Janus Henderson Group PLC Decreases Position in Loar Holdings, LLC (NYSE:LOAR)

Janus Henderson Group PLC reduced its position in shares of Loar Holdings, LLC (NYSE:LOAR) by 0.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 399,759 shares of the company’s stock after selling 241 shares during the period. Janus Henderson Group PLC owned 0.45% of Loar worth $29,818,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Arcadia Investment Management Corp MI purchased a new stake in shares of Loar during the second quarter worth approximately $26,000. nVerses Capital LLC acquired a new stake in Loar during the 3rd quarter worth $45,000. Amalgamated Bank purchased a new stake in shares of Loar during the second quarter worth $37,000. Captrust Financial Advisors raised its position in shares of Loar by 9.8% in the third quarter. Captrust Financial Advisors now owns 10,471 shares of the company’s stock valued at $781,000 after buying an additional 938 shares during the last quarter. Finally, Linonia Partnership LP purchased a new position in shares of Loar in the second quarter worth about $53,000.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $100.00 price objective on shares of Loar in a research note on Thursday, November 14th. Morgan Stanley increased their price target on Loar from $75.00 to $89.00 and gave the company an “equal weight” rating in a report on Monday, November 18th. Finally, Citigroup boosted their price objective on Loar from $64.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th.

Loar Stock Up 2.1 %

NYSE:LOAR opened at $92.00 on Friday. The company’s 50-day moving average is $83.23 and its two-hundred day moving average is $70.36. Loar Holdings, LLC has a 1-year low of $42.57 and a 1-year high of $96.60. 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 (NYSE:LOAR) last issued its quarterly earnings data 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 business 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. As a group, equities analysts anticipate that Loar Holdings, LLC will post 0.28 earnings per share for the current fiscal 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.