Picton Mahoney Asset Management Increases Stake in Loar Holdings, LLC (NYSE:LOAR)

Picton Mahoney Asset Management lifted its stake in shares of Loar Holdings, LLC (NYSE:LOAR) by 5.6% during the 4th quarter, HoldingsChannel reports. The fund owned 19,300 shares of the company’s stock after acquiring an additional 1,030 shares during the period. Picton Mahoney Asset Management’s holdings in Loar were worth $1,426,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Arcadia Investment Management Corp MI purchased a new position in shares of Loar during the 4th quarter worth about $61,000. R Squared Ltd purchased a new position in shares of Loar during the 4th quarter worth about $95,000. Amalgamated Bank lifted its holdings in shares of Loar by 190.7% during the 4th quarter. Amalgamated Bank now owns 2,000 shares of the company’s stock worth $148,000 after acquiring an additional 1,312 shares during the period. CIBC Asset Management Inc acquired a new stake in Loar during the 4th quarter worth approximately $201,000. Finally, Barclays PLC increased its position in Loar by 871.3% during the 3rd quarter. Barclays PLC now owns 2,943 shares of the company’s stock worth $219,000 after purchasing an additional 2,640 shares in the last quarter.

Loar Stock Performance

Shares of NYSE:LOAR opened at $66.01 on Friday. The company has a quick ratio of 2.28, a current ratio of 3.95 and a debt-to-equity ratio of 0.78. Loar Holdings, LLC has a 52-week low of $42.57 and a 52-week high of $96.99. The company has a 50 day moving average of $73.26 and a two-hundred day moving average of $77.43.

Wall Street Analyst Weigh In

LOAR has been the subject of a number of research analyst reports. Royal Bank of Canada dropped their target price on shares of Loar from $100.00 to $92.00 and set an “outperform” rating for the company in a research report on Monday, February 24th. 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.

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.