Loar Holdings, LLC (NYSE:LOAR) Stock Holdings Lifted by Renaissance Capital LLC

Renaissance Capital LLC raised its position in Loar Holdings, LLC (NYSE:LOAR) by 1.3% during the first quarter, HoldingsChannel.com reports. The firm owned 59,026 shares of the company’s stock after buying an additional 751 shares during the quarter. Loar makes up approximately 3.2% of Renaissance Capital LLC’s holdings, making the stock its 12th largest holding. Renaissance Capital LLC’s holdings in Loar were worth $4,170,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Fortress Investment Group LLC acquired a new stake in shares of Loar in the fourth quarter worth about $739,000. Polar Asset Management Partners Inc. lifted its position in shares of Loar by 343.9% in the fourth quarter. Polar Asset Management Partners Inc. now owns 18,200 shares of the company’s stock worth $1,345,000 after buying an additional 14,100 shares during the last quarter. M&T Bank Corp acquired a new stake in shares of Loar in the fourth quarter worth about $306,000. Treasurer of the State of North Carolina lifted its position in shares of Loar by 187.2% in the fourth quarter. Treasurer of the State of North Carolina now owns 13,240 shares of the company’s stock worth $979,000 after buying an additional 8,630 shares during the last quarter. Finally, Soros Fund Management LLC lifted its position in shares of Loar by 12.5% in the fourth quarter. Soros Fund Management LLC now owns 225,000 shares of the company’s stock worth $16,630,000 after buying an additional 25,000 shares during the last quarter.

Insider Activity at Loar

In related news, Director Paul S. Levy sold 1,168,499 shares of the business’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $80.91, for a total transaction of $94,543,254.09. Following the transaction, the director now directly owns 8,188,503 shares in the company, valued at $662,531,777.73. The trade was a 12.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Michael J. Manella sold 130,744 shares of the company’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 $10,578,497.04. Following the completion of the sale, the insider now owns 449,644 shares in the company, valued at approximately $36,380,696.04. This represents a 22.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,742,872 shares of company stock worth $464,655,774 over the last three months.

Analyst Ratings Changes

Several equities analysts recently weighed in on LOAR shares. Wall Street Zen raised Loar from a “hold” rating to a “buy” rating in a research report on Thursday, May 22nd. Citigroup boosted their price objective on Loar from $91.00 to $99.00 and gave the stock a “buy” rating in a research report on Thursday, May 15th. Morgan Stanley started coverage on Loar in a research report on Friday, May 23rd. They set an “overweight” rating and a $100.00 price objective for the company. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $92.00 price objective on shares of Loar in a research report on Tuesday, April 1st.

Loar Price Performance

NYSE LOAR opened at $89.84 on Friday. Loar Holdings, LLC has a twelve month low of $51.50 and a twelve month 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 stock has a market capitalization of $8.41 billion and a PE ratio of 236.42. The stock has a 50-day simple moving average of $87.31 and a 200 day simple moving average of $79.71.

Loar (NYSE:LOAR) last issued 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 firm had revenue of $110.40 million for the quarter, compared to the consensus estimate of $102.51 million. The business’s revenue for the quarter was up 27.8% compared to the same quarter last year. Research analysts anticipate that Loar Holdings, LLC will post 0.28 EPS for the current year.

Loar 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.