TCW Group Inc. Sells 117,439 Shares of Loar Holdings, LLC (NYSE:LOAR)

TCW Group Inc. lessened its stake in Loar Holdings, LLC (NYSE:LOAR) by 85.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,472 shares of the company’s stock after selling 117,439 shares during the period. TCW Group Inc.’s holdings in Loar were worth $1,527,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in LOAR. Arcadia Investment Management Corp MI purchased a new position in shares of Loar in the 2nd quarter worth $26,000. nVerses Capital LLC purchased a new position in Loar in the third quarter worth about $45,000. Amalgamated Bank purchased a new position in Loar in the second quarter worth about $37,000. Linonia Partnership LP bought a new stake in shares of Loar during the 2nd quarter valued at about $53,000. Finally, RiverPark Advisors LLC purchased a new stake in shares of Loar during the 2nd quarter valued at about $155,000.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. 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. Citigroup lifted their price target on shares of Loar from $64.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $100.00 price objective on shares of Loar in a research note on Thursday, November 14th.

Loar Stock Down 5.8 %

Loar stock opened at $79.41 on Friday. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.95 and a quick ratio of 2.28. Loar Holdings, LLC has a 12-month low of $42.57 and a 12-month high of $96.99. The firm has a 50 day moving average of $84.27 and a 200 day moving average of $71.17.

Loar (NYSE:LOAR) last released its earnings results on Wednesday, November 13th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.02. The firm had revenue of $103.52 million for the quarter, compared to analysts’ expectations of $97.30 million. The business’s revenue for the quarter was up 25.0% on a year-over-year basis. On average, analysts expect that Loar Holdings, LLC will post 0.28 earnings per share for the current fiscal year.

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.