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 business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $81.17, for a total value of $9,765,156.85. Following the completion of the sale, the chairman now owns 3,865,327 shares in the company, valued at approximately $313,748,592.59. This trade represents a 3.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Loar Trading Down 2.1 %

NYSE:LOAR opened at $74.68 on Thursday. Loar Holdings, LLC has a 52-week low of $42.57 and a 52-week high of $96.99. The company has a quick ratio of 2.28, a current ratio of 3.95 and a debt-to-equity ratio of 0.78. The stock’s 50-day simple moving average is $84.53 and its 200 day simple moving average is $71.89.

Loar (NYSE:LOAR) last posted its quarterly earnings results on Wednesday, November 13th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.02. The company had revenue of $103.52 million for the quarter, compared to analyst estimates of $97.30 million. The firm’s revenue for the quarter was up 25.0% on a year-over-year basis. On average, analysts forecast that Loar Holdings, LLC will post 0.28 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Morgan Stanley boosted their target price on Loar from $75.00 to $89.00 and gave the company an “equal weight” rating in a research note on Monday, November 18th. Royal Bank of Canada reissued an “outperform” rating and issued a $100.00 price objective on shares of Loar in a research report on Thursday, November 14th.

Institutional Trading of Loar

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Select Equity Group L.P. acquired a new stake in shares of Loar in the second quarter valued at approximately $911,000. Emerald Advisers LLC acquired a new stake in Loar during the 2nd quarter valued at $1,146,000. Lisanti Capital Growth LLC acquired a new stake in Loar during the 3rd quarter valued at $2,667,000. The Manufacturers Life Insurance Company bought a new position in Loar during the third quarter worth $1,247,000. Finally, Abrams Capital Management L.P. acquired a new position in shares of Loar in the second quarter valued at $2,052,780,000.

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.