Blair William & Co. IL Buys 3,111 Shares of RBC Bearings Incorporated $RBC

Blair William & Co. IL raised its stake in RBC Bearings Incorporated (NYSE:RBC) by 1.5% in the 3rd quarter, Holdings Channel.com reports. The fund owned 212,904 shares of the industrial products company’s stock after buying an additional 3,111 shares during the quarter. Blair William & Co. IL’s holdings in RBC Bearings were worth $83,094,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Assetmark Inc. grew its holdings in shares of RBC Bearings by 4.6% during the 3rd quarter. Assetmark Inc. now owns 563 shares of the industrial products company’s stock worth $220,000 after purchasing an additional 25 shares in the last quarter. Jones Financial Companies Lllp raised its stake in RBC Bearings by 2.7% in the third quarter. Jones Financial Companies Lllp now owns 994 shares of the industrial products company’s stock valued at $383,000 after purchasing an additional 26 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in RBC Bearings by 27.1% in the third quarter. EverSource Wealth Advisors LLC now owns 122 shares of the industrial products company’s stock valued at $48,000 after purchasing an additional 26 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its position in RBC Bearings by 0.3% during the third quarter. State of New Jersey Common Pension Fund D now owns 10,070 shares of the industrial products company’s stock worth $3,930,000 after purchasing an additional 27 shares during the period. Finally, Brown Advisory Inc. grew its stake in RBC Bearings by 4.7% during the second quarter. Brown Advisory Inc. now owns 685 shares of the industrial products company’s stock worth $264,000 after buying an additional 31 shares in the last quarter.

RBC Bearings Stock Down 2.3%

NYSE:RBC opened at $553.13 on Friday. The firm’s 50 day simple moving average is $519.14 and its 200 day simple moving average is $448.61. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.86 and a quick ratio of 0.67. RBC Bearings Incorporated has a one year low of $297.28 and a one year high of $589.16. The company has a market cap of $17.49 billion, a PE ratio of 65.07, a P/E/G ratio of 3.19 and a beta of 1.47.

RBC Bearings (NYSE:RBC) last announced 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 firm had revenue of $461.60 million during the quarter, compared to analysts’ expectations of $460.69 million. RBC Bearings had a net margin of 15.00% and a return on equity of 10.86%. The company’s revenue was up 17.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.34 EPS. On average, research analysts anticipate that RBC Bearings Incorporated will post 9.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on RBC. KeyCorp raised their target price on shares of RBC Bearings from $595.00 to $680.00 and gave the company an “overweight” rating in a report on Monday, March 2nd. Wall Street Zen raised RBC Bearings from a “hold” rating to a “buy” rating in a report on Saturday, February 28th. Deutsche Bank Aktiengesellschaft set a $527.00 price objective on RBC Bearings and gave the company a “buy” rating in a research note on Wednesday, December 17th. Truist Financial increased their target price on shares of RBC Bearings from $542.00 to $599.00 and gave the stock a “buy” rating in a report on Friday, February 6th. Finally, Morgan Stanley restated an “overweight” rating and issued a $600.00 price target on shares of RBC Bearings in a research note on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $574.67.

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.