Corebridge Financial Inc. Buys 333 Shares of Loar Holdings, LLC (NYSE:LOAR)

Corebridge Financial Inc. lifted its holdings in Loar Holdings, LLC (NYSE:LOAR) by 174.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 524 shares of the company’s stock after buying an additional 333 shares during the period. Corebridge Financial Inc.’s holdings in Loar were worth $39,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of LOAR. Vanguard Group Inc. grew its position in Loar by 132.4% in the 4th quarter. Vanguard Group Inc. now owns 2,721,325 shares of the company’s stock valued at $201,133,000 after acquiring an additional 1,550,581 shares during the last quarter. LPL Financial LLC bought a new position in Loar in the fourth quarter worth about $349,000. Quantbot Technologies LP purchased a new position in Loar in the fourth quarter worth $3,108,000. Xponance Inc. purchased a new position in Loar during the 4th quarter worth $284,000. Finally, Picton Mahoney Asset Management boosted its holdings in Loar by 5.6% in the fourth quarter. Picton Mahoney Asset Management now owns 19,300 shares of the company’s stock worth $1,426,000 after acquiring an additional 1,030 shares in the last quarter.

Loar Price Performance

Shares of Loar stock opened at $88.61 on Wednesday. The business has a 50-day moving average price of $71.51 and a 200 day moving average price of $77.39. Loar Holdings, LLC has a twelve month low of $42.57 and a twelve month high of $96.99. The firm has a market cap of $8.29 billion and a PE ratio of 369.21. The company has a quick ratio of 2.28, a current ratio of 3.95 and a debt-to-equity ratio of 0.78.

Loar (NYSE:LOAR) last posted its quarterly earnings data on Monday, March 31st. The company reported $0.11 EPS for the quarter, hitting the consensus estimate of $0.11. The firm had revenue of $110.40 million for the quarter, compared to analysts’ expectations of $102.51 million. The company’s quarterly revenue was up 27.8% on a year-over-year basis. Sell-side analysts predict that Loar Holdings, LLC will post 0.28 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on LOAR shares. Morgan Stanley raised Loar from an “equal weight” rating to an “overweight” rating and set a $91.00 price objective on the stock in a report on Thursday, April 3rd. Royal Bank of Canada reissued an “outperform” rating and issued a $92.00 price objective on shares of Loar in a report on Tuesday, April 1st.

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.