Global Retirement Partners LLC Has $548,000 Stock Holdings in RBC Bearings Incorporated $RBC

Global Retirement Partners LLC boosted its position in RBC Bearings Incorporated (NYSE:RBC) by 344.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,223 shares of the industrial products company’s stock after buying an additional 948 shares during the quarter. Global Retirement Partners LLC’s holdings in RBC Bearings were worth $548,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of RBC. Artisan Partners Limited Partnership raised its position in RBC Bearings by 51.7% in the 3rd quarter. Artisan Partners Limited Partnership now owns 619,592 shares of the industrial products company’s stock valued at $241,821,000 after buying an additional 211,093 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of RBC Bearings by 39,846.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 185,749 shares of the industrial products company’s stock worth $83,295,000 after acquiring an additional 185,284 shares during the period. Invesco Ltd. boosted its stake in shares of RBC Bearings by 60.5% during the 3rd quarter. Invesco Ltd. now owns 381,161 shares of the industrial products company’s stock worth $148,763,000 after acquiring an additional 143,710 shares during the period. First Trust Advisors LP boosted its stake in RBC Bearings by 36.4% in the 3rd quarter. First Trust Advisors LP now owns 352,734 shares of the industrial products company’s stock valued at $137,669,000 after purchasing an additional 94,203 shares during the period. Finally, American Century Companies Inc. boosted its stake in RBC Bearings by 34.8% in the 3rd quarter. American Century Companies Inc. now owns 207,604 shares of the industrial products company’s stock valued at $81,026,000 after purchasing an additional 53,622 shares during the period.

Wall Street Analysts Forecast Growth

RBC has been the subject of several analyst reports. Morgan Stanley lifted their price objective on RBC Bearings from $600.00 to $640.00 and gave the company an “overweight” rating in a report on Tuesday, May 19th. Wall Street Zen cut RBC Bearings from a “buy” rating to a “hold” rating in a report on Sunday, April 12th. Weiss Ratings raised RBC Bearings from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, May 19th. Zacks Research raised RBC Bearings from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 11th. Finally, KeyCorp upped their target price on RBC Bearings from $595.00 to $680.00 and gave the stock an “overweight” rating in a report on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $584.00.

RBC Bearings Stock Down 0.9%

Shares of RBC Bearings stock opened at $578.86 on Thursday. RBC Bearings Incorporated has a one year low of $355.47 and a one year high of $632.00. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.18 and a quick ratio of 0.78. The stock’s 50-day moving average is $575.69 and its 200 day moving average is $521.36. The firm has a market cap of $18.32 billion, a price-to-earnings ratio of 63.68, a PEG ratio of 3.36 and a beta of 1.47.

RBC Bearings (NYSE:RBC) last announced its earnings results on Friday, May 15th. The industrial products company reported $3.62 EPS for the quarter, beating the consensus estimate of $3.31 by $0.31. The company had revenue of $518.00 million for the quarter, compared to analyst estimates of $505.90 million. RBC Bearings had a return on equity of 11.35% and a net margin of 15.37%.The firm’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.83 EPS. Equities research analysts anticipate that RBC Bearings Incorporated will post 13.64 EPS 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.