Zweig DiMenna Associates LLC Has $12.77 Million Stock Position in Loar Holdings, LLC (NYSE:LOAR)

Zweig DiMenna Associates LLC grew its position in Loar Holdings, LLC (NYSE:LOAR) by 4.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 172,750 shares of the company’s stock after acquiring an additional 7,300 shares during the period. Zweig DiMenna Associates LLC’s holdings in Loar were worth $12,768,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in LOAR. Lord Abbett & CO. LLC lifted its position in Loar by 71.7% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,009,558 shares of the company’s stock valued at $75,303,000 after acquiring an additional 421,637 shares in the last quarter. State Street Corp lifted its position in Loar by 413.3% in the 3rd quarter. State Street Corp now owns 416,531 shares of the company’s stock valued at $31,069,000 after acquiring an additional 335,376 shares in the last quarter. TimesSquare Capital Management LLC lifted its position in Loar by 57.3% in the 3rd quarter. TimesSquare Capital Management LLC now owns 410,509 shares of the company’s stock valued at $30,620,000 after acquiring an additional 149,460 shares in the last quarter. Loomis Sayles & Co. L P lifted its position in Loar by 47.3% in the 3rd quarter. Loomis Sayles & Co. L P now owns 275,500 shares of the company’s stock valued at $20,550,000 after acquiring an additional 88,429 shares in the last quarter. Finally, Fred Alger Management LLC bought a new stake in Loar in the 2nd quarter valued at $13,085,000.

Insider Transactions at Loar

In other Loar news, insider Michael J. Manella sold 28,153 shares of Loar stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $81.17, for a total value of $2,285,179.01. Following the completion of the sale, the insider now directly owns 580,388 shares of the company’s stock, valued at approximately $47,110,093.96. The trade was a 4.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Brett N. Milgrim sold 120,305 shares of Loar stock in a transaction on 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 sale, 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,135,706 shares of company stock worth $92,185,256.

Loar Trading Down 1.6 %

Shares of Loar stock opened at $80.66 on Friday. Loar Holdings, LLC has a fifty-two week low of $42.57 and a fifty-two week high of $96.99. 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 company’s 50 day moving average price is $81.06 and its two-hundred day moving average price is $75.10.

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

Wall Street Analysts Forecast Growth

LOAR has been the topic of several research reports. Morgan Stanley boosted their price objective on shares of Loar from $75.00 to $89.00 and gave the company an “equal weight” rating in a research report on Monday, November 18th. Royal Bank of Canada reissued an “outperform” rating and set a $100.00 price target on shares of Loar in a research 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.