Ashford Capital Management Inc. Boosts Stock Position in RBC Bearings Incorporated $RBC

Ashford Capital Management Inc. boosted its holdings in RBC Bearings Incorporated (NYSE:RBC) by 157.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,382 shares of the industrial products company’s stock after buying an additional 2,682 shares during the quarter. Ashford Capital Management Inc.’s holdings in RBC Bearings were worth $1,965,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. State Street Corp increased its holdings in RBC Bearings by 0.5% in the third quarter. State Street Corp now owns 919,259 shares of the industrial products company’s stock valued at $358,778,000 after buying an additional 4,568 shares during the last quarter. Artisan Partners Limited Partnership grew its holdings in shares of RBC Bearings by 51.7% during the third quarter. Artisan Partners Limited Partnership now owns 619,592 shares of the industrial products company’s stock worth $241,821,000 after purchasing an additional 211,093 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of RBC Bearings by 8.5% during the fourth quarter. Geode Capital Management LLC now owns 619,314 shares of the industrial products company’s stock worth $277,776,000 after purchasing an additional 48,419 shares during the last quarter. Maren Capital LLC grew its holdings in shares of RBC Bearings by 1.4% during the fourth quarter. Maren Capital LLC now owns 450,314 shares of the industrial products company’s stock worth $201,934,000 after purchasing an additional 6,373 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of RBC Bearings during the fourth quarter worth about $175,909,000.

Insider Buying and Selling

In related news, Director Edward Stewart sold 600 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $592.83, for a total value of $355,698.00. Following the completion of the sale, the director owned 21,337 shares in the company, valued at $12,649,213.71. This trade 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 this link. 1.90% of the stock is currently owned by insiders.

RBC Bearings Price Performance

Shares of NYSE:RBC opened at $620.72 on Wednesday. The company has a quick ratio of 0.78, a current ratio of 2.18 and a debt-to-equity ratio of 0.21. The company has a market cap of $19.64 billion, a P/E ratio of 68.29, a PEG ratio of 3.57 and a beta of 1.42. RBC Bearings Incorporated has a 52 week low of $363.05 and a 52 week high of $632.00. The company has a 50-day moving average price of $588.95 and a 200 day moving average price of $536.80.

RBC Bearings (NYSE:RBC) last announced its quarterly earnings data on Friday, May 15th. The industrial products company reported $3.62 EPS for the quarter, beating analysts’ consensus estimates of $3.31 by $0.31. The firm had revenue of $518.00 million during 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 was up 18.3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.83 earnings per share. Research analysts predict that RBC Bearings Incorporated will post 13.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

RBC has been the topic of several research reports. Weiss Ratings raised RBC Bearings from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, May 19th. Morgan Stanley raised their price objective on RBC Bearings from $600.00 to $640.00 and gave the stock an “overweight” rating in a report on Tuesday, May 19th. Truist Financial reaffirmed a “buy” rating and set a $615.00 price objective (up from $599.00) on shares of RBC Bearings in a report on Tuesday, May 19th. Zacks Research lowered RBC Bearings from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 3rd. Finally, KeyCorp raised their price objective 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 given a Hold rating to the company. According to data from MarketBeat.com, RBC Bearings currently has a consensus rating of “Moderate Buy” and a consensus target price of $584.00.

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.