Alliancebernstein L.P. Sells 327 Shares of Loar Holdings, LLC (NYSE:LOAR)

Alliancebernstein L.P. trimmed its position in Loar Holdings, LLC (NYSE:LOAR) by 0.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 586,638 shares of the company’s stock after selling 327 shares during the quarter. Alliancebernstein L.P.’s holdings in Loar were worth $43,358,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LOAR. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Loar in the fourth quarter worth $1,585,000. Norges Bank bought a new position in Loar in the 4th quarter worth $30,326,000. JPMorgan Chase & Co. increased its stake in Loar by 50.9% in the 4th quarter. JPMorgan Chase & Co. now owns 427,009 shares of the company’s stock worth $31,560,000 after buying an additional 144,016 shares in the last quarter. Corebridge Financial Inc. raised its holdings in 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 during the period. Finally, Vanguard Group Inc. lifted its position in shares of Loar by 132.4% in the fourth quarter. Vanguard Group Inc. now owns 2,721,325 shares of the company’s stock valued at $201,133,000 after acquiring an additional 1,550,581 shares in the last quarter.

Analyst Ratings Changes

Several research firms recently issued reports on LOAR. 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 report on Thursday. Royal Bank of Canada reiterated an “outperform” rating and set a $92.00 price objective on shares of Loar in a research report on Tuesday, April 1st.

Loar Trading Down 8.7 %

Shares of Loar stock opened at $69.19 on Friday. 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 firm has a market cap of $6.47 billion and a price-to-earnings ratio of 288.30. Loar Holdings, LLC has a twelve month low of $42.57 and a twelve month high of $96.99. The business has a 50-day moving average price of $70.68 and a 200-day moving average price of $76.90.

Loar (NYSE:LOAR) last released its quarterly earnings data on Monday, March 31st. The company reported $0.11 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.11. The firm had revenue of $110.40 million during the quarter, compared to the consensus estimate of $102.51 million. The firm’s revenue for the quarter was up 27.8% on a year-over-year basis. Equities research analysts anticipate that Loar Holdings, LLC will post 0.28 EPS for the current fiscal year.

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.