Loar Holdings Inc. (NYSE:LOAR) Shares Purchased by Invesco Ltd.

Invesco Ltd. boosted its holdings in Loar Holdings Inc. (NYSE:LOAR) by 38.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,179,384 shares of the company’s stock after acquiring an additional 327,888 shares during the period. Invesco Ltd. owned 1.26% of Loar worth $83,323,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in LOAR. LPL Financial LLC acquired a new stake in Loar in the 4th quarter valued at about $349,000. Geode Capital Management LLC grew its stake in Loar by 93.9% in the 4th quarter. Geode Capital Management LLC now owns 340,487 shares of the company’s stock valued at $25,172,000 after acquiring an additional 164,912 shares during the last quarter. Wells Fargo & Company MN grew its stake in Loar by 179.9% in the 4th quarter. Wells Fargo & Company MN now owns 6,536 shares of the company’s stock valued at $483,000 after acquiring an additional 4,201 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Loar by 16.5% during the 4th quarter. Envestnet Asset Management Inc. now owns 17,559 shares of the company’s stock worth $1,298,000 after purchasing an additional 2,484 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of Loar by 194.0% during the 4th quarter. Legal & General Group Plc now owns 3,084 shares of the company’s stock worth $228,000 after purchasing an additional 2,035 shares during the last quarter.

Loar Trading Up 1.0%

Shares of LOAR stock opened at $70.32 on Friday. The firm has a market cap of $6.58 billion, a P/E ratio of 152.87 and a beta of 0.11. Loar Holdings Inc. has a 1-year low of $62.10 and a 1-year high of $99.67. The company has a debt-to-equity ratio of 0.25, a current ratio of 6.15 and a quick ratio of 3.21. The firm’s 50-day simple moving average is $77.69 and its 200-day simple moving average is $78.66.

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

Insider Buying and Selling at Loar

In other news, insider Dirkson R. Charles sold 88,767 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 $7,182,137.97. Following the transaction, the insider directly owned 4,043,005 shares in the company, valued at $327,119,534.55. This represents a 2.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Paul S. Levy sold 175,923 shares of the stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $80.91, for a total transaction of $14,233,929.93. Following the transaction, the director owned 8,012,580 shares in the company, valued at approximately $648,297,847.80. The trade was a 2.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 388,428 shares of company stock worth $31,427,709. 22.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Morgan Stanley assumed coverage on shares of Loar in a research note on Friday, May 23rd. They set an “overweight” rating and a $100.00 price target on the stock. Citigroup raised their price target on shares of Loar from $91.00 to $99.00 and gave the stock a “buy” rating in a research note on Thursday, May 15th. Finally, Wall Street Zen raised shares of Loar from a “hold” rating to a “buy” rating in a research note on Saturday.

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.