Inceptionr LLC Invests $1.20 Million in RBC Bearings Incorporated $RBC

Inceptionr LLC purchased a new position in shares of RBC Bearings Incorporated (NYSE:RBC) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,675 shares of the industrial products company’s stock, valued at approximately $1,200,000.

Several other hedge funds and other institutional investors have also modified their holdings of RBC. Advisors Asset Management Inc. purchased a new position in shares of RBC Bearings during the first quarter worth $26,000. SBI Securities Co. Ltd. boosted its position in shares of RBC Bearings by 106.5% during the fourth quarter. SBI Securities Co. Ltd. now owns 64 shares of the industrial products company’s stock worth $29,000 after buying an additional 33 shares during the period. Larson Financial Group LLC boosted its position in shares of RBC Bearings by 148.5% during the third quarter. Larson Financial Group LLC now owns 82 shares of the industrial products company’s stock worth $32,000 after buying an additional 49 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of RBC Bearings during the fourth quarter worth $35,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in RBC Bearings by 123.3% in the second quarter. EverSource Wealth Advisors LLC now owns 96 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 53 shares during the period.

Analysts Set New Price Targets

RBC has been the subject of a number of recent research reports. KeyCorp lifted 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. Truist Financial reiterated a “buy” rating and issued a $615.00 target price (up from $599.00) on shares of RBC Bearings in a report on Tuesday, May 19th. Zacks Research lowered RBC Bearings from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 3rd. Wall Street Zen upgraded RBC Bearings from a “hold” rating to a “buy” rating in a report on Saturday, June 6th. Finally, Morgan Stanley lifted their target price on RBC Bearings from $600.00 to $640.00 and gave the company an “overweight” rating in a report on Tuesday, May 19th. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $584.00.

RBC Bearings Trading Down 2.3%

NYSE:RBC opened at $578.59 on Thursday. The firm has a market cap of $18.31 billion, a PE ratio of 63.65, a price-to-earnings-growth ratio of 3.42 and a beta of 1.42. 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 has a fifty day moving average price of $583.76 and a 200 day moving average price of $531.84. RBC Bearings Incorporated has a 12-month low of $363.05 and a 12-month high of $632.00.

RBC Bearings (NYSE:RBC) last announced its quarterly earnings results on Friday, May 15th. The industrial products company reported $3.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.31 by $0.31. The company had revenue of $518.00 million during the quarter, compared to the consensus estimate of $505.90 million. RBC Bearings had a return on equity of 11.35% and a net margin of 15.37%.RBC Bearings’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.83 EPS. Sell-side analysts anticipate that RBC Bearings Incorporated will post 13.58 earnings per share for the current fiscal year.

Insider Transactions at RBC Bearings

In other RBC Bearings news, Director Edward Stewart sold 600 shares of RBC Bearings stock in a transaction dated 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 of the company’s stock, valued at $12,649,213.71. The trade was a 2.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.90% of the stock is owned by company insiders.

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.