RBC Bearings Incorporated $RBC Position Trimmed by Bridge City Capital LLC

Bridge City Capital LLC lessened its holdings in RBC Bearings Incorporated (NYSE:RBC) by 8.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,337 shares of the industrial products company’s stock after selling 1,688 shares during the quarter. RBC Bearings comprises 2.3% of Bridge City Capital LLC’s portfolio, making the stock its 4th largest position. Bridge City Capital LLC owned approximately 0.05% of RBC Bearings worth $7,774,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Kestra Advisory Services LLC purchased a new stake in RBC Bearings in the fourth quarter worth about $227,000. CANADA LIFE ASSURANCE Co grew its holdings in RBC Bearings by 1.3% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 18,048 shares of the industrial products company’s stock worth $8,097,000 after purchasing an additional 233 shares during the period. Segall Bryant & Hamill LLC grew its holdings in shares of RBC Bearings by 3.9% during the fourth quarter. Segall Bryant & Hamill LLC now owns 101,387 shares of the industrial products company’s stock valued at $45,465,000 after buying an additional 3,813 shares during the last quarter. Walleye Capital LLC purchased a new stake in shares of RBC Bearings during the fourth quarter valued at approximately $14,103,000. Finally, Williams Jones Wealth Management LLC. grew its holdings in shares of RBC Bearings by 14.0% during the fourth quarter. Williams Jones Wealth Management LLC. now owns 935 shares of the industrial products company’s stock valued at $419,000 after buying an additional 115 shares during the last quarter.

Analyst Ratings Changes

RBC has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of RBC Bearings from a “hold” rating to a “buy” rating in a report on Saturday, June 6th. KeyCorp increased their price target on shares of RBC Bearings from $595.00 to $680.00 and gave the company an “overweight” rating in a report on Monday, March 2nd. Morgan Stanley increased their price target on shares of RBC Bearings from $600.00 to $640.00 and gave the company an “overweight” rating in a report on Tuesday, May 19th. 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, Zacks Research cut shares of RBC Bearings from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 3rd. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $584.00.

Insiders Place Their Bets

In related news, Director Edward Stewart sold 600 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $592.83, for a total transaction of $355,698.00. Following the transaction, the director owned 21,337 shares in the company, valued at $12,649,213.71. This represents a 2.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.90% of the stock is currently owned by company insiders.

RBC Bearings Stock Down 0.7%

Shares of RBC Bearings stock opened at $603.22 on Friday. The company has a market cap of $19.09 billion, a price-to-earnings ratio of 66.36, a price-to-earnings-growth ratio of 3.49 and a beta of 1.42. The company’s 50 day moving average is $586.12 and its 200 day moving average is $533.61. RBC Bearings Incorporated has a twelve month low of $363.05 and a twelve month high of $632.00. 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 issued its quarterly earnings data on Friday, May 15th. The industrial products company reported $3.62 earnings per share for the quarter, beating analysts’ consensus estimates of $3.31 by $0.31. The company had revenue of $518.00 million for the quarter, compared to the consensus estimate of $505.90 million. RBC Bearings had a net margin of 15.37% and a return on equity of 11.35%. 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 firm earned $2.83 earnings per share. Research analysts anticipate that RBC Bearings Incorporated will post 13.58 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.