Loar Holdings Inc. $LOAR Shares Acquired by Rhumbline Advisers

Rhumbline Advisers boosted its stake in Loar Holdings Inc. (NYSE:LOAR) by 26.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 33,950 shares of the company’s stock after buying an additional 7,188 shares during the period. Rhumbline Advisers’ holdings in Loar were worth $2,399,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Loar by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 2,735,157 shares of the company’s stock worth $193,239,000 after acquiring an additional 13,832 shares during the period. T. Rowe Price Investment Management Inc. raised its holdings in Loar by 232.6% during the first quarter. T. Rowe Price Investment Management Inc. now owns 1,601,485 shares of the company’s stock worth $113,145,000 after purchasing an additional 1,119,958 shares in the last quarter. Invesco Ltd. lifted its position in Loar by 38.5% in the first quarter. Invesco Ltd. now owns 1,179,384 shares of the company’s stock worth $83,323,000 after purchasing an additional 327,888 shares during the period. Federated Hermes Inc. boosted its stake in Loar by 13.8% during the 1st quarter. Federated Hermes Inc. now owns 1,136,653 shares of the company’s stock valued at $80,305,000 after purchasing an additional 137,920 shares in the last quarter. Finally, Alliancebernstein L.P. increased its position in shares of Loar by 30.9% during the 1st quarter. Alliancebernstein L.P. now owns 767,863 shares of the company’s stock valued at $54,250,000 after purchasing an additional 181,225 shares during the period.

Loar Price Performance

LOAR opened at $78.50 on Wednesday. The firm has a market capitalization of $7.35 billion, a P/E ratio of 170.66 and a beta of 0.09. The stock has a fifty day moving average of $73.80 and a 200-day moving average of $78.88. The company has a quick ratio of 4.01, a current ratio of 6.15 and a debt-to-equity ratio of 0.25. Loar Holdings Inc. has a 12-month low of $62.10 and a 12-month high of $99.67.

Loar (NYSE:LOAR) last posted its quarterly earnings results on Wednesday, August 13th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.04. The firm had revenue of $123.12 million for the quarter, compared to analyst estimates of $122.17 million. Loar had a return on equity of 5.50% and a net margin of 9.82%.Loar’s quarterly revenue was up 26.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.13 earnings per share. Loar has set its FY 2025 guidance at 0.830-0.88 EPS. Equities analysts forecast that Loar Holdings Inc. will post 0.28 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on LOAR. Morgan Stanley started coverage on Loar in a report on Friday, May 23rd. They issued an “overweight” rating and a $100.00 price objective for the company. Wall Street Zen upgraded shares of Loar from a “hold” rating to a “buy” rating in a research report on Saturday, August 16th. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $97.00.

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.