Blair William & Co. IL Purchases 3,111 Shares of RBC Bearings Incorporated $RBC

Blair William & Co. IL boosted its position in shares of RBC Bearings Incorporated (NYSE:RBC) by 1.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 212,904 shares of the industrial products company’s stock after acquiring an additional 3,111 shares during the quarter. Blair William & Co. IL owned 0.67% of RBC Bearings worth $83,094,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Assetmark Inc. lifted its stake in RBC Bearings by 4.6% in the 3rd quarter. Assetmark Inc. now owns 563 shares of the industrial products company’s stock valued at $220,000 after purchasing an additional 25 shares during the last quarter. Jones Financial Companies Lllp increased its position in RBC Bearings by 2.7% during the third quarter. Jones Financial Companies Lllp now owns 994 shares of the industrial products company’s stock worth $383,000 after buying an additional 26 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in RBC Bearings by 27.1% in the third quarter. EverSource Wealth Advisors LLC now owns 122 shares of the industrial products company’s stock valued at $48,000 after buying an additional 26 shares during the period. State of New Jersey Common Pension Fund D raised its stake in RBC Bearings by 0.3% in the third quarter. State of New Jersey Common Pension Fund D now owns 10,070 shares of the industrial products company’s stock valued at $3,930,000 after buying an additional 27 shares during the period. Finally, Brown Advisory Inc. lifted its position in shares of RBC Bearings by 4.7% in the second quarter. Brown Advisory Inc. now owns 685 shares of the industrial products company’s stock valued at $264,000 after buying an additional 31 shares during the last quarter.

RBC Bearings Trading Down 2.3%

Shares of RBC Bearings stock opened at $553.13 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.67 and a current ratio of 1.86. The firm has a 50-day moving average of $519.14 and a 200-day moving average of $448.61. RBC Bearings Incorporated has a 52-week low of $297.28 and a 52-week high of $589.16. The stock has a market cap of $17.49 billion, a PE ratio of 65.07, a PEG ratio of 3.19 and a beta of 1.47.

RBC Bearings (NYSE:RBC) last released its quarterly earnings results on Thursday, February 5th. The industrial products company reported $3.04 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $460.69 million. During the same period last year, the firm earned $2.34 earnings per share. RBC Bearings’s revenue for the quarter was up 17.0% compared to the same quarter last year. As a group, sell-side analysts forecast that RBC Bearings Incorporated will post 9.16 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on RBC. Truist Financial boosted their target price on RBC Bearings from $542.00 to $599.00 and gave the stock a “buy” rating in a report on Friday, February 6th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $542.00 price objective on shares of RBC Bearings in a research report on Monday, February 9th. Morgan Stanley reissued an “overweight” rating and issued a $600.00 price objective on shares of RBC Bearings in a research report on Friday, February 6th. Deutsche Bank Aktiengesellschaft set a $527.00 target price on shares of RBC Bearings and gave the stock a “buy” rating in a research note on Wednesday, December 17th. Finally, KeyCorp upped their price target on shares of RBC Bearings from $595.00 to $680.00 and gave the company an “overweight” rating in a research note on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $574.67.

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.