Brett N. Milgrim Sells 120,305 Shares of Loar Holdings, LLC (NYSE:LOAR) Stock

Loar Holdings, LLC (NYSE:LOAR) Chairman Brett N. Milgrim sold 120,305 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $81.17, for a total value of $9,765,156.85. Following the sale, the chairman now directly owns 3,865,327 shares in the company, valued at $313,748,592.59. This represents a 3.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Loar Stock Performance

LOAR opened at $76.46 on Wednesday. The company has a current ratio of 3.95, a quick ratio of 2.28 and a debt-to-equity ratio of 0.78. Loar Holdings, LLC has a one year low of $42.57 and a one year high of $96.99. The business’s 50-day simple moving average is $84.50 and its 200-day simple moving average is $71.75.

Loar (NYSE:LOAR) last announced its quarterly earnings results on Wednesday, November 13th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.13 by $0.02. The company had revenue of $103.52 million during the quarter, compared to analysts’ expectations of $97.30 million. The company’s quarterly revenue was up 25.0% compared to the same quarter last year. As a group, analysts forecast that Loar Holdings, LLC will post 0.28 earnings per share for the current year.

Institutional Investors Weigh In On Loar

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Arcadia Investment Management Corp MI acquired a new position in Loar in the second quarter valued at $26,000. Amalgamated Bank acquired a new stake in shares of Loar in the 2nd quarter valued at about $37,000. nVerses Capital LLC purchased a new position in Loar during the 3rd quarter worth approximately $45,000. Linonia Partnership LP acquired a new position in Loar during the second quarter worth approximately $53,000. Finally, RiverPark Advisors LLC purchased a new stake in Loar in the second quarter valued at approximately $155,000.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on LOAR. Citigroup upped their price target on Loar from $64.00 to $88.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Morgan Stanley upped their target price on shares of Loar from $75.00 to $89.00 and gave the stock an “equal weight” rating in a research note on Monday, November 18th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $100.00 price target on shares of Loar in a research note on Thursday, November 14th.

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.