Moody Aldrich Partners LLC Trims Stock Position in Loar Holdings, LLC (NYSE:LOAR)

Moody Aldrich Partners LLC lowered its holdings in shares of Loar Holdings, LLC (NYSE:LOAR) by 21.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 74,404 shares of the company’s stock after selling 19,737 shares during the quarter. Moody Aldrich Partners LLC owned approximately 0.08% of Loar worth $5,550,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in LOAR. TCW Group Inc. bought a new position in shares of Loar during the 2nd quarter valued at approximately $7,366,000. Select Equity Group L.P. bought a new position in Loar in the 2nd quarter worth approximately $911,000. Emerald Advisers LLC bought a new position in Loar in the 2nd quarter worth approximately $1,146,000. Abrams Capital Management L.P. bought a new position in Loar in the 2nd quarter worth approximately $2,052,780,000. Finally, Picton Mahoney Asset Management bought a new position in Loar in the 2nd quarter worth approximately $964,000.

Analyst Ratings Changes

LOAR has been the subject of several recent analyst reports. Citigroup upped their price target on Loar from $64.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Royal Bank of Canada reiterated an “outperform” rating and set a $80.00 target price on shares of Loar in a research report on Monday, October 7th. Finally, Morgan Stanley increased their target price on Loar from $70.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th.

Loar Stock Performance

LOAR stock traded up $1.10 during midday trading on Thursday, reaching $81.17. The company’s stock had a trading volume of 37,927 shares, compared to its average volume of 283,486. The company has a quick ratio of 3.09, a current ratio of 4.86 and a debt-to-equity ratio of 0.33. The company’s fifty day moving average price is $74.28. Loar Holdings, LLC has a 1 year low of $42.57 and a 1 year high of $82.48.

Loar (NYSE:LOAR) last announced its quarterly earnings results on Tuesday, August 13th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.10 by $0.03. The firm had revenue of $97.10 million for the quarter, compared to analysts’ expectations of $91.70 million. The business’s quarterly revenue was up 31.2% compared to the same quarter last year. Analysts predict that Loar Holdings, LLC will post 0.37 earnings per share for the current 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.