Royal Bank of Canada Cuts Loar (NYSE:LOAR) Price Target to $92.00

Loar (NYSE:LOAR) had its price target decreased by Royal Bank of Canada from $100.00 to $92.00 in a research report sent to investors on Monday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Separately, Morgan Stanley lifted their price objective on Loar from $75.00 to $89.00 and gave the company an “equal weight” rating in a research note on Monday, November 18th.

Loar Price Performance

Shares of Loar stock opened at $69.52 on Monday. The business has a 50-day moving average of $74.98 and a 200 day moving average of $77.79. Loar has a 12 month low of $42.57 and a 12 month high of $96.99. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.28 and a current ratio of 3.95.

Insider Activity at Loar

In other Loar news, Director Raja Bobbili sold 987,248 shares of the business’s stock in a transaction on 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 sale, the director now directly owns 36,713,441 shares in the company, valued at approximately $2,980,030,005.97. The trade was a 2.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Brett N. Milgrim sold 120,305 shares of the business’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $81.17, for a total value of $9,765,156.85. Following the sale, the chairman now owns 3,865,327 shares in the company, valued at approximately $313,748,592.59. The trade was a 3.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,135,706 shares of company stock worth $92,185,256 over the last three months.

Hedge Funds Weigh In On Loar

Several institutional investors have recently added to or reduced their stakes in LOAR. Sterling Capital Management LLC increased its stake in Loar by 141.5% during the fourth quarter. Sterling Capital Management LLC now owns 500 shares of the company’s stock worth $37,000 after acquiring an additional 293 shares during the last quarter. Corebridge Financial Inc. increased its stake in Loar by 174.3% during the fourth quarter. Corebridge Financial Inc. now owns 524 shares of the company’s stock worth $39,000 after acquiring an additional 333 shares during the last quarter. Barclays PLC increased its stake in Loar by 12.1% during the fourth quarter. Barclays PLC now owns 3,298 shares of the company’s stock worth $243,000 after acquiring an additional 355 shares during the last quarter. Captrust Financial Advisors increased its stake in Loar by 4.4% during the fourth quarter. Captrust Financial Advisors now owns 10,935 shares of the company’s stock worth $808,000 after acquiring an additional 464 shares during the last quarter. Finally, State of Wyoming acquired a new stake in Loar during the fourth quarter worth about $53,000.

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.