RBC Bearings Incorporated $RBC Shares Purchased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC boosted its stake in RBC Bearings Incorporated (NYSE:RBC) by 263.5% in the 4th quarter, Holdings Channel reports. The firm owned 3,737 shares of the industrial products company’s stock after purchasing an additional 2,709 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in RBC Bearings were worth $1,788,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RBC. Advisors Asset Management Inc. acquired a new position in RBC Bearings during the first quarter worth $26,000. AQR Capital Management LLC grew its stake in shares of RBC Bearings by 27.8% in the first quarter. AQR Capital Management LLC now owns 1,297 shares of the industrial products company’s stock valued at $417,000 after buying an additional 282 shares in the last quarter. Integrated Wealth Concepts LLC grew its stake in shares of RBC Bearings by 32.7% in the first quarter. Integrated Wealth Concepts LLC now owns 1,229 shares of the industrial products company’s stock valued at $395,000 after buying an additional 303 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in shares of RBC Bearings by 64.1% in the 1st quarter. Jones Financial Companies Lllp now owns 1,111 shares of the industrial products company’s stock valued at $357,000 after buying an additional 434 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in shares of RBC Bearings by 2.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 211,744 shares of the industrial products company’s stock valued at $68,133,000 after buying an additional 4,253 shares during the period.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Truist Financial raised their target price on RBC Bearings from $542.00 to $599.00 and gave the company a “buy” rating in a 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 note on Monday, February 9th. Weiss Ratings reissued a “buy (b-)” rating on shares of RBC Bearings in a research report on Monday, December 22nd. Deutsche Bank Aktiengesellschaft set a $527.00 price objective on shares of RBC Bearings and gave the company a “buy” rating in a research note on Wednesday, December 17th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $600.00 target price on shares of RBC Bearings in a research note on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $574.67.

RBC Bearings Trading Up 0.0%

NYSE:RBC opened at $548.32 on Friday. RBC Bearings Incorporated has a 12-month low of $297.28 and a 12-month high of $589.16. The firm has a market cap of $17.34 billion, a PE ratio of 64.51, a price-to-earnings-growth ratio of 2.64 and a beta of 1.49. 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 fifty day moving average price of $545.47 and a 200 day moving average price of $470.46.

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 the consensus estimate of $2.83 by $0.21. The company had revenue of $461.60 million for the quarter, compared to the consensus estimate of $460.69 million. RBC Bearings had a return on equity of 10.86% and a net margin of 15.00%.RBC Bearings’s revenue was up 17.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.34 EPS. Sell-side analysts anticipate that RBC Bearings Incorporated will post 9.16 earnings per share for the current fiscal year.

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.