Envestnet Asset Management Inc. Raises Stock Position in Loar Holdings, LLC (NYSE:LOAR)

Envestnet Asset Management Inc. grew its position in shares of Loar Holdings, LLC (NYSE:LOAR) by 16.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 17,559 shares of the company’s stock after acquiring an additional 2,484 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Loar were worth $1,298,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Loar by 132.4% during the 4th quarter. Vanguard Group Inc. now owns 2,721,325 shares of the company’s stock valued at $201,133,000 after purchasing an additional 1,550,581 shares in the last quarter. TimesSquare Capital Management LLC boosted its position in Loar by 159.8% in the 4th quarter. TimesSquare Capital Management LLC now owns 1,066,525 shares of the company’s stock worth $78,827,000 after purchasing an additional 656,016 shares in the last quarter. Lord Abbett & CO. LLC raised its holdings in Loar by 71.7% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,009,558 shares of the company’s stock worth $75,303,000 after purchasing an additional 421,637 shares during the period. JPMorgan Chase & Co. boosted its holdings in Loar by 50.9% in the 4th quarter. JPMorgan Chase & Co. now owns 427,009 shares of the company’s stock worth $31,560,000 after buying an additional 144,016 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Loar in the fourth quarter worth about $30,326,000.

Analyst Ratings Changes

A number of analysts recently issued reports on LOAR shares. 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 research report on Thursday, April 3rd. Royal Bank of Canada reissued an “outperform” rating and set a $92.00 price objective on shares of Loar in a research report on Tuesday, April 1st.

Loar Trading Up 1.0 %

Shares of LOAR opened at $96.54 on Wednesday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.28 and a current ratio of 3.95. The company has a market capitalization of $9.03 billion and a PE ratio of 402.25. Loar Holdings, LLC has a fifty-two week low of $45.10 and a fifty-two week high of $99.16. The stock has a fifty day moving average of $74.85 and a two-hundred day moving average of $78.43.

Loar (NYSE:LOAR) last announced its earnings results on Monday, March 31st. The company reported $0.11 earnings per share for the quarter, meeting the consensus estimate of $0.11. The firm had revenue of $110.40 million during the quarter, compared to analysts’ expectations of $102.51 million. The business’s revenue was up 27.8% compared to the same quarter last year. As a group, analysts forecast that Loar Holdings, LLC will post 0.28 EPS for the current year.

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.