Alkeon Capital Management LLC Trims Stake in Loar Holdings, LLC (NYSE:LOAR)

Alkeon Capital Management LLC decreased its stake in shares of Loar Holdings, LLC (NYSE:LOAR) by 0.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 324,833 shares of the company’s stock after selling 167 shares during the period. Alkeon Capital Management LLC owned 0.36% of Loar worth $24,229,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in LOAR. Abrams Capital Management L.P. purchased a new stake in Loar in the 2nd quarter worth approximately $2,052,780,000. Federated Hermes Inc. purchased a new stake in shares of Loar in the second quarter valued at $38,952,000. TimesSquare Capital Management LLC increased its stake in Loar by 57.3% in the third quarter. TimesSquare Capital Management LLC now owns 410,509 shares of the company’s stock valued at $30,620,000 after purchasing an additional 149,460 shares during the last quarter. Loomis Sayles & Co. L P lifted its position in Loar by 47.3% during the third quarter. Loomis Sayles & Co. L P now owns 275,500 shares of the company’s stock worth $20,550,000 after buying an additional 88,429 shares during the period. Finally, Fred Alger Management LLC acquired a new stake in Loar in the 2nd quarter worth about $13,085,000.

Loar Trading Down 0.5 %

NYSE LOAR opened at $88.83 on Friday. 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 Holdings, LLC has a one year low of $42.57 and a one year high of $96.60. The company’s 50 day moving average price is $81.23 and its 200 day moving average price is $68.63.

Loar (NYSE:LOAR) last posted its earnings results on Wednesday, November 13th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate 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 business’s revenue for the quarter was up 25.0% on a year-over-year basis. As a group, equities research analysts forecast that Loar Holdings, LLC will post 0.28 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on LOAR. Citigroup increased their price objective on shares of Loar from $64.00 to $88.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Morgan Stanley lifted 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. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $100.00 target price on shares of Loar in a research report on Thursday, November 14th.

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.