Wells Fargo & Company MN Buys 4,201 Shares of Loar Holdings, LLC (NYSE:LOAR)

Wells Fargo & Company MN lifted its stake in shares of Loar Holdings, LLC (NYSE:LOAR) by 179.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 6,536 shares of the company’s stock after buying an additional 4,201 shares during the quarter. Wells Fargo & Company MN’s holdings in Loar were worth $483,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Corebridge Financial Inc. lifted its position in Loar by 174.3% during the fourth quarter. Corebridge Financial Inc. now owns 524 shares of the company’s stock worth $39,000 after acquiring an additional 333 shares during the last quarter. Arcadia Investment Management Corp MI bought a new position in shares of Loar during the fourth quarter worth approximately $61,000. Picton Mahoney Asset Management lifted its holdings in Loar by 5.6% during the 4th quarter. Picton Mahoney Asset Management now owns 19,300 shares of the company’s stock worth $1,426,000 after purchasing an additional 1,030 shares during the last quarter. R Squared Ltd bought a new stake in Loar in the 4th quarter valued at $95,000. Finally, Amalgamated Bank grew its holdings in Loar by 190.7% in the 4th quarter. Amalgamated Bank now owns 2,000 shares of the company’s stock valued at $148,000 after buying an additional 1,312 shares in the last quarter.

Analyst Upgrades and Downgrades

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

Loar Stock Performance

NYSE:LOAR opened at $94.44 on Friday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.28 and a current ratio of 3.95. Loar Holdings, LLC has a fifty-two week low of $45.13 and a fifty-two week high of $99.16. The company has a market cap of $8.84 billion and a price-to-earnings ratio of 393.50. The stock has a fifty day moving average price of $76.45 and a 200-day moving average price of $78.81.

Loar (NYSE:LOAR) last posted its quarterly earnings data on Monday, March 31st. The company reported $0.11 earnings per share for the quarter, hitting the consensus estimate of $0.11. The firm had revenue of $110.40 million for the quarter, compared to the consensus estimate of $102.51 million. The firm’s revenue for the quarter was up 27.8% compared to the same quarter last year. As a group, equities analysts anticipate 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.