Nomura Holdings Inc. Invests $1.24 Million in RBC Bearings Incorporated (NYSE:RBC)

Nomura Holdings Inc. purchased a new position in RBC Bearings Incorporated (NYSE:RBC) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,145 shares of the industrial products company’s stock, valued at approximately $1,240,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. R Squared Ltd bought a new position in shares of RBC Bearings during the 4th quarter worth $30,000. Golden State Wealth Management LLC bought a new position in RBC Bearings during the 4th quarter worth about $38,000. UMB Bank n.a. increased its position in RBC Bearings by 84.9% during the 4th quarter. UMB Bank n.a. now owns 172 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 79 shares during the period. Harbor Investment Advisory LLC purchased a new position in RBC Bearings during the 4th quarter valued at about $82,000. Finally, Quarry LP raised its holdings in shares of RBC Bearings by 30.9% in the 4th quarter. Quarry LP now owns 390 shares of the industrial products company’s stock valued at $117,000 after purchasing an additional 92 shares in the last quarter.

Analysts Set New Price Targets

RBC has been the topic of a number of recent research reports. Morgan Stanley increased their price objective on shares of RBC Bearings from $360.00 to $390.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Truist Financial dropped their target price on RBC Bearings from $410.00 to $375.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. Finally, KeyCorp lifted their price target on RBC Bearings from $375.00 to $395.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $354.20.

RBC Bearings Price Performance

Shares of RBC opened at $368.35 on Monday. The company has a 50 day moving average of $333.48 and a two-hundred day moving average of $330.46. The company has a quick ratio of 1.18, a current ratio of 3.43 and a debt-to-equity ratio of 0.34. RBC Bearings Incorporated has a twelve month low of $260.53 and a twelve month high of $372.95. The company has a market cap of $11.57 billion, a price-to-earnings ratio of 50.60, a price-to-earnings-growth ratio of 4.42 and a beta of 1.66.

RBC Bearings (NYSE:RBC) last posted its quarterly earnings data on Friday, May 16th. The industrial products company reported $2.83 earnings per share for the quarter, topping analysts’ consensus estimates of $2.70 by $0.13. RBC Bearings had a return on equity of 10.06% and a net margin of 14.59%. The firm had revenue of $437.70 million during the quarter, compared to analysts’ expectations of $440.26 million. During the same quarter last year, the firm earned $2.47 EPS. The business’s quarterly revenue was up 5.8% on a year-over-year basis. As a group, analysts predict that RBC Bearings Incorporated will post 9.16 earnings per share for the current fiscal year.

About RBC Bearings

RBC Bearings Incorporated manufactures and markets engineered precision bearings, components, and systems in the United States and internationally. It operates through two segments, Aerospace/Defense and Industrial. The company produces plain bearings with self-lubricating or metal-to-metal designs, including rod end bearings, spherical plain bearings, and journal bearings; roller bearings, such as tapered roller bearings, needle roller bearings, and needle bearing track rollers and cam followers, which are anti-friction products that are used in industrial applications and military aircraft platforms; and ball bearings include high precision aerospace, airframe control, thin section, and industrial ball bearings that utilize high precision ball elements to reduce friction in high-speed applications.