RBC Bearings Incorporated $RBC Stock Position Lifted by Lombard Odier Asset Management USA Corp

Lombard Odier Asset Management USA Corp lifted its stake in shares of RBC Bearings Incorporated (NYSE:RBC) by 20.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,037 shares of the industrial products company’s stock after purchasing an additional 2,074 shares during the quarter. RBC Bearings comprises about 0.3% of Lombard Odier Asset Management USA Corp’s investment portfolio, making the stock its 24th largest holding. Lombard Odier Asset Management USA Corp’s holdings in RBC Bearings were worth $4,698,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. Advisors Asset Management Inc. acquired a new position in RBC Bearings during the 1st quarter valued at about $26,000. AQR Capital Management LLC lifted its stake in shares of RBC Bearings by 27.8% in the 1st quarter. AQR Capital Management LLC now owns 1,297 shares of the industrial products company’s stock worth $417,000 after acquiring an additional 282 shares during the period. Integrated Wealth Concepts LLC lifted its stake in shares of RBC Bearings by 32.7% in the 1st quarter. Integrated Wealth Concepts LLC now owns 1,229 shares of the industrial products company’s stock worth $395,000 after acquiring an additional 303 shares during the period. Jones Financial Companies Lllp boosted its holdings in shares of RBC Bearings by 64.1% in the first quarter. Jones Financial Companies Lllp now owns 1,111 shares of the industrial products company’s stock valued at $357,000 after acquiring an additional 434 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of RBC Bearings by 2.0% in the first quarter. Goldman Sachs Group Inc. now owns 211,744 shares of the industrial products company’s stock valued at $68,133,000 after acquiring an additional 4,253 shares in the last quarter.

RBC Bearings Trading Up 2.0%

Shares of NYSE RBC opened at $547.10 on Tuesday. The company has a quick ratio of 0.67, a current ratio of 1.86 and a debt-to-equity ratio of 0.22. RBC Bearings Incorporated has a 12 month low of $297.28 and a 12 month high of $589.16. The company has a market cap of $17.30 billion, a price-to-earnings ratio of 64.37, a P/E/G ratio of 3.01 and a beta of 1.47. The business has a fifty day simple moving average of $530.92 and a 200-day simple moving average of $455.89.

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

Analyst Upgrades and Downgrades

RBC has been the subject of a number of research analyst reports. Morgan Stanley restated an “overweight” rating and issued a $600.00 target price on shares of RBC Bearings in a research report on Friday, February 6th. The Goldman Sachs Group reiterated a “neutral” rating and set a $542.00 price target on shares of RBC Bearings in a research report on Monday, February 9th. Weiss Ratings restated a “buy (b-)” rating on shares of RBC Bearings in a report on Monday, December 22nd. Wall Street Zen cut RBC Bearings from a “buy” rating to a “hold” rating in a research note on Sunday, March 8th. Finally, KeyCorp lifted their target price on RBC Bearings from $595.00 to $680.00 and gave the stock an “overweight” rating in a report on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $574.67.

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.