New England Research & Management Inc. Cuts Position in RBC Bearings Incorporated $RBC

New England Research & Management Inc. decreased its position in RBC Bearings Incorporated (NYSE:RBC) by 79.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 575 shares of the industrial products company’s stock after selling 2,225 shares during the quarter. New England Research & Management Inc.’s holdings in RBC Bearings were worth $258,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. acquired a new position in RBC Bearings during the 1st quarter worth approximately $26,000. Larson Financial Group LLC raised its holdings in shares of RBC Bearings by 148.5% in the 3rd quarter. Larson Financial Group LLC now owns 82 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 49 shares in the last quarter. Root Financial Partners LLC purchased a new stake in shares of RBC Bearings during the 3rd quarter worth $36,000. EverSource Wealth Advisors LLC lifted its position in shares of 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 purchasing an additional 53 shares during the last quarter. Finally, Quent Capital LLC acquired a new position in shares of RBC Bearings during the third quarter worth $38,000.

Wall Street Analyst Weigh In

A number of analysts have weighed in on RBC shares. Morgan Stanley restated an “overweight” rating and issued a $600.00 price target on shares of RBC Bearings in a research note on Friday, February 6th. Wall Street Zen cut RBC Bearings from a “buy” rating to a “hold” rating in a research report on Sunday, March 8th. Truist Financial increased their price objective on 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 target price on RBC Bearings from $595.00 to $680.00 and gave the stock an “overweight” rating in a research note on Monday, March 2nd. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of RBC Bearings in a report on Monday, December 22nd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $574.67.

RBC Bearings Price Performance

Shares of RBC opened at $531.61 on Friday. RBC Bearings Incorporated has a 1-year low of $297.28 and a 1-year high of $589.16. The stock has a market cap of $16.81 billion, a PE ratio of 62.54, a price-to-earnings-growth ratio of 2.98 and a beta of 1.47. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.86 and a quick ratio of 0.67. The firm has a fifty day moving average price of $535.91 and a 200 day moving average price of $459.69.

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