M&T Bank Corp Takes Position in Loar Holdings, LLC (NYSE:LOAR)

M&T Bank Corp acquired a new position in shares of Loar Holdings, LLC (NYSE:LOAR) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 4,138 shares of the company’s stock, valued at approximately $306,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. TimesSquare Capital Management LLC boosted its stake in Loar by 159.8% during the fourth quarter. TimesSquare Capital Management LLC now owns 1,066,525 shares of the company’s stock worth $78,827,000 after buying an additional 656,016 shares during the period. Lord Abbett & CO. LLC lifted its holdings in shares of Loar by 71.7% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,009,558 shares of the company’s stock worth $75,303,000 after acquiring an additional 421,637 shares during the last quarter. State Street Corp boosted its position in shares of Loar by 413.3% during the 3rd quarter. State Street Corp now owns 416,531 shares of the company’s stock worth $31,069,000 after purchasing an additional 335,376 shares during the period. Loomis Sayles & Co. L P increased its holdings in Loar by 47.3% in the 3rd quarter. Loomis Sayles & Co. L P now owns 275,500 shares of the company’s stock valued at $20,550,000 after purchasing an additional 88,429 shares during the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in Loar in the fourth quarter valued at approximately $5,053,000.

Loar Stock Performance

Loar stock 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 twelve month low of $42.57 and a twelve month high of $96.99. The stock’s fifty day simple moving average is $73.26 and its 200-day simple moving average is $77.40.

Analyst Ratings Changes

Several research firms have recently commented on LOAR. Royal Bank of Canada lowered their price target on 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 raised their target price on Loar from $75.00 to $89.00 and gave the company an “equal weight” rating in a report on Monday, November 18th.

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.