Rhumbline Advisers Lowers Stock Position in RBC Bearings Incorporated $RBC

Rhumbline Advisers trimmed its holdings in RBC Bearings Incorporated (NYSE:RBC) by 1.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 83,843 shares of the industrial products company’s stock after selling 1,029 shares during the quarter. Rhumbline Advisers owned approximately 0.27% of RBC Bearings worth $32,723,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of RBC. Advisors Asset Management Inc. purchased a new stake in shares of RBC Bearings in the first quarter valued at about $26,000. Root Financial Partners LLC purchased a new stake in RBC Bearings during the 3rd quarter valued at approximately $36,000. Hantz Financial Services Inc. raised its stake in RBC Bearings by 1,257.1% during the 2nd quarter. Hantz Financial Services Inc. now owns 95 shares of the industrial products company’s stock valued at $37,000 after acquiring an additional 88 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in RBC Bearings by 123.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 96 shares of the industrial products company’s stock worth $37,000 after acquiring an additional 53 shares during the period. Finally, Quent Capital LLC purchased a new position in shares of RBC Bearings in the 3rd quarter valued at approximately $38,000.

Analyst Ratings Changes

RBC has been the subject of several recent research reports. Zacks Research raised RBC Bearings from a “hold” rating to a “strong-buy” rating in a report on Wednesday. Truist Financial lifted their target price on shares of RBC Bearings from $542.00 to $599.00 and gave the company a “buy” rating in a report on Friday, February 6th. KeyCorp boosted their price target on shares of RBC Bearings from $535.00 to $595.00 and gave the stock an “overweight” rating in a research note on Friday, February 6th. The Goldman Sachs Group restated a “neutral” rating and issued a $542.00 price objective on shares of RBC Bearings in a research report on Monday, February 9th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of RBC Bearings in a research report on Monday, December 22nd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, RBC Bearings currently has an average rating of “Buy” and an average target price of $560.50.

RBC Bearings Stock Up 0.6%

RBC stock opened at $553.75 on Friday. The company has a current ratio of 1.86, a quick ratio of 0.67 and a debt-to-equity ratio of 0.22. The company’s 50-day moving average price is $485.85 and its 200 day moving average price is $431.71. RBC Bearings Incorporated has a 52 week low of $297.28 and a 52 week high of $563.51. The company has a market cap of $17.51 billion, a P/E ratio of 65.15, a P/E/G ratio of 3.27 and a beta of 1.52.

RBC Bearings (NYSE:RBC) last posted its quarterly earnings results on Thursday, February 5th. The industrial products company reported $3.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.83 by $0.21. The company had revenue of $461.60 million during the quarter, compared to the consensus estimate of $460.69 million. RBC Bearings had a net margin of 15.00% and a return on equity of 10.86%. The company’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same period last year, the firm earned $2.34 EPS. On average, research analysts expect that RBC Bearings Incorporated will post 9.16 earnings per share for the current fiscal year.

RBC Bearings Company Profile

RBC Bearings Incorporated is a global designer, manufacturer and marketer of highly engineered precision bearings and components for extreme applications. The company’s product portfolio includes cylindrical roller bearings, spherical plain bearings, ball bearings, track rollers, and engineered components such as metal-to-metal and polymer bearings. These products are tailored to meet the demanding requirements of aerospace, defense and industrial customers where reliability under severe conditions is critical.

The company’s bearings and components find application in aircraft engines, auxiliary power units, landing gear systems, space and missile programs, industrial gas turbines, oil and gas drilling equipment, and heavy machinery.