RBC Bearings (NYSE:RBC) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of RBC Bearings (NYSE:RBC) from a buy rating to a hold rating in a research note published on Saturday morning.

Other research analysts have also recently issued research reports about the company. Zacks Research cut RBC Bearings from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 3rd. Raymond James Financial upgraded shares of RBC Bearings from a “market perform” rating to an “outperform” rating and set a $645.00 price objective on the stock in a research note on Monday, August 3rd. Weiss Ratings raised shares of RBC Bearings from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, August 13th. Royal Bank Of Canada set a $645.00 target price on shares of RBC Bearings in a research report on Monday, August 3rd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $686.00 price target on shares of RBC Bearings in a report on Tuesday, August 4th. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $623.00.

RBC Bearings Stock Down 1.8%

NYSE RBC opened at $496.72 on Friday. The company has a current ratio of 2.53, a quick ratio of 0.98 and a debt-to-equity ratio of 0.21. The company has a market cap of $15.73 billion, a price-to-earnings ratio of 49.08, a PEG ratio of 2.73 and a beta of 1.40. The company has a 50 day moving average of $585.06 and a 200-day moving average of $576.07. RBC Bearings has a 1-year low of $364.50 and a 1-year high of $667.69.

RBC Bearings (NYSE:RBC) last posted its quarterly earnings data on Friday, July 31st. The industrial products company reported $3.88 EPS for the quarter, topping analysts’ consensus estimates of $3.42 by $0.46. The firm had revenue of $519.50 million for the quarter, compared to analyst estimates of $508.92 million. RBC Bearings had a return on equity of 12.06% and a net margin of 16.40%.The company’s revenue was up 19.2% on a year-over-year basis. During the same quarter last year, the company earned $2.84 EPS. On average, equities research analysts expect that RBC Bearings will post 14.12 earnings per share for the current fiscal year.

Insider Transactions at RBC Bearings

In other news, Director Edward Stewart sold 600 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $592.83, for a total value of $355,698.00. Following the sale, the director directly owned 21,337 shares in the company, valued at approximately $12,649,213.71. This trade represents a 2.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Dolores J. Ennico sold 600 shares of RBC Bearings stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $636.11, for a total transaction of $381,666.00. Following the sale, the director directly owned 7,254 shares in the company, valued at $4,614,341.94. This trade represents a 7.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 1,425 shares of company stock valued at $885,400. 1.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. California State Teachers Retirement System boosted its holdings in shares of RBC Bearings by 61,201.1% during the 2nd quarter. California State Teachers Retirement System now owns 21,261,065 shares of the industrial products company’s stock valued at $13,693,402,000 after acquiring an additional 21,226,382 shares in the last quarter. State Street Corp increased its holdings in RBC Bearings by 0.5% in the 3rd quarter. State Street Corp now owns 919,259 shares of the industrial products company’s stock worth $358,778,000 after purchasing an additional 4,568 shares in the last quarter. Geode Capital Management LLC raised its position in RBC Bearings by 8.5% in the fourth quarter. Geode Capital Management LLC now owns 619,314 shares of the industrial products company’s stock valued at $277,776,000 after purchasing an additional 48,419 shares during the last quarter. Maren Capital LLC boosted its stake in shares of RBC Bearings by 1.4% during the fourth quarter. Maren Capital LLC now owns 450,314 shares of the industrial products company’s stock valued at $201,934,000 after purchasing an additional 6,373 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of RBC Bearings by 27.5% during the first quarter. First Trust Advisors LP now owns 409,700 shares of the industrial products company’s stock valued at $222,516,000 after purchasing an additional 88,468 shares in the last quarter.

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.