Franklin Resources Inc. Has $144.61 Million Stock Holdings in RBC Bearings Incorporated $RBC

Franklin Resources Inc. raised its position in RBC Bearings Incorporated (NYSE:RBC) by 0.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 322,482 shares of the industrial products company’s stock after purchasing an additional 2,288 shares during the period. Franklin Resources Inc.’s holdings in RBC Bearings were worth $144,611,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC grew its holdings in shares of RBC Bearings by 7.8% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 3,052 shares of the industrial products company’s stock worth $1,369,000 after purchasing an additional 221 shares in the last quarter. Krane Funds Advisors LLC grew its holdings in shares of RBC Bearings by 7.1% during the 4th quarter. Krane Funds Advisors LLC now owns 4,425 shares of the industrial products company’s stock worth $1,984,000 after purchasing an additional 292 shares in the last quarter. Palladiem LLC acquired a new stake in shares of RBC Bearings during the 4th quarter worth $322,000. Cookson Peirce & Co. Inc. grew its holdings in shares of RBC Bearings by 4.5% during the 4th quarter. Cookson Peirce & Co. Inc. now owns 2,666 shares of the industrial products company’s stock worth $1,196,000 after purchasing an additional 114 shares in the last quarter. Finally, EULAV Asset Management grew its holdings in shares of RBC Bearings by 15.9% during the 4th quarter. EULAV Asset Management now owns 91,100 shares of the industrial products company’s stock worth $40,852,000 after purchasing an additional 12,500 shares in the last quarter.

RBC Bearings Price Performance

Shares of RBC stock opened at $578.59 on Thursday. The company has a quick ratio of 0.78, a current ratio of 2.18 and a debt-to-equity ratio of 0.21. RBC Bearings Incorporated has a twelve month low of $363.05 and a twelve month high of $632.00. The company has a market cap of $18.31 billion, a P/E ratio of 63.65, a P/E/G ratio of 3.42 and a beta of 1.42. The business has a fifty day simple moving average of $583.76 and a 200 day simple moving average of $531.84.

RBC Bearings (NYSE:RBC) last announced 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 business had revenue of $518.00 million during the quarter, compared to the consensus estimate of $505.90 million. During the same period in the prior year, the company earned $2.83 EPS. RBC Bearings’s revenue for the quarter was up 18.3% on a year-over-year basis. On average, sell-side analysts forecast that RBC Bearings Incorporated will post 13.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on RBC. Truist Financial reissued a “buy” rating and set a $615.00 target price (up from $599.00) on shares of RBC Bearings in a report on Tuesday, May 19th. Wall Street Zen raised RBC Bearings from a “hold” rating to a “buy” rating in a report on Saturday, June 6th. Zacks Research lowered RBC Bearings from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 3rd. KeyCorp raised their target price on RBC Bearings from $595.00 to $680.00 and gave the company an “overweight” rating in a report on Monday, March 2nd. Finally, Weiss Ratings upgraded RBC Bearings from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, May 19th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $584.00.

Insider Buying and Selling at RBC Bearings

In related news, Director Edward Stewart sold 600 shares of the company’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $592.83, for a total transaction of $355,698.00. Following the completion of the sale, the director directly owned 21,337 shares in the company, valued at $12,649,213.71. This represents a 2.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.90% of the stock is currently owned by corporate insiders.

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.