Greenhouse Funds LLLP Has $91.16 Million Stock Holdings in RBC Bearings Incorporated $RBC

Greenhouse Funds LLLP increased its position in RBC Bearings Incorporated (NYSE:RBC) by 2.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 233,578 shares of the industrial products company’s stock after purchasing an additional 6,144 shares during the quarter. RBC Bearings makes up 3.3% of Greenhouse Funds LLLP’s portfolio, making the stock its 11th biggest position. Greenhouse Funds LLLP owned 0.74% of RBC Bearings worth $91,163,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. acquired a new position in RBC Bearings during the 1st quarter valued at about $26,000. Root Financial Partners LLC acquired a new stake in shares of RBC Bearings during the 3rd quarter worth approximately $36,000. EverSource Wealth Advisors LLC raised its stake in shares of RBC Bearings by 123.3% during the second quarter. EverSource Wealth Advisors LLC now owns 96 shares of the industrial products company’s stock worth $37,000 after buying an additional 53 shares during the last quarter. Quent Capital LLC bought a new stake in shares of RBC Bearings during the third quarter worth approximately $38,000. Finally, Hantz Financial Services Inc. lifted its holdings in RBC Bearings by 51.6% in the third quarter. Hantz Financial Services Inc. now owns 144 shares of the industrial products company’s stock valued at $56,000 after buying an additional 49 shares during the period.

RBC Bearings Stock Down 0.0%

Shares of NYSE RBC opened at $560.15 on Thursday. RBC Bearings Incorporated has a 52-week low of $297.28 and a 52-week high of $589.16. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.67 and a current ratio of 1.86. The stock has a market cap of $17.71 billion, a P/E ratio of 65.90, a P/E/G ratio of 3.14 and a beta of 1.47. The firm has a 50 day moving average price of $525.69 and a 200 day moving average price of $452.47.

RBC Bearings (NYSE:RBC) last posted its earnings results on Thursday, February 5th. The industrial products company reported $3.04 earnings per share for the quarter, topping the consensus estimate of $2.83 by $0.21. The company had revenue of $461.60 million for the quarter, compared to analyst estimates of $460.69 million. RBC Bearings had a net margin of 15.00% and a return on equity of 10.86%. The business’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same period last year, the business posted $2.34 earnings per share. Analysts expect that RBC Bearings Incorporated will post 9.16 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on RBC. Wall Street Zen cut shares of RBC Bearings from a “buy” rating to a “hold” rating in a research note on Sunday. Weiss Ratings reissued a “buy (b-)” rating on shares of RBC Bearings in a research note on Monday, December 22nd. KeyCorp raised their price target on RBC Bearings from $595.00 to $680.00 and gave the stock an “overweight” rating in a research report on Monday, March 2nd. Truist Financial lifted their price objective on RBC Bearings from $542.00 to $599.00 and gave the stock a “buy” rating in a research note on Friday, February 6th. Finally, Deutsche Bank Aktiengesellschaft set a $527.00 price objective on RBC Bearings and gave the company a “buy” rating in a report on Wednesday, December 17th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $574.67.

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.