RBC Bearings Incorporated $RBC Stock: Machina Capital S.A.S. Boosts Stake

Machina Capital S.A.S. lifted its holdings in RBC Bearings Incorporated (NYSE:RBC) by 67.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,034 shares of the industrial products company’s stock after purchasing an additional 1,621 shares during the quarter. Machina Capital S.A.S.’s holdings in RBC Bearings were worth $2,014,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Gryphon Financial Partners LLC bought a new position in shares of RBC Bearings in the 3rd quarter valued at about $224,000. Clear Wave Wealth Management LLC raised its position in RBC Bearings by 7.2% during the third quarter. Clear Wave Wealth Management LLC now owns 448 shares of the industrial products company’s stock valued at $224,000 after purchasing an additional 30 shares during the period. Fulcrum Asset Management LLP purchased a new stake in RBC Bearings during the third quarter valued at approximately $1,111,000. Ethic Inc. lifted its stake in shares of RBC Bearings by 7.1% in the 3rd quarter. Ethic Inc. now owns 439 shares of the industrial products company’s stock valued at $219,000 after purchasing an additional 29 shares during the last quarter. Finally, Alps Advisors Inc. lifted its stake in shares of RBC Bearings by 14.5% in the 3rd quarter. Alps Advisors Inc. now owns 3,164 shares of the industrial products company’s stock valued at $1,580,000 after purchasing an additional 401 shares during the last quarter.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Guggenheim assumed coverage on RBC Bearings in a report on Monday, September 14th. They issued a “buy” rating and a $600.00 target price for the company. Weiss Ratings lowered shares of RBC Bearings from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, August 27th. The Goldman Sachs Group reiterated a “neutral” rating and set a $530.00 price objective on shares of RBC Bearings in a research report on Monday, November 2nd. Truist Financial increased their target price on shares of RBC Bearings from $615.00 to $646.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Finally, Wall Street Zen lowered shares of RBC Bearings from a “buy” rating to a “hold” rating in a report on Saturday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $623.38.

RBC Bearings Trading Down 1.1%

Shares of NYSE RBC opened at $488.98 on Friday. RBC Bearings Incorporated has a fifty-two week low of $418.05 and a fifty-two week high of $667.69. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.16 and a current ratio of 3.13. The company has a market cap of $15.48 billion, a price-to-earnings ratio of 43.74, a PEG ratio of 2.37 and a beta of 1.39. The business’s 50 day moving average price is $493.24 and its 200-day moving average price is $550.50.

RBC Bearings (NYSE:RBC) last announced its quarterly earnings data on Friday, October 30th. The industrial products company reported $3.74 EPS for the quarter, beating the consensus estimate of $3.53 by $0.21. RBC Bearings had a return on equity of 12.50% and a net margin of 17.51%. The company had revenue of $524.60 million for the quarter, compared to the consensus estimate of $513.95 million. During the same quarter in the prior year, the company posted $2.88 EPS. RBC Bearings’s quarterly revenue was up 15.2% on a year-over-year basis. On average, sell-side analysts expect that RBC Bearings Incorporated will post 14.14 earnings per share for the current year.

RBC Bearings Company Profile

RBC Bearings Incorporated designs and manufactures precision bearings and other engineered components for aerospace, defense and industrial applications. Its products include plain, roller and ball bearings, spherical bearings, rod ends and related motion-control components. The company’s products are used in aircraft and defense systems as well as equipment across industries such as construction, energy, transportation and automation. RBC Bearings serves customers worldwide. The company traces its roots to 1919 and has grown through product development and acquisitions.