First Trust Advisors LP Grows Position in RBC Bearings Incorporated $RBC

First Trust Advisors LP raised its stake in shares of RBC Bearings Incorporated (NYSE:RBC) by 36.4% during the 3rd quarter, Holdings Channel.com reports. The fund owned 352,734 shares of the industrial products company’s stock after acquiring an additional 94,203 shares during the period. First Trust Advisors LP’s holdings in RBC Bearings were worth $137,669,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Barclays PLC raised its holdings in shares of RBC Bearings by 126.0% in the third quarter. Barclays PLC now owns 29,824 shares of the industrial products company’s stock valued at $11,640,000 after purchasing an additional 16,627 shares during the last quarter. Snyder Capital Management L P boosted its holdings in RBC Bearings by 13.4% during the third quarter. Snyder Capital Management L P now owns 326,241 shares of the industrial products company’s stock worth $127,329,000 after purchasing an additional 38,456 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in RBC Bearings by 59.5% during the third quarter. Victory Capital Management Inc. now owns 9,978 shares of the industrial products company’s stock worth $3,894,000 after purchasing an additional 3,723 shares during the last quarter. Segall Bryant & Hamill LLC grew its position in RBC Bearings by 5.6% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 97,574 shares of the industrial products company’s stock worth $38,082,000 after purchasing an additional 5,198 shares in the last quarter. Finally, Regents Gate Capital LLP bought a new stake in RBC Bearings in the 3rd quarter worth about $710,000.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on RBC shares. Morgan Stanley reissued an “overweight” rating and set a $600.00 target price on shares of RBC Bearings in a research report on Friday, February 6th. Deutsche Bank Aktiengesellschaft set a $527.00 target price on RBC Bearings and gave the company a “buy” rating in a report on Wednesday, December 17th. KeyCorp increased their price target on RBC Bearings from $595.00 to $680.00 and gave the company an “overweight” rating in a research report on Monday, March 2nd. The Goldman Sachs Group reiterated a “neutral” rating and set a $542.00 price target on shares of RBC Bearings in a report on Monday, February 9th. Finally, Wall Street Zen cut RBC Bearings from a “buy” rating to a “hold” rating in a research report on Sunday. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $574.67.

RBC Bearings Stock Performance

Shares of RBC stock opened at $553.13 on Monday. 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 market cap of $17.49 billion, a price-to-earnings ratio of 65.07, a P/E/G ratio of 3.10 and a beta of 1.47. RBC Bearings Incorporated has a 52 week low of $297.28 and a 52 week high of $589.16. The firm’s 50-day simple moving average is $519.14 and its two-hundred day simple moving average is $449.36.

RBC Bearings (NYSE:RBC) last released its earnings results on Thursday, February 5th. The industrial products company reported $3.04 earnings per share for the quarter, beating 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 firm had revenue of $461.60 million during the quarter, compared to the consensus estimate of $460.69 million. During the same period in the prior year, the firm earned $2.34 EPS. The company’s revenue was up 17.0% compared to the same quarter last year. As a group, equities analysts forecast that RBC Bearings Incorporated will post 9.16 earnings per share for the current year.

RBC Bearings 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.