JPMorgan Chase & Co. Sells 40,786 Shares of Loar Holdings, LLC (NYSE:LOAR)

JPMorgan Chase & Co. lessened its holdings in shares of Loar Holdings, LLC (NYSE:LOAR) by 12.6% in the third quarter, HoldingsChannel.com reports. The firm owned 282,993 shares of the company’s stock after selling 40,786 shares during the period. JPMorgan Chase & Co.’s holdings in Loar were worth $21,108,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of LOAR. nVerses Capital LLC bought a new stake in Loar during the third quarter worth $45,000. Amalgamated Bank purchased a new position in Loar during the 2nd quarter worth $37,000. Captrust Financial Advisors grew its stake in shares of Loar by 9.8% in the 3rd quarter. Captrust Financial Advisors now owns 10,471 shares of the company’s stock worth $781,000 after acquiring an additional 938 shares in the last quarter. Linonia Partnership LP purchased a new stake in shares of Loar in the second quarter valued at about $53,000. Finally, Renaissance Capital LLC lifted its position in shares of Loar by 22.4% during the third quarter. Renaissance Capital LLC now owns 11,392 shares of the company’s stock valued at $850,000 after purchasing an additional 2,083 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Morgan Stanley upped their price objective on shares of Loar from $75.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Monday, November 18th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $100.00 target price on shares of Loar in a report on Thursday, November 14th.

Insider Activity at Loar

In related news, Chairman Brett N. Milgrim sold 120,305 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chairman now directly owns 3,865,327 shares of the company’s stock, valued at approximately $313,748,592.59. This trade represents a 3.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael J. Manella sold 28,153 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $81.17, for a total transaction of $2,285,179.01. Following the sale, the insider now directly owns 580,388 shares in the company, valued at $47,110,093.96. The trade was a 4.63 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,135,706 shares of company stock worth $92,185,256.

Loar Stock Down 3.0 %

Shares of NYSE:LOAR opened at $72.62 on Thursday. The company’s 50-day moving average is $83.12 and its 200 day moving average is $73.55. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.95 and a quick ratio of 2.28. Loar Holdings, LLC has a fifty-two week low of $42.57 and a fifty-two week high of $96.99.

Loar (NYSE:LOAR) last released its earnings results on Wednesday, November 13th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates 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 revenue for the quarter was up 25.0% compared to the same quarter last year. Equities analysts forecast that Loar Holdings, LLC will post 0.28 EPS for the current fiscal year.

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.