Russell Investments Group Ltd. Reduces Stock Position in Loar Holdings, LLC (NYSE:LOAR)

Russell Investments Group Ltd. trimmed its holdings in Loar Holdings, LLC (NYSE:LOAR) by 55.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,494 shares of the company’s stock after selling 20,385 shares during the period. Russell Investments Group Ltd.’s holdings in Loar were worth $1,219,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp increased its position in shares of 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. M&T Bank Corp bought a new stake in Loar during the 4th quarter worth approximately $306,000. New York State Common Retirement Fund lifted its stake in Loar by 14.1% in the 4th quarter. New York State Common Retirement Fund now owns 101,802 shares of the company’s stock worth $7,524,000 after purchasing an additional 12,592 shares in the last quarter. Renaissance Capital LLC boosted its holdings in Loar by 411.5% in the 4th quarter. Renaissance Capital LLC now owns 58,275 shares of the company’s stock valued at $4,307,000 after purchasing an additional 46,883 shares during the period. Finally, Arrowstreet Capital Limited Partnership purchased a new position in Loar during the fourth quarter worth about $1,585,000.

Analyst Upgrades and Downgrades

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

Loar Price Performance

Shares of Loar stock opened at $85.12 on Monday. The firm has a market capitalization of $7.96 billion and a PE ratio of 354.67. Loar Holdings, LLC has a 12 month low of $42.57 and a 12 month high of $96.99. The business’s 50-day moving average price is $72.01 and its 200-day moving average price is $77.69. 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 released its earnings results on Monday, March 31st. The company reported $0.11 EPS for the quarter, meeting the consensus estimate of $0.11. The business had revenue of $110.40 million for the quarter, compared to the consensus estimate of $102.51 million. The firm’s quarterly revenue was up 27.8% on a year-over-year basis. Sell-side analysts forecast that Loar Holdings, LLC will post 0.28 EPS for the current fiscal year.

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.