Orion Porfolio Solutions LLC Cuts Stock Holdings in RBC Bearings Incorporated $RBC

Orion Porfolio Solutions LLC decreased its position in RBC Bearings Incorporated (NYSE:RBC) by 12.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,225 shares of the industrial products company’s stock after selling 2,674 shares during the quarter. Orion Porfolio Solutions LLC’s holdings in RBC Bearings were worth $7,503,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Advisors Asset Management Inc. bought a new position in shares of RBC Bearings during the first quarter valued at about $26,000. Root Financial Partners LLC bought a new stake in RBC Bearings in the 3rd quarter worth about $36,000. Hantz Financial Services Inc. increased its stake in RBC Bearings by 1,257.1% in the 2nd quarter. Hantz Financial Services Inc. now owns 95 shares of the industrial products company’s stock valued at $37,000 after buying an additional 88 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in RBC Bearings by 123.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 96 shares of the industrial products company’s stock valued at $37,000 after buying an additional 53 shares during the last quarter. Finally, Quent Capital LLC bought a new position in shares of RBC Bearings during the 3rd quarter worth approximately $38,000.

RBC Bearings Stock Down 2.3%

Shares of NYSE RBC opened at $553.13 on Friday. The company has a quick ratio of 0.67, a current ratio of 1.86 and a debt-to-equity ratio of 0.22. The company has a market cap of $17.49 billion, a P/E ratio of 65.07, a P/E/G ratio of 3.19 and a beta of 1.47. RBC Bearings Incorporated has a 52 week low of $297.28 and a 52 week high of $589.16. The business has a 50-day simple moving average of $519.14 and a two-hundred day simple moving average of $448.61.

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

Analysts Set New Price Targets

RBC has been the topic of a number of research analyst reports. Wall Street Zen upgraded RBC Bearings from a “hold” rating to a “buy” rating in a research note on Saturday, February 28th. The Goldman Sachs Group reiterated a “neutral” rating and set a $542.00 price target on shares of RBC Bearings in a report on Monday, February 9th. Zacks Research raised RBC Bearings from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 11th. Morgan Stanley restated an “overweight” rating and issued a $600.00 price objective on shares of RBC Bearings in a research note on Friday, February 6th. Finally, Deutsche Bank Aktiengesellschaft set a $527.00 target price on RBC Bearings and gave the stock a “buy” rating in a research note on Wednesday, December 17th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $574.67.

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.