Bank of New York Mellon Corp Purchases 833,626 Shares of Loar Holdings Inc. $LOAR

Bank of New York Mellon Corp raised its position in shares of Loar Holdings Inc. (NYSE:LOAR) by 837.1% in the 1st quarter, Holdings Channel reports. The firm owned 933,216 shares of the company’s stock after acquiring an additional 833,626 shares during the period. Bank of New York Mellon Corp’s holdings in Loar were worth $53,464,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Captrust Financial Advisors boosted its holdings in shares of Loar by 1.8% in the 2nd quarter. Captrust Financial Advisors now owns 12,147 shares of the company’s stock valued at $1,047,000 after purchasing an additional 214 shares in the last quarter. Xponance LLC raised its holdings in shares of Loar by 4.2% during the 4th quarter. Xponance LLC now owns 5,989 shares of the company’s stock worth $407,000 after buying an additional 240 shares in the last quarter. Federation des caisses Desjardins du Quebec raised its holdings in shares of Loar by 16.8% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 1,727 shares of the company’s stock worth $117,000 after buying an additional 248 shares in the last quarter. Rakuten Securities Inc. bought a new stake in shares of Loar during the 2nd quarter worth $27,000. Finally, Natixis Advisors LLC boosted its stake in Loar by 3.4% in the third quarter. Natixis Advisors LLC now owns 11,322 shares of the company’s stock valued at $906,000 after buying an additional 370 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on LOAR shares. Royal Bank Of Canada decreased their target price on Loar from $90.00 to $80.00 and set an “outperform” rating on the stock in a research report on Friday, May 8th. Weiss Ratings upgraded shares of Loar from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, July 10th. Citigroup lifted their price target on shares of Loar from $71.00 to $87.00 and gave the company a “buy” rating in a report on Thursday, June 25th. Morgan Stanley reiterated an “equal weight” rating and set a $82.00 price objective (down from $91.00) on shares of Loar in a research report on Wednesday, July 15th. Finally, Jefferies Financial Group set a $75.00 price objective on shares of Loar in a research note on Sunday, May 10th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $84.40.

Insider Buying and Selling

In related news, Director Taiwo K. Danmola sold 35,000 shares of Loar stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $60.59, for a total transaction of $2,120,650.00. Following the sale, the director directly owned 54,286 shares in the company, valued at $3,289,188.74. This trade represents a 39.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 20.10% of the stock is currently owned by corporate insiders.

Loar Price Performance

Loar stock opened at $70.30 on Friday. The stock has a 50-day moving average price of $69.23 and a two-hundred day moving average price of $66.71. Loar Holdings Inc. has a 12 month low of $53.15 and a 12 month high of $83.43. The company has a market capitalization of $6.58 billion, a PE ratio of 99.02 and a beta of 0.47. The company has a current ratio of 4.56, a quick ratio of 2.89 and a debt-to-equity ratio of 0.80.

Loar (NYSE:LOAR) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.19. Loar had a return on equity of 8.47% and a net margin of 12.64%.The company had revenue of $156.09 million for the quarter, compared to analysts’ expectations of $149.71 million. During the same period in the previous year, the business posted $0.16 earnings per share. The business’s quarterly revenue was up 36.1% compared to the same quarter last year. Loar has set its FY 2026 guidance at 1.260-1.300 EPS. Analysts expect that Loar Holdings Inc. will post 1.16 EPS for the current year.

Loar 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.