RBC Bearings Incorporated (NYSE:RBC) Shares Acquired by Bridge City Capital LLC

Bridge City Capital LLC grew its stake in shares of RBC Bearings Incorporated (NYSE:RBC) by 0.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,857 shares of the industrial products company’s stock after acquiring an additional 61 shares during the quarter. RBC Bearings comprises approximately 2.3% of Bridge City Capital LLC’s investment portfolio, making the stock its 4th largest holding. Bridge City Capital LLC owned about 0.08% of RBC Bearings worth $7,676,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Yousif Capital Management LLC raised its stake in RBC Bearings by 3.0% in the 4th quarter. Yousif Capital Management LLC now owns 11,017 shares of the industrial products company’s stock worth $3,296,000 after acquiring an additional 321 shares during the last quarter. Robertson Stephens Wealth Management LLC increased its holdings in shares of RBC Bearings by 12.6% in the fourth quarter. Robertson Stephens Wealth Management LLC now owns 838 shares of the industrial products company’s stock valued at $251,000 after purchasing an additional 94 shares during the period. State of Alaska Department of Revenue raised its stake in shares of RBC Bearings by 5.8% in the fourth quarter. State of Alaska Department of Revenue now owns 3,565 shares of the industrial products company’s stock worth $1,066,000 after purchasing an additional 195 shares during the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of RBC Bearings during the fourth quarter worth about $7,785,000. Finally, Golden State Wealth Management LLC purchased a new stake in RBC Bearings in the fourth quarter valued at approximately $38,000.

RBC Bearings Stock Up 0.9%

RBC Bearings stock opened at $381.47 on Monday. The business’s 50-day moving average price is $344.33 and its 200 day moving average price is $336.49. The company has a quick ratio of 1.18, a current ratio of 3.43 and a debt-to-equity ratio of 0.34. The firm has a market cap of $11.98 billion, a price-to-earnings ratio of 52.40, a price-to-earnings-growth ratio of 4.42 and a beta of 1.66. RBC Bearings Incorporated has a 52 week low of $260.53 and a 52 week high of $386.41.

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Morgan Stanley reissued an “overweight” rating and set a $415.00 price target (up from $390.00) on shares of RBC Bearings in a research report on Tuesday, May 20th. Truist Financial reiterated a “buy” rating and issued a $405.00 price objective (up previously from $375.00) on shares of RBC Bearings in a research note on Monday, May 19th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $387.50.

RBC Bearings Company Profile

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.