EULAV Asset Management Buys 12,500 Shares of RBC Bearings Incorporated $RBC

EULAV Asset Management increased its stake in shares of RBC Bearings Incorporated (NYSE:RBC) by 15.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 91,100 shares of the industrial products company’s stock after acquiring an additional 12,500 shares during the quarter. RBC Bearings comprises about 1.1% of EULAV Asset Management’s portfolio, making the stock its 28th largest holding. EULAV Asset Management owned approximately 0.29% of RBC Bearings worth $40,852,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Comerica Bank boosted its position in RBC Bearings by 19.5% during the fourth quarter. Comerica Bank now owns 90,283 shares of the industrial products company’s stock worth $40,486,000 after purchasing an additional 14,747 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in RBC Bearings by 263.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 3,737 shares of the industrial products company’s stock worth $1,788,000 after purchasing an additional 2,709 shares in the last quarter. Faithward Advisors LLC purchased a new stake in RBC Bearings during the third quarter worth $2,826,000. Flagship Harbor Advisors LLC purchased a new stake in RBC Bearings during the third quarter worth $374,000. Finally, DNB Asset Management AS boosted its position in RBC Bearings by 91.6% during the third quarter. DNB Asset Management AS now owns 6,987 shares of the industrial products company’s stock worth $2,727,000 after purchasing an additional 3,340 shares in the last quarter.

Analysts Set New Price Targets

RBC has been the topic of a number of research analyst reports. Morgan Stanley boosted their target price on RBC Bearings from $600.00 to $640.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 19th. Wall Street Zen upgraded RBC Bearings from a “hold” rating to a “buy” rating in a research report on Saturday. The Goldman Sachs Group reiterated a “neutral” rating and set a $542.00 target price on shares of RBC Bearings in a research report on Monday, February 9th. Truist Financial reiterated a “buy” rating and set a $615.00 target price (up from $599.00) on shares of RBC Bearings in a research report on Tuesday, May 19th. Finally, KeyCorp boosted their price target on RBC Bearings from $595.00 to $680.00 and gave the stock an “overweight” rating in a report on Monday, March 2nd. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, RBC Bearings has a consensus rating of “Moderate Buy” and a consensus price target of $584.00.

Insider Buying and Selling at RBC Bearings

In other news, Director Edward Stewart sold 600 shares of the business’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $592.83, for a total value of $355,698.00. Following the completion of the transaction, the director directly owned 21,337 shares of the company’s stock, valued at $12,649,213.71. The trade was a 2.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.90% of the stock is currently owned by company insiders.

RBC Bearings Stock Performance

NYSE RBC opened at $591.56 on Friday. RBC Bearings Incorporated has a fifty-two week low of $363.05 and a fifty-two week high of $632.00. The stock has a market cap of $18.72 billion, a price-to-earnings ratio of 65.08, a price-to-earnings-growth ratio of 3.41 and a beta of 1.42. The business has a fifty day moving average of $580.62 and a 200-day moving average of $527.75. The company has a quick ratio of 0.78, a current ratio of 2.18 and a debt-to-equity ratio of 0.21.

RBC Bearings (NYSE:RBC) last released its quarterly earnings results on Friday, May 15th. The industrial products company reported $3.62 earnings per share for the quarter, topping analysts’ consensus estimates of $3.31 by $0.31. RBC Bearings had a return on equity of 11.35% and a net margin of 15.37%.The company had revenue of $518.00 million during the quarter, compared to analysts’ expectations of $505.90 million. During the same period in the previous year, the firm posted $2.83 earnings per share. The business’s revenue for the quarter was up 18.3% compared to the same quarter last year. As a group, analysts predict that RBC Bearings Incorporated will post 13.58 earnings per share 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.