Jefferies Financial Group Inc. bought a new stake in shares of RBC Bearings Incorporated (NYSE:RBC – Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 13,810 shares of the industrial products company’s stock, valued at approximately $6,193,000.
Other institutional investors have also added to or reduced their stakes in the company. Comerica Bank boosted its stake in shares of RBC Bearings by 19.5% in the 4th quarter. Comerica Bank now owns 90,283 shares of the industrial products company’s stock worth $40,486,000 after buying an additional 14,747 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of RBC Bearings by 4.5% in the 3rd quarter. Principal Financial Group Inc. now owns 111,443 shares of the industrial products company’s stock worth $43,495,000 after buying an additional 4,776 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of RBC Bearings by 263.5% in 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 buying an additional 2,709 shares during the last quarter. Faithward Advisors LLC purchased a new position in shares of RBC Bearings in the 3rd quarter worth $2,826,000. Finally, Flagship Harbor Advisors LLC purchased a new position in shares of RBC Bearings in the 3rd quarter worth $374,000.
Wall Street Analyst Weigh In
A number of research firms have recently issued reports on RBC. The Goldman Sachs Group restated a “neutral” rating and issued a $542.00 price target on shares of RBC Bearings in a research note on Monday, February 9th. KeyCorp lifted their target price on RBC Bearings from $595.00 to $680.00 and gave the company an “overweight” rating in a research report on Monday, March 2nd. Wall Street Zen downgraded RBC Bearings from a “buy” rating to a “hold” rating in a research report on Sunday, April 12th. Morgan Stanley lifted their target price on RBC Bearings from $600.00 to $640.00 and gave the company an “overweight” rating in a research report on Tuesday, May 19th. Finally, Truist Financial reiterated a “buy” rating and set a $615.00 target price (up from $599.00) on shares of RBC Bearings in a research report on Tuesday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $584.00.
RBC Bearings Trading Down 0.1%
Shares of RBC stock opened at $559.54 on Tuesday. RBC Bearings Incorporated has a 12-month low of $351.19 and a 12-month high of $632.00. 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 stock’s 50-day moving average price is $574.09 and its 200-day moving average price is $519.24. The stock has a market capitalization of $17.70 billion, a price-to-earnings ratio of 61.56, a price-to-earnings-growth ratio of 3.22 and a beta of 1.47.
RBC Bearings (NYSE:RBC – Get Free Report) last issued its quarterly earnings data on Friday, May 15th. The industrial products company reported $3.62 earnings per share for the quarter, topping the consensus estimate of $3.31 by $0.31. RBC Bearings had a return on equity of 11.35% and a net margin of 15.37%.The company had revenue of $518.00 million for the quarter, compared to analysts’ expectations of $505.90 million. During the same period in the previous year, the firm posted $2.83 earnings per share. The firm’s revenue for the quarter was up 18.3% on a year-over-year basis. Equities research analysts predict that RBC Bearings Incorporated will post 13.64 EPS for the current fiscal year.
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.
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