RBC Bearings Incorporated $RBC Holdings Lifted by Vestmark Advisory Solutions Inc.

Vestmark Advisory Solutions Inc. lifted its holdings in RBC Bearings Incorporated (NYSE:RBC) by 13.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,331 shares of the industrial products company’s stock after purchasing an additional 958 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in RBC Bearings were worth $3,252,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Artisan Partners Limited Partnership acquired a new stake in shares of RBC Bearings during the 2nd quarter valued at $157,190,000. Norges Bank bought a new stake in RBC Bearings in the second quarter worth $137,078,000. Frontier Capital Management Co. LLC bought a new stake in shares of RBC Bearings during the 2nd quarter worth about $39,818,000. Greenhouse Funds LLLP boosted its stake in RBC Bearings by 28.0% during the 2nd quarter. Greenhouse Funds LLLP now owns 227,434 shares of the industrial products company’s stock valued at $87,517,000 after purchasing an additional 49,773 shares during the period. Finally, Jennison Associates LLC increased its position in RBC Bearings by 101.1% in the 2nd quarter. Jennison Associates LLC now owns 96,742 shares of the industrial products company’s stock worth $37,226,000 after buying an additional 48,628 shares during the period.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on RBC. Morgan Stanley reissued an “overweight” rating and issued a $600.00 price target on shares of RBC Bearings in a research report on Friday, February 6th. KeyCorp upped their price objective on RBC Bearings from $535.00 to $595.00 and gave the company an “overweight” rating in a report on Friday, February 6th. Truist Financial lifted their price objective on RBC Bearings from $542.00 to $599.00 and gave the company a “buy” rating in a report on Friday, February 6th. Zacks Research raised RBC Bearings from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 11th. Finally, Deutsche Bank Aktiengesellschaft set a $527.00 target price on shares of 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 issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, RBC Bearings has a consensus rating of “Buy” and a consensus target price of $560.50.

RBC Bearings Stock Up 0.5%

RBC Bearings stock opened at $561.75 on Tuesday. The firm’s fifty day moving average is $498.25 and its 200 day moving average is $438.57. RBC Bearings Incorporated has a 12-month low of $297.28 and a 12-month high of $564.70. The company has a quick ratio of 0.67, a current ratio of 1.86 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $17.76 billion, a PE ratio of 66.09, a PEG ratio of 3.15 and a beta of 1.52.

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