Federated Hermes Inc. Buys 228,477 Shares of Loar Holdings, LLC (NYSE:LOAR)

Federated Hermes Inc. lifted its stake in Loar Holdings, LLC (NYSE:LOAR) by 29.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 998,733 shares of the company’s stock after purchasing an additional 228,477 shares during the quarter. Federated Hermes Inc. owned about 1.11% of Loar worth $73,816,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. State Street Corp increased its position in Loar by 413.3% during 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 during the last quarter. The Manufacturers Life Insurance Company bought a new position in Loar during the 3rd quarter valued at about $1,247,000. New York State Common Retirement Fund raised its position in Loar by 14.1% in the 4th quarter. New York State Common Retirement Fund now owns 101,802 shares of the company’s stock worth $7,524,000 after purchasing an additional 12,592 shares during the period. M&T Bank Corp bought a new stake in Loar in the fourth quarter worth about $306,000. Finally, BNP Paribas Financial Markets boosted its position in shares of Loar by 3,444.3% during the third quarter. BNP Paribas Financial Markets now owns 10,633 shares of the company’s stock valued at $793,000 after buying an additional 10,333 shares during the period.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Royal Bank of Canada reissued an “outperform” rating and set a $92.00 price target on shares of Loar in a research note on Tuesday, April 1st. Morgan Stanley upgraded Loar from an “equal weight” rating to an “overweight” rating and set a $91.00 price target for the company in a report on Thursday.

Loar Trading Down 8.7 %

NYSE LOAR opened at $69.19 on Monday. Loar Holdings, LLC has a one year low of $42.57 and a one year 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. The company has a market capitalization of $6.47 billion and a price-to-earnings ratio of 288.30. The company’s 50-day simple moving average is $70.68 and its two-hundred day simple moving average is $76.92.

Loar (NYSE:LOAR) last issued its quarterly earnings data on Monday, March 31st. The company reported $0.11 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.11. The business had revenue of $110.40 million for the quarter, compared to analysts’ expectations of $102.51 million. Loar’s revenue for the quarter was up 27.8% compared to the same quarter last year. Equities analysts forecast that Loar Holdings, LLC will post 0.28 EPS for the current fiscal year.

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.