Insider Selling: Loar Holdings, LLC (NYSE:LOAR) Insider Sells 19,684 Shares of Stock

Loar Holdings, LLC (NYSE:LOAR) insider Michael J. Manella sold 19,684 shares of the business’s stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $80.91, for a total transaction of $1,592,632.44. Following the completion of the transaction, the insider now directly owns 429,960 shares of the company’s stock, valued at $34,788,063.60. This trade represents a 4.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Loar Price Performance

NYSE LOAR opened at $85.18 on Tuesday. Loar Holdings, LLC has a 12-month low of $49.62 and a 12-month high of $99.67. The firm’s fifty day simple moving average is $81.74 and its two-hundred day simple moving average is $79.46. 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 $7.97 billion and a P/E ratio of 224.16.

Loar (NYSE:LOAR) last announced its earnings results on Monday, March 31st. The company reported $0.11 earnings per share for the quarter, hitting 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 business’s revenue for the quarter was up 27.8% on a year-over-year basis. Analysts forecast that Loar Holdings, LLC will post 0.28 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on LOAR shares. 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 research report on Thursday, April 3rd. Citigroup boosted their target price on shares of Loar from $91.00 to $99.00 and gave the stock a “buy” rating in a report on Thursday, May 15th. Finally, 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.

Institutional Investors Weigh In On Loar

A number of large investors have recently modified their holdings of the business. GAMMA Investing LLC boosted its stake in Loar by 204.9% in the 1st quarter. GAMMA Investing LLC now owns 372 shares of the company’s stock worth $26,000 after purchasing an additional 250 shares in the last quarter. Sterling Capital Management LLC raised its holdings in shares of Loar by 141.5% in the fourth quarter. Sterling Capital Management LLC now owns 500 shares of the company’s stock worth $37,000 after buying an additional 293 shares during the last quarter. Corebridge Financial Inc. lifted its stake in shares of Loar by 174.3% during the fourth quarter. Corebridge Financial Inc. now owns 524 shares of the company’s stock worth $39,000 after buying an additional 333 shares during the period. State of Wyoming purchased a new stake in shares of Loar during the fourth quarter valued at $53,000. Finally, Caitong International Asset Management Co. Ltd increased its position in shares of Loar by 5,286.7% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 808 shares of the company’s stock valued at $57,000 after acquiring an additional 793 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.