Zweig DiMenna Associates LLC Raises Stock Holdings in Loar Holdings Inc. $LOAR

Zweig DiMenna Associates LLC lifted its holdings in shares of Loar Holdings Inc. (NYSE:LOAR) by 48.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 261,050 shares of the company’s stock after purchasing an additional 85,125 shares during the quarter. Loar accounts for approximately 2.1% of Zweig DiMenna Associates LLC’s portfolio, making the stock its 11th largest position. Zweig DiMenna Associates LLC’s holdings in Loar were worth $22,495,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. GAMMA Investing LLC lifted its position in Loar by 204.9% during the first quarter. GAMMA Investing LLC now owns 372 shares of the company’s stock valued at $26,000 after purchasing an additional 250 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its position in shares of Loar by 5,286.7% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 808 shares of the company’s stock valued at $57,000 after buying an additional 793 shares in the last quarter. MetLife Investment Management LLC raised its position in shares of Loar by 16.1% during the 1st quarter. MetLife Investment Management LLC now owns 2,014 shares of the company’s stock valued at $142,000 after buying an additional 279 shares in the last quarter. Amalgamated Bank increased its stake in Loar by 13.1% in the first quarter. Amalgamated Bank now owns 2,261 shares of the company’s stock valued at $160,000 after acquiring an additional 261 shares during the last quarter. Finally, Jump Financial LLC bought a new position in Loar in the first quarter valued at $219,000.

Loar Stock Performance

NYSE LOAR opened at $79.24 on Friday. The company has a 50-day simple moving average of $78.07 and a two-hundred day simple moving average of $80.75. 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. The firm has a market cap of $7.42 billion, a price-to-earnings ratio of 172.26 and a beta of 0.21.

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

Analyst Ratings Changes

A number of research analysts recently commented on the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Loar in a research note on Wednesday, October 8th. Wall Street Zen upgraded Loar from a “hold” rating to a “buy” rating in a research report on Saturday, August 16th. Finally, Zacks Research upgraded Loar from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $97.00.

About Loar

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.