US Bancorp DE Has $448,000 Stake in Loar Holdings, LLC (NYSE:LOAR)

US Bancorp DE decreased its position in shares of Loar Holdings, LLC (NYSE:LOAR) by 7.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 6,009 shares of the company’s stock after selling 507 shares during the period. US Bancorp DE’s holdings in Loar were worth $448,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Arcadia Investment Management Corp MI acquired a new stake in shares of Loar during the 2nd quarter valued at $26,000. Amalgamated Bank acquired a new stake in shares of Loar during the 2nd quarter valued at $37,000. nVerses Capital LLC acquired a new stake in shares of Loar during the 3rd quarter valued at $45,000. Linonia Partnership LP acquired a new stake in shares of Loar during the 2nd quarter valued at $53,000. Finally, RiverPark Advisors LLC acquired a new stake in shares of Loar during the 2nd quarter valued at $155,000.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on LOAR shares. Royal Bank of Canada reissued an “outperform” rating and set a $80.00 price objective on shares of Loar in a report on Monday, October 7th. Morgan Stanley raised their target price on Loar from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Finally, Citigroup raised their target price on Loar from $64.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th.

Loar Stock Up 0.5 %

LOAR stock opened at $89.31 on Tuesday. The stock has a 50-day moving average price of $77.84 and a 200-day moving average price of $65.42. Loar Holdings, LLC has a 1-year low of $42.57 and a 1-year high of $95.35. The company has a debt-to-equity ratio of 0.33, a current ratio of 4.86 and a quick ratio of 3.09.

Loar (NYSE:LOAR) last posted its quarterly earnings data on Tuesday, August 13th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.03. The business had revenue of $97.10 million during the quarter, compared to the consensus estimate of $91.70 million. Loar’s revenue was up 31.2% on a year-over-year basis. Equities research analysts expect that Loar Holdings, LLC will post 0.37 earnings per share for the current year.

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.