Victory Capital Management Inc. Sells 132 Shares of Loar Holdings, LLC (NYSE:LOAR)

Victory Capital Management Inc. decreased its stake in shares of Loar Holdings, LLC (NYSE:LOAR) by 1.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 8,660 shares of the company’s stock after selling 132 shares during the quarter. Victory Capital Management Inc.’s holdings in Loar were worth $646,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Abrams Capital Management L.P. bought a new position in Loar during the second quarter valued at about $2,052,780,000. Federated Hermes Inc. bought a new stake in shares of Loar during the second quarter valued at approximately $38,952,000. TimesSquare Capital Management LLC raised its stake in shares of 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 in the last quarter. Fred Alger Management LLC bought a new position in Loar in the second quarter worth $13,085,000. Finally, Zweig DiMenna Associates LLC acquired a new stake in Loar during the second quarter worth $9,208,000.

Loar Trading Down 0.5 %

Shares of Loar stock opened at $88.83 on Friday. Loar Holdings, LLC has a 12-month low of $42.57 and a 12-month high of $96.60. The company has a 50-day simple moving average of $80.97 and a 200 day simple moving average of $68.49. The company has a current ratio of 3.95, a quick ratio of 2.28 and a debt-to-equity ratio of 0.78.

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

Analysts Set New Price Targets

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

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.