Baker Ellis Asset Management LLC Acquires New Shares in RBC Bearings Incorporated $RBC

Baker Ellis Asset Management LLC acquired a new position in RBC Bearings Incorporated (NYSE:RBC) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,154 shares of the industrial products company’s stock, valued at approximately $450,000.

Several other institutional investors also recently bought and sold shares of the stock. Brown Advisory Inc. raised its stake in shares of RBC Bearings by 4.7% in the 2nd quarter. Brown Advisory Inc. now owns 685 shares of the industrial products company’s stock valued at $264,000 after acquiring an additional 31 shares in the last quarter. CWM LLC grew its holdings in RBC Bearings by 12.9% during the third quarter. CWM LLC now owns 289 shares of the industrial products company’s stock valued at $113,000 after purchasing an additional 33 shares during the last quarter. Vista Finance LLC raised its position in shares of RBC Bearings by 4.1% in the second quarter. Vista Finance LLC now owns 915 shares of the industrial products company’s stock valued at $352,000 after purchasing an additional 36 shares during the period. Wedmont Private Capital lifted its stake in shares of RBC Bearings by 6.2% in the third quarter. Wedmont Private Capital now owns 620 shares of the industrial products company’s stock worth $232,000 after buying an additional 36 shares during the last quarter. Finally, Apollon Wealth Management LLC grew its stake in RBC Bearings by 2.2% in the 3rd quarter. Apollon Wealth Management LLC now owns 1,706 shares of the industrial products company’s stock valued at $666,000 after buying an additional 37 shares during the last quarter.

RBC Bearings Trading Up 0.6%

Shares of RBC opened at $487.82 on Friday. The firm has a market capitalization of $15.42 billion, a PE ratio of 59.56, a price-to-earnings-growth ratio of 3.26 and a beta of 1.53. The company has a quick ratio of 1.13, a current ratio of 3.18 and a debt-to-equity ratio of 0.34. RBC Bearings Incorporated has a 12-month low of $290.56 and a 12-month high of $493.13. The stock’s fifty day simple moving average is $446.72 and its 200-day simple moving average is $409.10.

RBC Bearings (NYSE:RBC) last announced its quarterly earnings data on Monday, August 15th. The industrial products company reported $1.22 EPS for the quarter. RBC Bearings had a return on equity of 10.47% and a net margin of 15.03%.The business had revenue of $156.21 million during the quarter. As a group, research analysts predict that RBC Bearings Incorporated will post 9.16 earnings per share for the current year.

Insiders Place Their Bets

In other RBC Bearings news, Director Steven H. Kaplan sold 700 shares of RBC Bearings stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $443.00, for a total transaction of $310,100.00. Following the transaction, the director directly owned 1,999 shares in the company, valued at approximately $885,557. The trade was a 25.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on RBC. Bank of America upgraded shares of RBC Bearings from a “neutral” rating to a “buy” rating and upped their price target for the company from $390.00 to $500.00 in a report on Thursday, November 6th. Deutsche Bank Aktiengesellschaft set a $527.00 target price on RBC Bearings and gave the company a “buy” rating in a research note on Wednesday, December 17th. Zacks Research lowered RBC Bearings from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Weiss Ratings reiterated a “buy (b-)” rating on shares of RBC Bearings in a report on Monday, December 22nd. Finally, KeyCorp boosted their target price on shares of RBC Bearings from $475.00 to $535.00 and gave the stock an “overweight” rating in a research report on Tuesday. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $489.17.

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.