLC (NYSE:LOAR) insider Michael J. Manella sold 130,744 shares of the company’s stock in a transaction on Friday, May 16th. The shares were sold at an average price of $80.91, for a total value of $10,578,497.04. Following the sale, the insider now owns 449,644 shares of the company’s stock, valued at approximately $36,380,696.04. This trade represents a 22.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Loar Stock Performance

NYSE:LOAR opened at $85.18 on Tuesday. The stock has a 50-day simple moving average of $81.74 and a two-hundred day simple moving average of $79.46. Loar Holdings, LLC has a 52-week low of $49.62 and a 52-week high of $99.67. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.28 and a current ratio of 3.95. The firm has a market capitalization of $7.97 billion and a PE ratio of 224.16.

Loar (NYSE:LOAR) last released its quarterly earnings results on Monday, March 31st. The company reported $0.11 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.11. The company had revenue of $110.40 million for the quarter, compared to the consensus estimate of $102.51 million. Loar’s revenue was up 27.8% compared to the same quarter last year. Analysts forecast that Loar Holdings, LLC will post 0.28 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on LOAR. Citigroup upped their price objective on Loar from $91.00 to $99.00 and gave the company a “buy” rating in a research report on Thursday, May 15th. Royal Bank of Canada reissued an “outperform” rating and set a $92.00 price target on shares of Loar in a report on Tuesday, April 1st. Finally, Morgan Stanley raised Loar from an “equal weight” rating to an “overweight” rating and set a $91.00 price target for the company in a report on Thursday, April 3rd.

Hedge Funds Weigh In On Loar

A number of hedge funds have recently made changes to their positions in the business. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in shares of Loar by 0.3% in the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 40,436 shares of the company’s stock worth $2,857,000 after acquiring an additional 139 shares during the period. Huntleigh Advisors Inc. boosted its stake in shares of Loar by 1.6% in the first quarter. Huntleigh Advisors Inc. now owns 11,477 shares of the company’s stock worth $811,000 after acquiring an additional 182 shares during the period. GAMMA Investing LLC boosted its stake in shares of Loar by 204.9% in the first quarter. GAMMA Investing LLC now owns 372 shares of the company’s stock worth $26,000 after acquiring an additional 250 shares during the period. Amalgamated Bank boosted its stake in shares of Loar by 13.1% in the first quarter. Amalgamated Bank now owns 2,261 shares of the company’s stock worth $160,000 after acquiring an additional 261 shares during the period. Finally, MetLife Investment Management LLC boosted its stake in shares of Loar by 16.1% in the first quarter. MetLife Investment Management LLC now owns 2,014 shares of the company’s stock worth $142,000 after acquiring an additional 279 shares during the period.

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.