Loar (NYSE:LOAR) Cut to “Hold” at Wall Street Zen

Loar (NYSE:LOAR) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Friday.

A number of other analysts also recently commented on LOAR. Royal Bank Of Canada reiterated an “outperform” rating and issued a $92.00 target price on shares of Loar in a report on Tuesday, April 1st. Citigroup boosted their target price on shares of Loar from $91.00 to $99.00 and gave the stock a “buy” rating in a report on Thursday, May 15th. Finally, Morgan Stanley began coverage on shares of Loar in a report on Friday, May 23rd. They issued an “overweight” rating and a $100.00 target price on the stock.

Loar Price Performance

Shares of LOAR stock opened at $76.17 on Friday. The firm has a market cap of $7.13 billion, a P/E ratio of 200.45 and a beta of 0.17. The company has a debt-to-equity ratio of 0.25, a current ratio of 5.13 and a quick ratio of 3.21. Loar has a 1-year low of $52.26 and a 1-year high of $99.67. The firm has a fifty day moving average of $83.95 and a two-hundred day moving average of $79.39.

Insiders Place Their Bets

In other Loar news, insider Glenn D’alessandro sold 19,939 shares of the stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $80.91, for a total transaction of $1,613,264.49. Following the sale, the insider owned 908,135 shares of the company’s stock, valued at $73,477,202.85. This represents a 2.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael J. Manella sold 19,684 shares of the company’s stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $80.91, for a total transaction of $1,592,632.44. Following the transaction, the insider owned 429,960 shares in the company, valued at approximately $34,788,063.60. The trade was a 4.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,742,872 shares of company stock worth $464,655,774 in the last quarter. 22.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in Loar by 0.3% during the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 40,436 shares of the company’s stock worth $2,857,000 after buying an additional 139 shares during the last quarter. Huntleigh Advisors Inc. increased its holdings in Loar by 1.6% during the first quarter. Huntleigh Advisors Inc. now owns 11,477 shares of the company’s stock worth $811,000 after buying an additional 182 shares during the last quarter. GAMMA Investing LLC increased its holdings in Loar by 204.9% during the first quarter. GAMMA Investing LLC now owns 372 shares of the company’s stock worth $26,000 after buying an additional 250 shares during the last quarter. Amalgamated Bank increased its holdings in Loar by 13.1% during the first quarter. Amalgamated Bank now owns 2,261 shares of the company’s stock worth $160,000 after buying an additional 261 shares during the last quarter. Finally, MetLife Investment Management LLC increased its holdings in Loar by 16.1% during the first quarter. MetLife Investment Management LLC now owns 2,014 shares of the company’s stock worth $142,000 after buying an additional 279 shares during the last quarter.

Loar Company 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.