TD Asset Management Inc Sells 956 Shares of RBC Bearings Incorporated $RBC

TD Asset Management Inc trimmed its holdings in RBC Bearings Incorporated (NYSE:RBC) by 4.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,926 shares of the industrial products company’s stock after selling 956 shares during the period. TD Asset Management Inc’s holdings in RBC Bearings were worth $7,387,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Advisors Asset Management Inc. bought a new stake in shares of RBC Bearings during the 1st quarter worth about $26,000. Root Financial Partners LLC acquired a new position in RBC Bearings in the third quarter valued at about $36,000. Hantz Financial Services Inc. lifted its position in RBC Bearings by 1,257.1% during the second quarter. Hantz Financial Services Inc. now owns 95 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 88 shares during the period. EverSource Wealth Advisors LLC increased its holdings in RBC Bearings by 123.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 96 shares of the industrial products company’s stock valued at $37,000 after buying an additional 53 shares during the period. Finally, Quent Capital LLC acquired a new stake in shares of RBC Bearings during the 3rd quarter worth approximately $38,000.

Analysts Set New Price Targets

Several research analysts have recently issued reports on RBC shares. KeyCorp upped their price target on shares of RBC Bearings from $595.00 to $680.00 and gave the stock an “overweight” rating in a report on Monday. Weiss Ratings reiterated a “buy (b-)” rating on shares of RBC Bearings in a research report on Monday, December 22nd. The Goldman Sachs Group reiterated a “neutral” rating and set a $542.00 price objective on shares of RBC Bearings in a report on Monday, February 9th. Bank of America upgraded RBC Bearings from a “neutral” rating to a “buy” rating and raised their price objective for the company from $390.00 to $500.00 in a research note on Thursday, November 6th. Finally, Wall Street Zen raised RBC Bearings from a “hold” rating to a “buy” rating in a report on Saturday. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $574.67.

RBC Bearings Trading Up 1.6%

NYSE RBC opened at $585.13 on Tuesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.67 and a current ratio of 1.86. RBC Bearings Incorporated has a fifty-two week low of $297.28 and a fifty-two week high of $589.16. The stock has a market cap of $18.50 billion, a P/E ratio of 68.84, a price-to-earnings-growth ratio of 3.24 and a beta of 1.47. The stock has a 50 day simple moving average of $510.62 and a two-hundred day simple moving average of $444.63.

RBC Bearings (NYSE:RBC) last released its quarterly earnings results on Thursday, February 5th. The industrial products company reported $3.04 earnings per share for the quarter, beating the consensus estimate of $2.83 by $0.21. RBC Bearings had a net margin of 15.00% and a return on equity of 10.86%. The business had revenue of $461.60 million for the quarter, compared to analysts’ expectations of $460.69 million. During the same quarter in the previous year, the business posted $2.34 earnings per share. The firm’s revenue for the quarter was up 17.0% compared to the same quarter last year. On average, analysts forecast that RBC Bearings Incorporated will post 9.16 earnings per share for the current year.

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.