Vanguard Group Inc. Sells 28,831 Shares of RBC Bearings Incorporated $RBC

Vanguard Group Inc. lowered its position in shares of RBC Bearings Incorporated (NYSE:RBC) by 1.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,901,998 shares of the industrial products company’s stock after selling 28,831 shares during the quarter. Vanguard Group Inc. owned 0.09% of RBC Bearings worth $1,301,343,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. Assetmark Inc. lifted its position in shares of RBC Bearings by 4.6% during the 3rd quarter. Assetmark Inc. now owns 563 shares of the industrial products company’s stock worth $220,000 after buying an additional 25 shares in the last quarter. Jones Financial Companies Lllp lifted its position in shares of RBC Bearings by 2.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 994 shares of the industrial products company’s stock worth $383,000 after buying an additional 26 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of RBC Bearings by 27.1% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 122 shares of the industrial products company’s stock worth $48,000 after buying an additional 26 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its position in shares of RBC Bearings by 0.3% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 10,070 shares of the industrial products company’s stock worth $3,930,000 after buying an additional 27 shares in the last quarter. Finally, Allworth Financial LP lifted its position in shares of RBC Bearings by 12.1% during the 3rd quarter. Allworth Financial LP now owns 259 shares of the industrial products company’s stock worth $101,000 after buying an additional 28 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research firms have commented on RBC. Morgan Stanley reissued an “overweight” rating and set a $600.00 target price on shares of RBC Bearings in a research report on Friday, February 6th. Truist Financial lifted their target price on shares of RBC Bearings from $542.00 to $599.00 and gave the stock a “buy” rating in a research report on Friday, February 6th. Wall Street Zen cut shares of RBC Bearings from a “buy” rating to a “hold” rating in a report on Sunday, April 12th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $542.00 price target on shares of RBC Bearings in a report on Monday, February 9th. Finally, Zacks Research raised shares of RBC Bearings from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 11th. One equities research 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 company. Based on data from MarketBeat, RBC Bearings presently has a consensus rating of “Buy” and an average price target of $574.67.

RBC Bearings Trading Up 2.6%

NYSE:RBC opened at $599.85 on Friday. The company has a current ratio of 1.86, a quick ratio of 0.67 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $18.97 billion, a PE ratio of 70.57, a price-to-earnings-growth ratio of 2.79 and a beta of 1.49. The firm’s 50 day moving average is $566.84 and its 200 day moving average is $497.78. RBC Bearings Incorporated has a 12 month low of $331.05 and a 12 month high of $607.45.

RBC Bearings (NYSE:RBC) last posted its quarterly earnings results on Thursday, February 5th. The industrial products company reported $3.04 EPS for the quarter, topping analysts’ consensus estimates of $2.83 by $0.21. RBC Bearings had a net margin of 15.00% and a return on equity of 10.86%. The company had revenue of $461.60 million for the quarter, compared to analysts’ expectations of $460.69 million. During the same quarter in the previous year, the firm posted $2.34 EPS. RBC Bearings’s revenue was up 17.0% on a year-over-year basis. Sell-side analysts expect that RBC Bearings Incorporated will post 11.65 earnings per share for the current year.

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.