707,403 Shares in Loar Holdings Inc. $LOAR Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp purchased a new stake in Loar Holdings Inc. (NYSE:LOAR) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 707,403 shares of the company’s stock, valued at approximately $57,024,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LOAR. NewEdge Advisors LLC acquired a new stake in Loar during the 1st quarter worth approximately $332,000. Janus Henderson Group PLC lifted its stake in shares of Loar by 54.0% in the 1st quarter. Janus Henderson Group PLC now owns 411,900 shares of the company’s stock worth $23,598,000 after acquiring an additional 144,375 shares during the period. California State Teachers Retirement System boosted its holdings in shares of Loar by 26.2% in the first quarter. California State Teachers Retirement System now owns 40,360 shares of the company’s stock valued at $2,312,000 after acquiring an additional 8,372 shares in the last quarter. Readystate Asset Management LP purchased a new stake in shares of Loar in the first quarter valued at about $1,432,000. Finally, Royal Bank of Canada increased its stake in shares of Loar by 236.5% during the first quarter. Royal Bank of Canada now owns 163,154 shares of the company’s stock worth $9,348,000 after acquiring an additional 114,674 shares during the period.

Analyst Upgrades and Downgrades

Several research firms have issued reports on LOAR. Zacks Research cut Loar from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 5th. Jefferies Financial Group reaffirmed a “buy” rating and set a $88.00 price target on shares of Loar in a research note on Sunday, August 9th. Citigroup lifted their target price on shares of Loar from $71.00 to $87.00 and gave the stock a “buy” rating in a research report on Thursday, June 25th. Morgan Stanley reiterated an “equal weight” rating and issued a $82.00 price target (down from $91.00) on shares of Loar in a research report on Wednesday, July 15th. Finally, Royal Bank Of Canada upped their price objective on shares of Loar from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday, August 7th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $88.00.

Loar Price Performance

Loar stock opened at $73.30 on Thursday. The firm has a fifty day moving average of $73.66 and a 200-day moving average of $67.04. Loar Holdings Inc. has a 52-week low of $53.15 and a 52-week high of $83.43. The company has a quick ratio of 3.24, a current ratio of 4.91 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $6.87 billion, a P/E ratio of 101.81 and a beta of 0.56.

Loar (NYSE:LOAR) last posted its earnings results on Thursday, August 6th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.07. Loar had a net margin of 11.60% and a return on equity of 9.37%. The business had revenue of $171.58 million for the quarter, compared to analyst estimates of $162.80 million. During the same quarter in the previous year, the business posted $0.23 EPS. The business’s quarterly revenue was up 39.4% on a year-over-year basis. Loar has set its FY 2026 guidance at 1.320-1.360 EPS. As a group, analysts predict that Loar Holdings Inc. will post 1.2 EPS for the current year.

Loar Company 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.