Barclays PLC Acquires 2,640 Shares of Loar Holdings, LLC (NYSE:LOAR)

Barclays PLC grew its holdings in shares of Loar Holdings, LLC (NYSE:LOAR) by 871.3% in the third quarter, Holdings Channel reports. The institutional investor owned 2,943 shares of the company’s stock after acquiring an additional 2,640 shares during the period. Barclays PLC’s holdings in Loar were worth $219,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in LOAR. nVerses Capital LLC bought a new position in shares of Loar during the third quarter valued at about $45,000. Amalgamated Bank bought a new position in shares of Loar during the second quarter valued at about $37,000. Linonia Partnership LP bought a new position in shares of Loar during the second quarter valued at about $53,000. Oppenheimer Asset Management Inc. bought a new position in shares of Loar during the third quarter valued at about $230,000. Finally, Quent Capital LLC bought a new position in shares of Loar during the third quarter valued at about $236,000.

Loar Stock Performance

Shares of LOAR stock opened at $76.44 on Tuesday. The company has a quick ratio of 2.28, a current ratio of 3.95 and a debt-to-equity ratio of 0.78. Loar Holdings, LLC has a 52 week low of $42.57 and a 52 week high of $96.99. The firm’s 50-day simple moving average is $83.41 and its two-hundred day simple moving average is $73.42.

Loar (NYSE:LOAR) last posted its earnings results on Wednesday, November 13th. The company reported $0.15 earnings per share 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 analysts’ expectations of $97.30 million. The company’s revenue for the quarter was up 25.0% compared to the same quarter last year. On average, equities research analysts forecast that Loar Holdings, LLC will post 0.28 earnings per share for the current year.

Insider Activity at Loar

In related news, Chairman Brett N. Milgrim sold 120,305 shares of the business’s stock in a transaction that occurred 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 transaction, the chairman now owns 3,865,327 shares of the company’s stock, valued at approximately $313,748,592.59. The trade was a 3.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael J. Manella sold 28,153 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $81.17, for a total transaction of $2,285,179.01. Following the transaction, the insider now directly owns 580,388 shares of the company’s stock, valued at approximately $47,110,093.96. This represents a 4.63 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,135,706 shares of company stock valued at $92,185,256.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on LOAR. 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. Morgan Stanley raised their price target 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.

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.