Axiom Investors LLC DE Purchases 6,671 Shares of RBC Bearings Incorporated $RBC

Axiom Investors LLC DE grew its position in RBC Bearings Incorporated (NYSE:RBC) by 15.1% in the fourth quarter, Holdings Channel reports. The fund owned 50,996 shares of the industrial products company’s stock after acquiring an additional 6,671 shares during the quarter. Axiom Investors LLC DE’s holdings in RBC Bearings were worth $22,868,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Comerica Bank raised its position in RBC Bearings by 19.5% during the 4th 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 during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in RBC Bearings by 263.5% during the 4th 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 during the last quarter. Faithward Advisors LLC bought a new position in RBC Bearings during the 3rd quarter worth $2,826,000. DNB Asset Management AS raised its position in RBC Bearings by 91.6% during the 3rd 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 during the last quarter. Finally, First Trust Advisors LP raised its position in RBC Bearings by 36.4% during the 3rd quarter. First Trust Advisors LP now owns 352,734 shares of the industrial products company’s stock worth $137,669,000 after purchasing an additional 94,203 shares during the last quarter.

RBC Bearings Stock Performance

Shares of RBC Bearings stock opened at $592.52 on Wednesday. The company has a current ratio of 2.18, a quick ratio of 0.78 and a debt-to-equity ratio of 0.21. The business has a 50-day moving average price of $582.68 and a two-hundred day moving average price of $530.78. RBC Bearings Incorporated has a 1-year low of $363.05 and a 1-year high of $632.00. The company has a market cap of $18.75 billion, a P/E ratio of 65.18, a PEG ratio of 3.42 and a beta of 1.42.

RBC Bearings (NYSE:RBC) last issued 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 firm had revenue of $518.00 million during the quarter, compared to the consensus estimate of $505.90 million. During the same period last year, the business posted $2.83 EPS. The business’s revenue was up 18.3% compared to the same quarter last year. As a group, analysts anticipate that RBC Bearings Incorporated will post 13.58 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently issued reports on RBC. Weiss Ratings raised RBC Bearings from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, May 19th. Zacks Research lowered RBC Bearings from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 3rd. Wall Street Zen raised RBC Bearings from a “hold” rating to a “buy” rating in a research report on Saturday. Truist Financial reiterated a “buy” rating and set a $615.00 price target (up from $599.00) on shares of RBC Bearings in a report on Tuesday, May 19th. Finally, Morgan Stanley increased their price target on RBC Bearings from $600.00 to $640.00 and gave the stock an “overweight” rating in a report on Tuesday, May 19th. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $584.00.

Insiders Place Their Bets

In other RBC Bearings news, Director Edward Stewart sold 600 shares of the stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $592.83, for a total transaction of $355,698.00. Following the completion of the sale, the director directly owned 21,337 shares in the company, valued at approximately $12,649,213.71. This trade represents a 2.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.90% of the company’s stock.

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.