US Bancorp DE Sells 503 Shares of Loar Holdings Inc. (NYSE:LOAR)

US Bancorp DE reduced its stake in Loar Holdings Inc. (NYSE:LOAR) by 17.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,320 shares of the company’s stock after selling 503 shares during the quarter. US Bancorp DE’s holdings in Loar were worth $164,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC raised its holdings in Loar by 204.9% in the 1st quarter. GAMMA Investing LLC now owns 372 shares of the company’s stock worth $26,000 after purchasing an additional 250 shares during the period. Sterling Capital Management LLC raised its holdings in Loar by 141.5% in the 4th quarter. Sterling Capital Management LLC now owns 500 shares of the company’s stock worth $37,000 after purchasing an additional 293 shares during the period. State of Wyoming bought a new position in Loar in the 4th quarter worth $53,000. Gen Wealth Partners Inc bought a new position in Loar in the 4th quarter worth $62,000. Finally, MetLife Investment Management LLC raised its holdings in Loar by 179.4% in the 4th quarter. MetLife Investment Management LLC now owns 1,735 shares of the company’s stock worth $128,000 after purchasing an additional 1,114 shares during the period.

Analysts Set New Price Targets

A number of brokerages recently commented on LOAR. Wall Street Zen raised Loar from a “hold” rating to a “buy” rating in a report on Saturday. Citigroup raised their price target on Loar from $91.00 to $99.00 and gave the company a “buy” rating in a report on Thursday, May 15th. Finally, Morgan Stanley began coverage on Loar in a report on Friday, May 23rd. They set an “overweight” rating and a $100.00 price target on the stock.

Loar Price Performance

NYSE:LOAR opened at $70.32 on Friday. The company has a quick ratio of 3.21, a current ratio of 6.15 and a debt-to-equity ratio of 0.25. The business’s 50-day simple moving average is $77.69 and its two-hundred day simple moving average is $78.66. The stock has a market cap of $6.58 billion, a PE ratio of 152.87 and a beta of 0.11. Loar Holdings Inc. has a 52 week low of $62.10 and a 52 week high of $99.67.

Loar (NYSE:LOAR) last posted its quarterly earnings results on Wednesday, August 13th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.04. The business had revenue of $123.12 million for the quarter, compared to analysts’ expectations of $122.17 million. Loar had a return on equity of 5.50% and a net margin of 9.82%. The business’s quarterly revenue was up 26.8% on a year-over-year basis. During the same period last year, the firm earned $0.13 earnings per share. As a group, analysts forecast that Loar Holdings Inc. will post 0.28 EPS for the current fiscal year.

Insider Buying and Selling at Loar

In other news, insider Glenn D’alessandro sold 19,939 shares of the firm’s stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $80.91, for a total transaction of $1,613,264.49. Following the completion of the transaction, the insider owned 908,135 shares in the company, valued at $73,477,202.85. This trade represents a 2.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Dirkson R. Charles sold 88,767 shares of the firm’s stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $80.91, for a total value of $7,182,137.97. Following the transaction, the insider owned 4,043,005 shares of the company’s stock, valued at approximately $327,119,534.55. The trade was a 2.15% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 388,428 shares of company stock valued at $31,427,709. 22.60% of the stock is currently owned by corporate insiders.

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.