SG Americas Securities LLC Acquires 3,178 Shares of RBC Bearings Incorporated $RBC

SG Americas Securities LLC grew its holdings in RBC Bearings Incorporated (NYSE:RBC) by 54.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,057 shares of the industrial products company’s stock after purchasing an additional 3,178 shares during the period. SG Americas Securities LLC’s holdings in RBC Bearings were worth $4,061,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of RBC. Assetmark Inc. lifted its holdings in shares of RBC Bearings by 4.6% during the third quarter. Assetmark Inc. now owns 563 shares of the industrial products company’s stock valued at $220,000 after purchasing an additional 25 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in RBC Bearings by 2.7% in the 3rd quarter. Jones Financial Companies Lllp now owns 994 shares of the industrial products company’s stock worth $383,000 after buying an additional 26 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in RBC Bearings by 27.1% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 122 shares of the industrial products company’s stock worth $48,000 after buying an additional 26 shares in the last quarter. State of New Jersey Common Pension Fund D raised its position in RBC Bearings by 0.3% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 10,070 shares of the industrial products company’s stock worth $3,930,000 after buying an additional 27 shares during the last quarter. Finally, Allworth Financial LP raised its position in RBC Bearings by 12.1% in the 3rd quarter. Allworth Financial LP now owns 259 shares of the industrial products company’s stock worth $101,000 after buying an additional 28 shares during the last quarter.

RBC Bearings Trading Down 0.7%

RBC Bearings stock opened at $548.32 on Friday. The business has a 50-day simple moving average of $544.57 and a two-hundred day simple moving average of $469.30. The company has a market cap of $17.34 billion, a P/E ratio of 64.51, a P/E/G ratio of 2.66 and a beta of 1.49. RBC Bearings Incorporated has a 52-week low of $297.28 and a 52-week high of $589.16. The company has a quick ratio of 0.67, a current ratio of 1.86 and a debt-to-equity ratio of 0.22.

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

Wall Street Analysts Forecast Growth

RBC has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft set a $527.00 price target on shares of RBC Bearings and gave the company a “buy” rating in a report on Wednesday, December 17th. Weiss Ratings restated a “buy (b-)” rating on shares of RBC Bearings in a research report on Monday, December 22nd. Wall Street Zen cut shares of RBC Bearings from a “buy” rating to a “hold” rating in a report on Sunday, March 8th. Zacks Research raised shares of RBC Bearings from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 11th. Finally, Truist Financial boosted their target price on shares of RBC Bearings from $542.00 to $599.00 and gave the company a “buy” rating in a research note on Friday, February 6th. One equities research 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 stock. Based on data from MarketBeat, RBC Bearings currently has a consensus rating of “Buy” and an average target price 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.