JPMorgan Chase & Co. Sells 40,786 Shares of Loar Holdings, LLC (NYSE:LOAR)

JPMorgan Chase & Co. lowered its stake in Loar Holdings, LLC (NYSE:LOAR) by 12.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 282,993 shares of the company’s stock after selling 40,786 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.32% of Loar worth $21,108,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Abrams Capital Management L.P. bought a new position in Loar in the 2nd quarter valued at approximately $2,052,780,000. Federated Hermes Inc. acquired a new position in shares of Loar during the second quarter worth $38,952,000. Lord Abbett & CO. LLC lifted its stake in shares of Loar by 71.7% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,009,558 shares of the company’s stock valued at $75,303,000 after acquiring an additional 421,637 shares during the last quarter. State Street Corp boosted its holdings in shares of Loar by 413.3% during the 3rd quarter. State Street Corp now owns 416,531 shares of the company’s stock valued at $31,069,000 after acquiring an additional 335,376 shares in the last quarter. Finally, Fred Alger Management LLC bought a new stake in Loar during the 2nd quarter worth $13,085,000.

Insider Activity

In related news, Chairman Brett N. Milgrim sold 120,305 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were 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 in the company, valued at $313,748,592.59. The trade was a 3.02 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Raja Bobbili sold 987,248 shares of the firm’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 $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 $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. Insiders have sold 1,135,706 shares of company stock valued at $92,185,256 in the last ninety days.

Loar Stock Down 3.0 %

Shares of LOAR stock opened at $72.62 on Thursday. The business’s 50 day simple moving average is $83.12 and its 200 day simple moving average is $73.55. 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 Holdings, LLC has a one year low of $42.57 and a one year high of $96.99.

Loar (NYSE:LOAR) last posted its quarterly earnings data on Wednesday, November 13th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.02. The firm had revenue of $103.52 million for the quarter, compared to analyst estimates of $97.30 million. The company’s 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 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on LOAR. Royal Bank of Canada reissued an “outperform” rating and set a $100.00 price target on shares of Loar in a research note on Thursday, November 14th. Morgan Stanley lifted their target price on shares of Loar from $75.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Monday, November 18th.

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.