A power tool is provided, including a housing, a permanent magnet electric motor in the housing, and an output member coupled to the electric motor. The electric motor includes a rotor and a stator with at least a North pole and a South pole. The stator includes a lamination stack having loose laminations held together via an overmolded resin. The overmolded resin include a longitudinal overmold layer covering at least a portion of at least one of an inner or outer surfaces of the lamination stack, and two end cap portions extending laterally from the ends of the longitudinal overmold layer to firmly cover ends of the lamination stack.