California State Teachers Retirement System Has $165,000 Position in Loar Holdings, LLC (NYSE:LOAR)

California State Teachers Retirement System boosted its holdings in Loar Holdings, LLC (NYSE:LOAR) by 184.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,226 shares of the company’s stock after acquiring an additional 1,443 shares during the period. California State Teachers Retirement System’s holdings in Loar were worth $165,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in LOAR. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Loar in the 4th quarter valued at about $2,978,000. Polar Asset Management Partners Inc. grew its position in shares of Loar by 343.9% in the fourth quarter. Polar Asset Management Partners Inc. now owns 18,200 shares of the company’s stock valued at $1,345,000 after purchasing an additional 14,100 shares during the last quarter. Public Employees Retirement System of Ohio grew its position in shares of Loar by 950.5% in the fourth quarter. Public Employees Retirement System of Ohio now owns 40,299 shares of the company’s stock valued at $2,978,000 after purchasing an additional 36,463 shares during the last quarter. Woodline Partners LP increased its stake in shares of Loar by 156.0% during the fourth quarter. Woodline Partners LP now owns 83,928 shares of the company’s stock worth $6,203,000 after purchasing an additional 51,149 shares during the period. Finally, State of Wyoming acquired a new stake in Loar during the 4th quarter worth approximately $53,000.

Loar Stock Up 0.5%

NYSE LOAR opened at $84.32 on Friday. The company has a current ratio of 3.95, a quick ratio of 2.28 and a debt-to-equity ratio of 0.78. The company has a market cap of $7.89 billion, a price-to-earnings ratio of 221.89 and a beta of 0.32. The company has a 50 day moving average of $88.25 and a 200-day moving average of $79.56. Loar Holdings, LLC has a 1-year low of $51.50 and a 1-year high of $99.67.

Loar (NYSE:LOAR) last announced its quarterly earnings data on Monday, March 31st. The company reported $0.11 earnings per share for the quarter, meeting the consensus estimate of $0.11. The company had revenue of $110.40 million during the quarter, compared to analyst estimates of $102.51 million. The firm’s revenue was up 27.8% on a year-over-year basis. On average, equities research analysts expect that Loar Holdings, LLC will post 0.28 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on LOAR. Wall Street Zen upgraded Loar from a “hold” rating to a “buy” rating in a research note on Thursday, May 22nd. Morgan Stanley started coverage on Loar in a report on Friday, May 23rd. They set an “overweight” rating and a $100.00 target price for the company. Citigroup upped their price target on shares of Loar from $91.00 to $99.00 and gave the company a “buy” rating in a research note on Thursday, May 15th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $92.00 price target on shares of Loar in a research report on Tuesday, April 1st.

Insider Activity at Loar

In related news, Director Paul S. Levy sold 175,923 shares of Loar stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $80.91, for a total value of $14,233,929.93. Following the transaction, the director now directly owns 8,012,580 shares of the company’s stock, valued at $648,297,847.80. This trade represents a 2.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Michael J. Manella sold 19,684 shares of the business’s stock in a transaction on Monday, May 19th. The stock was sold at an average price of $80.91, for a total transaction of $1,592,632.44. Following the sale, the insider now directly owns 429,960 shares in the company, valued at approximately $34,788,063.60. The trade was a 4.38% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,742,872 shares of company stock valued at $464,655,774 over the last quarter.

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.