Loar Holdings, LLC (NYSE:LOAR) Shares Purchased by Federated Hermes Inc.

Federated Hermes Inc. increased its holdings in shares of Loar Holdings, LLC (NYSE:LOAR) by 29.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 998,733 shares of the company’s stock after buying an additional 228,477 shares during the quarter. Federated Hermes Inc.’s holdings in Loar were worth $73,816,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in LOAR. Corebridge Financial Inc. increased its holdings in shares of Loar by 174.3% during the fourth quarter. Corebridge Financial Inc. now owns 524 shares of the company’s stock valued at $39,000 after acquiring an additional 333 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new stake in Loar during the 4th quarter worth approximately $61,000. R Squared Ltd acquired a new position in Loar during the 4th quarter valued at approximately $95,000. Amalgamated Bank raised its holdings in shares of Loar by 190.7% in the fourth quarter. Amalgamated Bank now owns 2,000 shares of the company’s stock worth $148,000 after buying an additional 1,312 shares during the last quarter. Finally, CIBC Asset Management Inc acquired a new stake in shares of Loar during the fourth quarter worth $201,000.

Loar Trading Down 8.7 %

NYSE LOAR opened at $69.19 on Monday. The company has a fifty day moving average of $70.68 and a 200 day moving average of $76.92. The company has a market capitalization of $6.47 billion and a PE ratio of 288.30. 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 1 year low of $42.57 and a 1 year high of $96.99.

Loar (NYSE:LOAR) last issued its earnings results on Monday, March 31st. The company reported $0.11 EPS for the quarter, hitting analysts’ consensus estimates of $0.11. The company had revenue of $110.40 million during the quarter, compared to analysts’ expectations of $102.51 million. The business’s revenue for the quarter was up 27.8% compared to the same quarter last year. Research analysts forecast that Loar Holdings, LLC will post 0.28 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Morgan Stanley upgraded Loar from an “equal weight” rating to an “overweight” rating and set a $91.00 target price for the company in a research note on Thursday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $92.00 target price on shares of Loar in a report on Tuesday, April 1st.

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.