Champlain Investment Partners LLC Lowers Position in RBC Bearings Incorporated $RBC

Champlain Investment Partners LLC decreased its stake in shares of RBC Bearings Incorporated (NYSE:RBC) by 26.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 138,119 shares of the industrial products company’s stock after selling 49,179 shares during the quarter. Champlain Investment Partners LLC’s holdings in RBC Bearings were worth $53,906,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of RBC. Advisors Asset Management Inc. purchased a new stake in RBC Bearings in the 1st quarter worth $26,000. Root Financial Partners LLC purchased a new position in shares of RBC Bearings during the third quarter valued at about $36,000. Hantz Financial Services Inc. increased its holdings in shares of RBC Bearings by 1,257.1% in the second quarter. Hantz Financial Services Inc. now owns 95 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 88 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of RBC Bearings by 123.3% in the second quarter. EverSource Wealth Advisors LLC now owns 96 shares of the industrial products company’s stock worth $37,000 after buying an additional 53 shares in the last quarter. Finally, Quent Capital LLC bought a new position in RBC Bearings during the third quarter valued at approximately $38,000.

RBC Bearings Price Performance

RBC Bearings stock opened at $585.13 on Tuesday. RBC Bearings Incorporated has a 12-month low of $297.28 and a 12-month high of $589.16. 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 firm has a 50-day moving average price of $510.62 and a 200-day moving average price of $444.63. The firm has a market capitalization of $18.50 billion, a PE ratio of 68.84, a price-to-earnings-growth ratio of 3.24 and a beta of 1.47.

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

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on RBC. Bank of America raised RBC Bearings from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $390.00 to $500.00 in a research note on Thursday, November 6th. Zacks Research upgraded shares of RBC Bearings from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 11th. The Goldman Sachs Group reiterated a “neutral” rating and set a $542.00 price objective on shares of RBC Bearings in a research report on Monday, February 9th. Wall Street Zen raised shares of RBC Bearings from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Morgan Stanley restated an “overweight” rating and set a $600.00 target price on shares of RBC Bearings in a research report on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, RBC Bearings presently has an average rating of “Buy” and a consensus price target of $574.67.

RBC Bearings 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.