Arrowstreet Capital Limited Partnership Acquires Shares of 21,444 Loar Holdings, LLC (NYSE:LOAR)

Arrowstreet Capital Limited Partnership acquired a new stake in Loar Holdings, LLC (NYSE:LOAR) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 21,444 shares of the company’s stock, valued at approximately $1,585,000.

A number of other hedge funds have also modified their holdings of LOAR. Corebridge Financial Inc. boosted its stake in Loar by 174.3% during the 4th quarter. Corebridge Financial Inc. now owns 524 shares of the company’s stock worth $39,000 after purchasing an additional 333 shares during the period. Arcadia Investment Management Corp MI acquired a new position in Loar in the fourth quarter valued at $61,000. R Squared Ltd purchased a new stake in shares of Loar in the fourth quarter valued at about $95,000. Amalgamated Bank boosted its stake in shares of Loar by 190.7% during the fourth quarter. Amalgamated Bank now owns 2,000 shares of the company’s stock worth $148,000 after buying an additional 1,312 shares during the period. Finally, CIBC Asset Management Inc purchased a new position in shares of Loar during the fourth quarter worth about $201,000.

Wall Street Analysts Forecast Growth

LOAR has been the subject of several analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $92.00 price objective on shares of Loar in a research note on Tuesday, April 1st. Morgan Stanley upgraded Loar from an “equal weight” rating to an “overweight” rating and set a $91.00 price target for the company in a research note on Thursday, April 3rd.

Loar Price Performance

Loar stock opened at $86.25 on Friday. The company has a market cap of $8.07 billion and a P/E ratio of 359.36. Loar Holdings, LLC has a one year low of $42.57 and a one year high of $96.99. The business has a fifty day moving average of $70.81 and a two-hundred day moving average of $77.11. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.28 and a current ratio of 3.95.

Loar (NYSE:LOAR) last announced its quarterly earnings data on Monday, March 31st. The company reported $0.11 EPS for the quarter, meeting the consensus estimate of $0.11. The company had revenue of $110.40 million during the quarter, compared to analyst estimates of $102.51 million. The company’s revenue for the quarter was up 27.8% compared to the same quarter last year. As a group, analysts predict that Loar Holdings, LLC will post 0.28 earnings per share for the current fiscal year.

About Loar

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.