Raja Bobbili Sells 987,248 Shares of Loar Holdings, LLC (NYSE:LOAR) Stock

Loar Holdings, LLC (NYSE:LOAR) Director Raja Bobbili sold 987,248 shares of Loar stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $81.17, for a total transaction of $80,134,920.16. Following the completion of the sale, the director now directly owns 36,713,441 shares in the company, valued at approximately $2,980,030,005.97. This represents a 2.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Loar Stock Down 4.3 %

LOAR opened at $76.46 on Wednesday. Loar Holdings, LLC has a 12 month low of $42.57 and a 12 month 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 company has a 50 day moving average of $84.50 and a 200 day moving average of $71.75.

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

Institutional Investors Weigh In On Loar

A number of institutional investors and hedge funds have recently modified their holdings of LOAR. Arcadia Investment Management Corp MI bought a new stake in Loar during the 2nd quarter worth approximately $26,000. Amalgamated Bank bought a new position in shares of Loar in the second quarter worth $37,000. nVerses Capital LLC bought a new position in shares of Loar in the third quarter worth $45,000. Linonia Partnership LP purchased a new stake in shares of Loar in the second quarter worth $53,000. Finally, RiverPark Advisors LLC bought a new stake in Loar during the second quarter valued at $155,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Royal Bank of Canada restated an “outperform” rating and set a $100.00 price target on shares of Loar in a research note on Thursday, November 14th. 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. Finally, Citigroup increased 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.

About Loar

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.