Discovery Capital Management LLC CT Takes Position in Loar Holdings, LLC (NYSE:LOAR)

Discovery Capital Management LLC CT purchased a new position in Loar Holdings, LLC (NYSE:LOAR) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 60,000 shares of the company’s stock, valued at approximately $4,435,000. Discovery Capital Management LLC CT owned 0.07% of Loar at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the stock. State Street Corp lifted its holdings in shares of Loar by 413.3% in the 3rd quarter. State Street Corp now owns 416,531 shares of the company’s stock worth $31,069,000 after buying an additional 335,376 shares during the period. The Manufacturers Life Insurance Company purchased a new position in Loar during the third quarter valued at approximately $1,247,000. New York State Common Retirement Fund raised its position in shares of 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 acquiring an additional 12,592 shares in the last quarter. M&T Bank Corp bought a new position in Loar in the fourth quarter worth about $306,000. Finally, BNP Paribas Financial Markets lifted its position in 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 acquiring an additional 10,333 shares during the last quarter.

Loar Stock Performance

Shares of Loar stock opened at $70.74 on Tuesday. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.95 and a quick ratio of 2.28. The firm has a fifty day moving average price of $71.31 and a 200 day moving average price of $77.01. Loar Holdings, LLC has a 1 year low of $42.57 and a 1 year high of $96.99.

Analyst Ratings Changes

Separately, Royal Bank of Canada decreased their price target on Loar from $100.00 to $92.00 and set an “outperform” rating for the company in a research note on Monday, February 24th.

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.