Coldstream Capital Management Inc. Takes $356,000 Position in RBC Bearings Incorporated (NYSE:RBC)

Coldstream Capital Management Inc. bought a new stake in shares of RBC Bearings Incorporated (NYSE:RBCFree Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,249 shares of the industrial products company’s stock, valued at approximately $356,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. PNC Financial Services Group Inc. boosted its stake in RBC Bearings by 0.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,778 shares of the industrial products company’s stock worth $1,646,000 after purchasing an additional 50 shares during the period. Fifth Third Bancorp boosted its stake in RBC Bearings by 13.2% in the 4th quarter. Fifth Third Bancorp now owns 479 shares of the industrial products company’s stock worth $136,000 after purchasing an additional 56 shares during the period. Bleakley Financial Group LLC boosted its stake in RBC Bearings by 2.1% in the 4th quarter. Bleakley Financial Group LLC now owns 3,197 shares of the industrial products company’s stock worth $911,000 after purchasing an additional 66 shares during the period. Torray Investment Partners LLC boosted its stake in RBC Bearings by 0.9% in the 4th quarter. Torray Investment Partners LLC now owns 7,446 shares of the industrial products company’s stock worth $2,121,000 after purchasing an additional 69 shares during the period. Finally, Treasurer of the State of North Carolina boosted its stake in RBC Bearings by 0.6% in the 3rd quarter. Treasurer of the State of North Carolina now owns 12,420 shares of the industrial products company’s stock worth $2,908,000 after purchasing an additional 70 shares during the period.

RBC Bearings Trading Down 0.5 %

RBC Bearings stock traded down $1.33 during trading hours on Friday, reaching $291.52. The company had a trading volume of 166,293 shares, compared to its average volume of 190,639. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.28 and a quick ratio of 1.12. The company has a 50-day moving average price of $263.41 and a 200 day moving average price of $264.55. The firm has a market cap of $8.43 billion, a price-to-earnings ratio of 45.57, a P/E/G ratio of 3.58 and a beta of 1.46. RBC Bearings Incorporated has a 12-month low of $195.18 and a 12-month high of $298.49.

RBC Bearings (NYSE:RBCGet Free Report) last posted its earnings results on Friday, May 17th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.25 by $0.22. RBC Bearings had a return on equity of 9.81% and a net margin of 13.45%. The firm had revenue of $413.70 million for the quarter, compared to analysts’ expectations of $414.21 million. During the same period in the previous year, the firm earned $2.06 earnings per share. The business’s revenue was up 4.9% compared to the same quarter last year. Equities analysts forecast that RBC Bearings Incorporated will post 8.95 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Truist Financial raised their target price on RBC Bearings from $309.00 to $328.00 and gave the stock a “buy” rating in a research note on Tuesday. The Goldman Sachs Group lifted their price target on RBC Bearings from $245.00 to $276.00 and gave the company a “neutral” rating in a research report on Tuesday. Morgan Stanley lifted their price target on RBC Bearings from $310.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Citigroup lifted their price target on RBC Bearings from $250.00 to $285.00 and gave the company a “neutral” rating in a research report on Monday, February 12th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $286.57.

Check Out Our Latest Analysis on RBC Bearings

RBC Bearings Profile

(Free Report)

RBC Bearings Incorporated manufactures and markets engineered precision bearings, components, and systems in the United States and internationally. It operates through two segments, Aerospace/Defense and Industrial. The company produces plain bearings with self-lubricating or metal-to-metal designs, including rod end bearings, spherical plain bearings, and journal bearings; roller bearings, such as tapered roller bearings, needle roller bearings, and needle bearing track rollers and cam followers, which are anti-friction products that are used in industrial applications and military aircraft platforms; and ball bearings include high precision aerospace, airframe control, thin section, and industrial ball bearings that utilize high precision ball elements to reduce friction in high-speed applications.

See Also

Want to see what other hedge funds are holding RBC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for RBC Bearings Incorporated (NYSE:RBCFree Report).

Institutional Ownership by Quarter for RBC Bearings (NYSE:RBC)

Receive News & Ratings for RBC Bearings Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RBC Bearings and related companies with MarketBeat.com's FREE daily email newsletter.