Empirical Financial Services LLC d.b.a. Empirical Wealth Management Invests $5.05 Million in Loar Holdings, LLC (NYSE:LOAR)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in Loar Holdings, LLC (NYSE:LOARFree Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 68,372 shares of the company’s stock, valued at approximately $5,053,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management owned approximately 0.08% of Loar at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LOAR. State Street Corp raised its stake in shares of Loar by 413.3% in the 3rd 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. Lisanti Capital Growth LLC acquired a new position in Loar in the third quarter worth about $2,667,000. The Manufacturers Life Insurance Company bought a new position in Loar during the third quarter worth about $1,247,000. BNP Paribas Financial Markets boosted its holdings in Loar by 3,444.3% during the third quarter. BNP Paribas Financial Markets now owns 10,633 shares of the company’s stock valued at $793,000 after purchasing an additional 10,333 shares in the last quarter. Finally, TimesSquare Capital Management LLC grew its stake in shares of Loar by 57.3% in the 3rd 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 period.

Wall Street Analysts Forecast Growth

LOAR has been the subject of several analyst reports. Morgan Stanley raised their target price on Loar from $75.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Monday, November 18th. Royal Bank of Canada reissued an “outperform” rating and set a $100.00 price objective on shares of Loar in a report on Thursday, November 14th.

Get Our Latest Report on LOAR

Loar Price Performance

Shares of LOAR opened at $79.86 on Monday. Loar Holdings, LLC has a one year low of $42.57 and a one year high of $96.99. The business’s 50 day simple moving average is $81.01 and its 200-day simple moving average is $75.58. 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 (NYSE:LOARGet Free Report) last posted its quarterly earnings data on Wednesday, November 13th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.02. The business had revenue of $103.52 million during the quarter, compared to analyst estimates of $97.30 million. Loar’s quarterly revenue 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.

Insider Buying and Selling at Loar

In other news, Chairman Brett N. Milgrim sold 120,305 shares of the company’s stock in a transaction 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 transaction, the chairman now owns 3,865,327 shares of the company’s stock, valued at $313,748,592.59. This represents a 3.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Raja Bobbili sold 987,248 shares of Loar stock in a transaction dated 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 sale, the director now owns 36,713,441 shares of the company’s stock, valued at approximately $2,980,030,005.97. The trade was a 2.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,135,706 shares of company stock worth $92,185,256.

Loar Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Loar (NYSE:LOAR)

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