RBC Bearings Incorporated $RBC Shares Bought by Pinnbrook Capital Management LP

Pinnbrook Capital Management LP lifted its position in RBC Bearings Incorporated (NYSE:RBC) by 911.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,355 shares of the industrial products company’s stock after acquiring an additional 23,749 shares during the quarter. RBC Bearings accounts for approximately 1.7% of Pinnbrook Capital Management LP’s holdings, making the stock its 14th largest position. Pinnbrook Capital Management LP owned 0.08% of RBC Bearings worth $11,818,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Advisors Asset Management Inc. acquired a new position in shares of RBC Bearings in the 1st quarter worth approximately $26,000. SBI Securities Co. Ltd. grew its position in shares of RBC Bearings by 106.5% in the 4th quarter. SBI Securities Co. Ltd. now owns 64 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 33 shares in the last quarter. Larson Financial Group LLC grew its position 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 worth $32,000 after acquiring an additional 49 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of RBC Bearings in the 4th quarter worth approximately $35,000. Finally, Root Financial Partners LLC acquired a new position in shares of RBC Bearings in the 3rd quarter worth approximately $36,000.

RBC Bearings Trading Down 0.9%

Shares of RBC stock opened at $566.13 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.78 and a current ratio of 2.18. RBC Bearings Incorporated has a 1 year low of $351.19 and a 1 year high of $632.00. The stock has a fifty day moving average of $573.86 and a two-hundred day moving average of $517.38. The firm has a market capitalization of $17.91 billion, a PE ratio of 62.28, a price-to-earnings-growth ratio of 3.29 and a beta of 1.47.

RBC Bearings (NYSE:RBC) last announced its quarterly earnings results on Friday, May 15th. The industrial products company reported $3.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.31 by $0.31. RBC Bearings had a return on equity of 11.35% and a net margin of 15.37%.The company had revenue of $518.00 million during the quarter, compared to analyst estimates of $505.90 million. During the same quarter in the previous year, the firm posted $2.83 EPS. The firm’s quarterly revenue was up 18.3% on a year-over-year basis. As a group, research analysts expect that RBC Bearings Incorporated will post 13.64 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Wall Street Zen lowered RBC Bearings from a “buy” rating to a “hold” rating in a research report on Sunday, April 12th. Weiss Ratings upgraded RBC Bearings from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday. Zacks Research upgraded RBC Bearings from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 11th. The Goldman Sachs Group restated a “neutral” rating and set a $542.00 price objective on shares of RBC Bearings in a research report on Monday, February 9th. Finally, Truist Financial restated a “buy” rating and set a $615.00 price objective (up from $599.00) on shares of RBC Bearings in a research report on Tuesday. One 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. Based on data from MarketBeat, RBC Bearings has a consensus rating of “Buy” and an average target price of $584.00.

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.