Renaissance Capital LLC Has $4.31 Million Stock Holdings in Loar Holdings, LLC (NYSE:LOAR)

Renaissance Capital LLC raised its stake in Loar Holdings, LLC (NYSE:LOAR) by 411.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 58,275 shares of the company’s stock after purchasing an additional 46,883 shares during the period. Loar accounts for approximately 2.8% of Renaissance Capital LLC’s investment portfolio, making the stock its 18th biggest position. Renaissance Capital LLC owned approximately 0.06% of Loar worth $4,307,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Lord Abbett & CO. LLC grew its stake in Loar by 71.7% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,009,558 shares of the company’s stock valued at $75,303,000 after buying an additional 421,637 shares during the last quarter. State Street Corp boosted its holdings in shares of Loar by 413.3% during the third quarter. State Street Corp now owns 416,531 shares of the company’s stock worth $31,069,000 after acquiring an additional 335,376 shares during the period. TimesSquare Capital Management LLC grew its position in shares of Loar by 57.3% in the third quarter. TimesSquare Capital Management LLC now owns 410,509 shares of the company’s stock valued at $30,620,000 after purchasing an additional 149,460 shares during the last quarter. Loomis Sayles & Co. L P increased its stake in shares of 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 during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in Loar during the 4th quarter worth approximately $5,053,000.

Loar Stock Down 0.7 %

Shares of NYSE LOAR opened at $78.93 on Tuesday. The firm has a 50 day moving average price of $79.83 and a two-hundred day moving average price of $76.50. Loar Holdings, LLC has a 52-week low of $42.57 and a 52-week high of $96.99. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.28 and a current ratio of 3.95.

Loar (NYSE:LOAR) last posted its quarterly earnings data on Wednesday, November 13th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.02. The company had revenue of $103.52 million during the quarter, compared to analyst estimates of $97.30 million. The firm’s quarterly revenue was up 25.0% compared to the same quarter last year. Analysts forecast that Loar Holdings, LLC will post 0.28 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently commented on LOAR. Royal Bank of Canada restated an “outperform” rating and issued a $100.00 price target on shares of Loar in a research note on Thursday, November 14th. Morgan Stanley increased their target price on shares of Loar from $75.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Monday, November 18th.

Insider Activity

In other Loar news, insider Michael J. Manella sold 28,153 shares of Loar stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $81.17, for a total transaction of $2,285,179.01. Following the transaction, the insider now directly owns 580,388 shares of the company’s stock, valued at $47,110,093.96. The trade was a 4.63 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Brett N. Milgrim sold 120,305 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $81.17, for a total transaction of $9,765,156.85. Following the transaction, the chairman now owns 3,865,327 shares in the company, valued at approximately $313,748,592.59. This trade represents a 3.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,135,706 shares of company stock worth $92,185,256.

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.