RBC Bearings Incorporated $RBC Shares Sold by New England Research & Management Inc.

New England Research & Management Inc. lessened its holdings in shares of RBC Bearings Incorporated (NYSE:RBC) by 79.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 575 shares of the industrial products company’s stock after selling 2,225 shares during the quarter. New England Research & Management Inc.’s holdings in RBC Bearings were worth $258,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Assetmark Inc. raised its holdings 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 buying an additional 25 shares during the period. Jones Financial Companies Lllp boosted its stake 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 period. EverSource Wealth Advisors LLC increased its position in shares of RBC Bearings by 27.1% during the third quarter. EverSource Wealth Advisors LLC now owns 122 shares of the industrial products company’s stock valued at $48,000 after acquiring an additional 26 shares during the last quarter. State of New Jersey Common Pension Fund D increased its position in shares of RBC Bearings by 0.3% during 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 acquiring an additional 27 shares during the last quarter. Finally, Allworth Financial LP raised its stake in shares of RBC Bearings by 12.1% in the 3rd quarter. Allworth Financial LP now owns 259 shares of the industrial products company’s stock valued at $101,000 after acquiring an additional 28 shares during the period.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. KeyCorp increased their price objective on shares of RBC Bearings from $595.00 to $680.00 and gave the stock an “overweight” rating in a research report on Monday, March 2nd. Morgan Stanley restated an “overweight” rating and set a $600.00 price target on shares of RBC Bearings in a research report on Friday, February 6th. Deutsche Bank Aktiengesellschaft set a $527.00 price objective on RBC Bearings and gave the company a “buy” rating in a research note on Wednesday, December 17th. Weiss Ratings reiterated a “buy (b-)” rating on shares of RBC Bearings in a report on Monday, December 22nd. Finally, Truist Financial increased their target price on RBC Bearings from $542.00 to $599.00 and gave the stock a “buy” rating in a research note on Friday, February 6th. 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 stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $574.67.

RBC Bearings Price Performance

RBC Bearings stock opened at $531.61 on Friday. The firm has a market cap of $16.81 billion, a PE ratio of 62.54, a price-to-earnings-growth ratio of 2.98 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 company has a quick ratio of 0.67, a current ratio of 1.86 and a debt-to-equity ratio of 0.22. The company’s 50 day moving average is $535.91 and its two-hundred day moving average is $459.69.

RBC Bearings (NYSE:RBC) last posted its quarterly earnings data on Thursday, February 5th. The industrial products company reported $3.04 earnings per share for the quarter, topping analysts’ consensus estimates of $2.83 by $0.21. The business had revenue of $461.60 million for the quarter, compared to analyst estimates of $460.69 million. RBC Bearings had a return on equity of 10.86% and a net margin of 15.00%.The company’s revenue was up 17.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.34 earnings per share. On average, research analysts expect that RBC Bearings Incorporated will post 9.16 EPS for the current fiscal 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.