Loar Holdings, LLC (NYSE:LOAR) Chairman Sells $9,765,156.85 in Stock

Loar Holdings, LLC (NYSE:LOAR) Chairman Brett N. Milgrim sold 120,305 shares of the stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $81.17, for a total transaction of $9,765,156.85. Following the completion of the transaction, the chairman now directly owns 3,865,327 shares of the company’s stock, valued at approximately $313,748,592.59. This trade represents a 3.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Loar Stock Up 0.9 %

LOAR stock traded up $0.73 during trading on Monday, reaching $79.87. 728,639 shares of the company’s stock were exchanged, compared to its average volume of 336,846. Loar Holdings, LLC has a 1-year low of $42.57 and a 1-year high of $96.99. 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 company’s fifty day moving average price is $84.38 and its 200-day moving average price is $71.58.

Loar (NYSE:LOAR) last issued its earnings results on Wednesday, November 13th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.13 by $0.02. The business had revenue of $103.52 million during the quarter, compared to analyst estimates of $97.30 million. The firm’s revenue was up 25.0% compared to the same quarter last year. On average, sell-side analysts predict that Loar Holdings, LLC will post 0.28 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Loar

Institutional investors have recently added to or reduced their stakes in the company. Abrams Capital Management L.P. acquired a new stake in shares of Loar in the second quarter valued at $2,052,780,000. Federated Hermes Inc. acquired a new position in shares of Loar during the 2nd quarter worth about $38,952,000. Lord Abbett & CO. LLC raised its position in Loar by 71.7% during the third quarter. Lord Abbett & CO. LLC now owns 1,009,558 shares of the company’s stock worth $75,303,000 after acquiring an additional 421,637 shares in the last quarter. State Street Corp boosted its stake in shares of Loar by 413.3% during the 3rd quarter. State Street Corp now owns 416,531 shares of the company’s stock worth $31,069,000 after acquiring an additional 335,376 shares during the period. Finally, Fred Alger Management LLC bought a new position in Loar in the 2nd quarter valued at about $13,085,000.

Analyst Upgrades and Downgrades

Several analysts have issued reports on LOAR shares. Morgan Stanley upped their price target on shares of Loar from $75.00 to $89.00 and gave the company an “equal weight” rating in a report on Monday, November 18th. Citigroup boosted their price objective on shares of Loar from $64.00 to $88.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $100.00 price target on shares of Loar in a report on Thursday, November 14th.

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.