Zweig DiMenna Associates LLC Has $18.58 Million Stock Holdings in Loar Holdings Inc. $LOAR

Zweig DiMenna Associates LLC lowered its holdings in Loar Holdings Inc. (NYSE:LOAR) by 11.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 232,250 shares of the company’s stock after selling 28,800 shares during the quarter. Loar accounts for about 1.3% of Zweig DiMenna Associates LLC’s investment portfolio, making the stock its 19th largest position. Zweig DiMenna Associates LLC’s holdings in Loar were worth $18,580,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Rakuten Securities Inc. bought a new position in Loar during the second quarter worth $27,000. PNC Financial Services Group Inc. grew its position in Loar by 390.1% during the second quarter. PNC Financial Services Group Inc. now owns 348 shares of the company’s stock worth $30,000 after buying an additional 277 shares in the last quarter. Farther Finance Advisors LLC increased its stake in Loar by 8,383.3% during the third quarter. Farther Finance Advisors LLC now owns 509 shares of the company’s stock valued at $41,000 after acquiring an additional 503 shares during the period. KBC Group NV acquired a new position in Loar in the 2nd quarter valued at approximately $82,000. Finally, Tower Research Capital LLC TRC lifted its position in shares of Loar by 347.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 970 shares of the company’s stock worth $84,000 after acquiring an additional 753 shares during the period.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. The Goldman Sachs Group started coverage on Loar in a research report on Tuesday, November 25th. They set a “buy” rating and a $91.00 price objective on the stock. Wall Street Zen upgraded shares of Loar from a “hold” rating to a “buy” rating in a research note on Saturday. Weiss Ratings reissued a “hold (c)” rating on shares of Loar in a research note on Monday, December 29th. Citigroup dropped their price target on shares of Loar from $87.00 to $81.00 and set a “buy” rating for the company in a research report on Thursday, February 5th. Finally, Morgan Stanley lowered their price objective on Loar from $100.00 to $97.00 and set an “overweight” rating on the stock in a research note on Thursday, November 13th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $90.25.

Loar Price Performance

Shares of Loar stock opened at $64.50 on Tuesday. Loar Holdings Inc. has a 1-year low of $62.10 and a 1-year high of $99.67. The firm’s 50-day moving average price is $69.36 and its two-hundred day moving average price is $72.56. The company has a current ratio of 5.92, a quick ratio of 3.81 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $6.04 billion, a price-to-earnings ratio of 97.73 and a beta of 0.37.

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.