Insider Selling: Loar Holdings, LLC (NYSE:LOAR) Director Sells 987,248 Shares of Stock

Loar Holdings, LLC (NYSE:LOAR) Director Raja Bobbili sold 987,248 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $81.17, for a total value of $80,134,920.16. Following the completion of the transaction, the director now owns 36,713,441 shares in the company, valued at approximately $2,980,030,005.97. The trade was a 2.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Loar Trading Up 0.9 %

Shares of LOAR stock traded up $0.68 during trading hours on Monday, reaching $79.82. The company had a trading volume of 277,658 shares, compared to its average volume of 333,991. The company has a quick ratio of 2.28, a current ratio of 3.95 and a debt-to-equity ratio of 0.78. The business has a fifty day simple moving average of $84.38 and a 200-day simple moving average of $71.58. Loar Holdings, LLC has a 12 month low of $42.57 and a 12 month high of $96.99.

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

Analyst Ratings Changes

Several research analysts have issued reports on LOAR shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $100.00 price target on shares of Loar in a report on Thursday, November 14th. Citigroup increased their price target on Loar from $64.00 to $88.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Finally, Morgan Stanley increased their price target on Loar from $75.00 to $89.00 and gave the stock an “equal weight” rating in a report on Monday, November 18th.

Institutional Trading of Loar

A number of large investors have recently bought and sold shares of the company. Abrams Capital Management L.P. purchased a new position in shares of Loar in the second quarter valued at $2,052,780,000. Lord Abbett & CO. LLC grew its position in shares of Loar by 71.7% in the third quarter. Lord Abbett & CO. LLC now owns 1,009,558 shares of the company’s stock valued at $75,303,000 after purchasing an additional 421,637 shares in the last quarter. Federated Hermes Inc. purchased a new position in shares of Loar in the second quarter valued at $38,952,000. State Street Corp boosted its stake in Loar by 413.3% during 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 during the period. Finally, TimesSquare Capital Management LLC boosted its stake in Loar by 57.3% during the third quarter. TimesSquare Capital Management LLC now owns 410,509 shares of the company’s stock valued at $30,620,000 after buying an additional 149,460 shares during the period.

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.