Zweig DiMenna Associates LLC Sells 74,004 Shares of Loar Holdings Inc. $LOAR

Zweig DiMenna Associates LLC trimmed its stake in shares of Loar Holdings Inc. (NYSE:LOAR) by 31.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 158,246 shares of the company’s stock after selling 74,004 shares during the quarter. Zweig DiMenna Associates LLC’s holdings in Loar were worth $10,761,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Rakuten Securities Inc. bought a new position in shares of Loar during the second quarter worth about $27,000. Fifth Third Bancorp bought a new stake in Loar in the fourth quarter worth approximately $28,000. PNC Financial Services Group Inc. increased its holdings in Loar by 122.4% in the third quarter. PNC Financial Services Group Inc. now owns 774 shares of the company’s stock worth $62,000 after purchasing an additional 426 shares in the last quarter. Danske Bank A S bought a new stake in Loar in the fourth quarter worth approximately $62,000. Finally, Farther Finance Advisors LLC increased its holdings in Loar by 104.7% in the fourth quarter. Farther Finance Advisors LLC now owns 1,042 shares of the company’s stock worth $71,000 after purchasing an additional 533 shares in the last quarter.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on LOAR. Wall Street Zen downgraded Loar from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Morgan Stanley set a $91.00 target price on Loar in a report on Friday, May 8th. Jefferies Financial Group set a $75.00 target price on Loar in a report on Sunday, May 10th. Royal Bank Of Canada lowered their target price on Loar from $90.00 to $80.00 and set an “outperform” rating for the company in a report on Friday, May 8th. Finally, Weiss Ratings downgraded Loar from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $83.00.

Insider Activity

In other news, insider Dirkson R. Charles acquired 36,434 shares of the firm’s stock in a transaction dated Thursday, March 12th. The stock was purchased at an average price of $67.45 per share, for a total transaction of $2,457,473.30. Following the completion of the acquisition, the insider directly owned 4,087,005 shares in the company, valued at $275,668,487.25. The trade was a 0.90% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Raja Bobbili acquired 50,000 shares of the firm’s stock in a transaction dated Thursday, March 12th. The shares were purchased at an average price of $63.61 per share, with a total value of $3,180,500.00. Following the acquisition, the director owned 50,000 shares of the company’s stock, valued at approximately $3,180,500. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have purchased 173,800 shares of company stock valued at $11,327,673. Corporate insiders own 20.10% of the company’s stock.

Loar Trading Down 0.7%

NYSE LOAR opened at $64.75 on Friday. The company has a market cap of $6.06 billion, a price-to-earnings ratio of 91.20 and a beta of 0.55. Loar Holdings Inc. has a 52 week low of $53.15 and a 52 week high of $91.19. The business has a 50 day moving average price of $60.63 and a 200-day moving average price of $65.88. The company has a quick ratio of 2.89, a current ratio of 4.56 and a debt-to-equity ratio of 0.80.

Loar (NYSE:LOAR) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.15 by $0.19. The firm had revenue of $156.09 million during the quarter, compared to the consensus estimate of $149.71 million. Loar had a return on equity of 8.47% and a net margin of 12.64%.The company’s quarterly revenue was up 36.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.16 earnings per share. Loar has set its FY 2026 guidance at 1.260-1.300 EPS. As a group, equities analysts expect that Loar Holdings Inc. will post 1.16 earnings per share for the current fiscal year.

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.