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 Loar stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $81.17, for a total transaction of $9,765,156.85. Following the sale, the chairman now owns 3,865,327 shares of the company’s stock, valued at approximately $313,748,592.59. This represents a 3.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Loar Stock Performance

Loar stock opened at $74.68 on Thursday. The company’s 50 day simple moving average is $84.53 and its 200 day simple moving average is $71.89. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.95 and a quick ratio of 2.28. Loar Holdings, LLC has a fifty-two week low of $42.57 and a fifty-two week high of $96.99.

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

Analyst Ratings Changes

A number of research firms have commented on LOAR. Morgan Stanley lifted their target price on shares of Loar from $75.00 to $89.00 and gave the stock an “equal weight” rating in a report on Monday, November 18th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $100.00 price objective on shares of Loar in a research note on Thursday, November 14th.

Institutional Inflows and Outflows

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

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.