Loar Holdings, LLC (NYSE:LOAR) Chairman Brett N. Milgrim Sells 120,305 Shares

Loar Holdings, LLC (NYSE:LOAR) Chairman Brett N. Milgrim sold 120,305 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $81.17, for a total transaction of $9,765,156.85. Following the completion of the sale, the chairman now owns 3,865,327 shares in the company, valued at $313,748,592.59. This represents a 3.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Loar Stock Performance

Shares of Loar stock traded up $0.73 during trading hours on Monday, hitting $79.87. 728,639 shares of the company’s stock traded hands, compared to its average volume of 336,846. 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 Holdings, LLC has a 12-month low of $42.57 and a 12-month high of $96.99. The company has a fifty day simple moving average of $84.38 and a 200-day simple moving average of $71.58.

Loar (NYSE:LOAR) last issued its quarterly earnings results on Wednesday, November 13th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.02. The firm had revenue of $103.52 million for the quarter, compared to analysts’ expectations of $97.30 million. The firm’s revenue was up 25.0% on a year-over-year basis. As a group, analysts anticipate that Loar Holdings, LLC will post 0.28 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Loar

Several large investors have recently added to or reduced their stakes in the business. Arcadia Investment Management Corp MI bought a new stake in Loar in the 2nd quarter worth approximately $26,000. Amalgamated Bank purchased a new position in shares of Loar in the 2nd quarter valued at approximately $37,000. nVerses Capital LLC bought a new stake in shares of Loar during the 3rd quarter valued at $45,000. Linonia Partnership LP purchased a new stake in Loar in the second quarter worth about $53,000. Finally, RiverPark Advisors LLC bought a new position in Loar during the 2nd quarter valued at approximately $155,000.

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.