RBC Bearings Incorporated $RBC Shares Purchased by Blair William & Co. IL

Blair William & Co. IL increased its position in shares of RBC Bearings Incorporated (NYSE:RBC) by 4.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 222,235 shares of the industrial products company’s stock after purchasing an additional 9,331 shares during the period. Blair William & Co. IL’s holdings in RBC Bearings were worth $99,657,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of RBC. Advisors Asset Management Inc. acquired a new position in shares of RBC Bearings during the first quarter worth $26,000. AQR Capital Management LLC grew its stake in shares of RBC Bearings by 27.8% during the first quarter. AQR Capital Management LLC now owns 1,297 shares of the industrial products company’s stock worth $417,000 after purchasing an additional 282 shares in the last quarter. Integrated Wealth Concepts LLC grew its stake in shares of RBC Bearings by 32.7% during the first quarter. Integrated Wealth Concepts LLC now owns 1,229 shares of the industrial products company’s stock worth $395,000 after purchasing an additional 303 shares in the last quarter. Jones Financial Companies Lllp grew its stake in shares of RBC Bearings by 64.1% during the first quarter. Jones Financial Companies Lllp now owns 1,111 shares of the industrial products company’s stock worth $357,000 after purchasing an additional 434 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of RBC Bearings by 2.0% during the first quarter. Goldman Sachs Group Inc. now owns 211,744 shares of the industrial products company’s stock worth $68,133,000 after purchasing an additional 4,253 shares in the last quarter.

Insider Activity at RBC Bearings

In other news, Director Edward Stewart sold 600 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $592.83, for a total value of $355,698.00. Following the completion of the sale, the director directly owned 21,337 shares of the company’s stock, valued at approximately $12,649,213.71. This represents a 2.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.90% of the company’s stock.

RBC Bearings Price Performance

Shares of RBC opened at $620.72 on Wednesday. RBC Bearings Incorporated has a 1-year low of $363.05 and a 1-year high of $632.00. The stock has a market cap of $19.64 billion, a PE ratio of 68.29, a price-to-earnings-growth ratio of 3.57 and a beta of 1.42. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.18 and a quick ratio of 0.78. The firm has a fifty day moving average price of $588.95 and a 200 day moving average price of $536.80.

RBC Bearings (NYSE:RBC) last announced its quarterly earnings results on Friday, May 15th. The industrial products company reported $3.62 earnings per share for the quarter, beating analysts’ consensus estimates of $3.31 by $0.31. RBC Bearings had a net margin of 15.37% and a return on equity of 11.35%. The firm had revenue of $518.00 million during the quarter, compared to analysts’ expectations of $505.90 million. During the same period in the previous year, the company earned $2.83 earnings per share. RBC Bearings’s quarterly revenue was up 18.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that RBC Bearings Incorporated will post 13.58 EPS for the current year.

Analysts Set New Price Targets

RBC has been the subject of a number of analyst reports. Wall Street Zen upgraded shares of RBC Bearings from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. Morgan Stanley boosted their price target on shares of RBC Bearings from $600.00 to $640.00 and gave the company an “overweight” rating in a research report on Tuesday, May 19th. KeyCorp boosted their price target on shares of RBC Bearings from $595.00 to $680.00 and gave the company an “overweight” rating in a research report on Monday, March 2nd. Weiss Ratings raised shares of RBC Bearings from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, May 19th. Finally, Zacks Research cut shares of RBC Bearings from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 3rd. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $584.00.

About RBC Bearings

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.