RBC Bearings Incorporated $RBC Holdings Lessened by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC reduced its holdings in shares of RBC Bearings Incorporated (NYSE:RBC) by 4.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 113,047 shares of the industrial products company’s stock after selling 5,756 shares during the period. Douglas Lane & Associates LLC’s holdings in RBC Bearings were worth $56,436,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Maren Capital LLC boosted its stake in shares of RBC Bearings by 1.4% during the 4th quarter. Maren Capital LLC now owns 450,314 shares of the industrial products company’s stock worth $201,934,000 after acquiring an additional 6,373 shares during the last quarter. First Trust Advisors LP raised its holdings in RBC Bearings by 27.5% in the 1st quarter. First Trust Advisors LP now owns 409,700 shares of the industrial products company’s stock worth $222,516,000 after purchasing an additional 88,468 shares during the period. Franklin Resources Inc. lifted its position in RBC Bearings by 0.7% during the fourth quarter. Franklin Resources Inc. now owns 322,482 shares of the industrial products company’s stock valued at $144,611,000 after purchasing an additional 2,288 shares in the last quarter. Blair William & Co. IL grew its holdings in RBC Bearings by 4.4% during the fourth quarter. Blair William & Co. IL now owns 222,235 shares of the industrial products company’s stock valued at $99,657,000 after purchasing an additional 9,331 shares during the period. Finally, Gotham Asset Management LLC increased its position in RBC Bearings by 14.4% in the fourth quarter. Gotham Asset Management LLC now owns 117,141 shares of the industrial products company’s stock worth $52,530,000 after buying an additional 14,703 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on RBC. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $686.00 price objective on shares of RBC Bearings in a research note on Tuesday, August 4th. Weiss Ratings cut shares of RBC Bearings from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, August 27th. Truist Financial raised their price objective on shares of RBC Bearings from $615.00 to $646.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. Guggenheim assumed coverage on shares of RBC Bearings in a report on Monday, September 14th. They issued a “buy” rating and a $600.00 target price for the company. Finally, Royal Bank Of Canada set a $600.00 price target on RBC Bearings in a report on Monday, September 14th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $615.44.

RBC Bearings Price Performance

Shares of RBC Bearings stock traded up $16.66 during trading on Friday, reaching $507.65. 90,038 shares of the stock traded hands, compared to its average volume of 238,792. The business has a fifty day simple moving average of $514.21 and a two-hundred day simple moving average of $562.94. RBC Bearings Incorporated has a 52-week low of $364.50 and a 52-week high of $667.69. The company has a market capitalization of $16.07 billion, a price-to-earnings ratio of 50.17, a P/E/G ratio of 2.70 and a beta of 1.38. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.53 and a quick ratio of 0.98.

RBC Bearings (NYSE:RBC) last released its quarterly earnings results on Friday, July 31st. The industrial products company reported $3.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.42 by $0.46. The company had revenue of $519.50 million for the quarter, compared to the consensus estimate of $508.92 million. RBC Bearings had a net margin of 16.40% and a return on equity of 12.06%. RBC Bearings’s revenue was up 19.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.84 earnings per share. Sell-side analysts expect that RBC Bearings Incorporated will post 14.03 EPS for the current year.

RBC Bearings Profile

RBC Bearings Incorporated designs and manufactures highly engineered bearings and related components for demanding aerospace, defense and industrial applications. Its products are used in systems that require precision, reliability and resistance to extreme operating conditions.

The company’s product portfolio includes plain bearings, roller bearings, ball bearings, rod ends, spherical bearings, precision components and other motion-control products. These products support applications such as aircraft structures and flight controls, aircraft engines, landing systems, space systems, military equipment, construction machinery, energy equipment and other industrial systems.

Founded in 1919, RBC Bearings serves original equipment manufacturers and aftermarket customers through operations and sales channels in North America, Europe and Asia.