Loar Holdings, LLC (NYSE:LOAR) Shares Purchased by Picton Mahoney Asset Management

Picton Mahoney Asset Management boosted its position in Loar Holdings, LLC (NYSE:LOAR) by 5.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,300 shares of the company’s stock after acquiring an additional 1,030 shares during the quarter. Picton Mahoney Asset Management’s holdings in Loar were worth $1,426,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. TimesSquare Capital Management LLC raised its holdings in Loar by 159.8% in the fourth quarter. TimesSquare Capital Management LLC now owns 1,066,525 shares of the company’s stock valued at $78,827,000 after acquiring an additional 656,016 shares in the last quarter. Lord Abbett & CO. LLC raised its holdings in Loar by 71.7% in the third quarter. Lord Abbett & CO. LLC now owns 1,009,558 shares of the company’s stock valued at $75,303,000 after acquiring an additional 421,637 shares in the last quarter. State Street Corp raised its holdings in Loar by 413.3% in the third quarter. State Street Corp now owns 416,531 shares of the company’s stock valued at $31,069,000 after acquiring an additional 335,376 shares in the last quarter. Loomis Sayles & Co. L P raised its holdings in Loar by 47.3% during the third quarter. Loomis Sayles & Co. L P now owns 275,500 shares of the company’s stock worth $20,550,000 after purchasing an additional 88,429 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in Loar by 36.0% during the third quarter. Franklin Resources Inc. now owns 188,766 shares of the company’s stock worth $14,556,000 after purchasing an additional 49,966 shares in the last quarter.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Royal Bank of Canada cut their price objective on shares of Loar from $100.00 to $92.00 and set an “outperform” rating on the stock in a report on Monday, February 24th. Morgan Stanley raised their price objective on shares of Loar from $75.00 to $89.00 and gave the stock an “equal weight” rating in a report on Monday, November 18th.

Loar Stock Up 4.0 %

NYSE:LOAR opened at $66.01 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. Loar Holdings, LLC has a fifty-two week low of $42.57 and a fifty-two week high of $96.99. The firm’s fifty day simple moving average is $73.26 and its 200-day simple moving average is $77.43.

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.