Loar Holdings, LLC (NYSE:LOAR) Director David C. Abrams Sells 703,691 Shares of Stock

Loar Holdings, LLC (NYSE:LOAR) Director David C. Abrams sold 703,691 shares of the firm’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $80.91, for a total value of $56,935,638.81. Following the completion of the transaction, the director now owns 32,050,240 shares in the company, valued at $2,593,184,918.40. This represents a 2.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Loar Stock Performance

Shares of Loar stock opened at $82.90 on Wednesday. The business’s fifty day simple moving average is $82.13 and its 200 day simple moving average is $79.49. 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 Holdings, LLC has a 12 month low of $50.02 and a 12 month high of $99.67. The firm has a market capitalization of $7.76 billion and a P/E ratio of 218.16.

Loar (NYSE:LOAR) last announced its 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 business had revenue of $110.40 million for the quarter, compared to analysts’ expectations of $102.51 million. The firm’s revenue was up 27.8% on a year-over-year basis. As a group, analysts anticipate that Loar Holdings, LLC will post 0.28 EPS for the current year.

Analyst Upgrades and Downgrades

LOAR has been the subject of a number of analyst reports. Citigroup increased their price target 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 reiterated an “outperform” rating and issued a $92.00 target price on shares of Loar in a report on Tuesday, April 1st. Finally, Morgan Stanley upgraded 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.

Institutional Trading of Loar

Large investors have recently added to or reduced their stakes in the stock. Universal Beteiligungs und Servicegesellschaft mbH increased its stake in shares of Loar by 0.3% during the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 40,436 shares of the company’s stock worth $2,857,000 after purchasing an additional 139 shares during the last quarter. Huntleigh Advisors Inc. grew its holdings in Loar by 1.6% during the first quarter. Huntleigh Advisors Inc. now owns 11,477 shares of the company’s stock valued at $811,000 after purchasing an additional 182 shares during the period. GAMMA Investing LLC grew its holdings in Loar by 204.9% during the first quarter. GAMMA Investing LLC now owns 372 shares of the company’s stock valued at $26,000 after purchasing an additional 250 shares during the period. Amalgamated Bank increased its position in Loar by 13.1% in the first quarter. Amalgamated Bank now owns 2,261 shares of the company’s stock worth $160,000 after buying an additional 261 shares during the last quarter. Finally, MetLife Investment Management LLC raised 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 valued at $142,000 after buying an additional 279 shares during the period.

Loar Company 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.