Zweig DiMenna Associates LLC Has $18.58 Million Stock Position in Loar Holdings Inc. $LOAR

Zweig DiMenna Associates LLC reduced its holdings in Loar Holdings Inc. (NYSE:LOAR) by 11.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 232,250 shares of the company’s stock after selling 28,800 shares during the period. Loar comprises about 1.3% of Zweig DiMenna Associates LLC’s holdings, making the stock its 19th largest holding. Zweig DiMenna Associates LLC owned approximately 0.25% of Loar worth $18,580,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Wasatch Advisors LP lifted its position in shares of Loar by 290.9% in the second quarter. Wasatch Advisors LP now owns 2,624,649 shares of the company’s stock worth $226,166,000 after purchasing an additional 1,953,148 shares in the last quarter. State Street Corp increased its stake in Loar by 66.3% in the 2nd quarter. State Street Corp now owns 1,660,474 shares of the company’s stock valued at $143,083,000 after buying an additional 662,224 shares during the period. Federated Hermes Inc. lifted its position in Loar by 45.1% in the 2nd quarter. Federated Hermes Inc. now owns 1,649,069 shares of the company’s stock worth $142,100,000 after buying an additional 512,416 shares in the last quarter. Alliancebernstein L.P. lifted its position in Loar by 98.0% in the 2nd quarter. Alliancebernstein L.P. now owns 1,520,064 shares of the company’s stock worth $130,984,000 after buying an additional 752,201 shares in the last quarter. Finally, Marshall Wace LLP boosted its stake in shares of Loar by 2,104.8% during the 2nd quarter. Marshall Wace LLP now owns 1,386,318 shares of the company’s stock valued at $119,459,000 after buying an additional 1,323,442 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Citigroup dropped their price target on shares of Loar from $87.00 to $81.00 and set a “buy” rating on the stock in a research note on Thursday, February 5th. The Goldman Sachs Group assumed coverage on Loar in a research report on Tuesday, November 25th. They issued a “buy” rating and a $91.00 target price on the stock. Morgan Stanley reduced their price target on Loar from $100.00 to $97.00 and set an “overweight” rating for the company in a report on Thursday, November 13th. Weiss Ratings restated a “hold (c)” rating on shares of Loar in a report on Monday, December 29th. Finally, Wall Street Zen raised shares of Loar from a “hold” rating to a “buy” rating in a research report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $90.25.

Loar Stock Up 0.3%

Shares of Loar stock opened at $64.50 on Tuesday. Loar Holdings Inc. has a 12-month low of $62.10 and a 12-month high of $99.67. The company has a quick ratio of 3.81, a current ratio of 5.92 and a debt-to-equity ratio of 0.24. The stock has a 50 day moving average price of $69.36 and a two-hundred day moving average price of $72.56. The stock has a market capitalization of $6.04 billion, a P/E ratio of 97.73 and a beta of 0.37.

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.