Mountain Pacific Investment Advisers LLC Sells 1,037 Shares of RBC Bearings Incorporated $RBC

Mountain Pacific Investment Advisers LLC cut its position in RBC Bearings Incorporated (NYSE:RBC) by 5.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,433 shares of the industrial products company’s stock after selling 1,037 shares during the quarter. RBC Bearings comprises about 1.3% of Mountain Pacific Investment Advisers LLC’s holdings, making the stock its 23rd largest position. Mountain Pacific Investment Advisers LLC’s holdings in RBC Bearings were worth $8,266,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. State Street Corp raised its stake in shares of RBC Bearings by 0.5% in the third quarter. State Street Corp now owns 919,259 shares of the industrial products company’s stock valued at $358,778,000 after buying an additional 4,568 shares during the period. Artisan Partners Limited Partnership raised its stake in shares of RBC Bearings by 51.7% in the third quarter. Artisan Partners Limited Partnership now owns 619,592 shares of the industrial products company’s stock valued at $241,821,000 after buying an additional 211,093 shares during the period. Invesco Ltd. raised its stake in shares of RBC Bearings by 60.5% in the third quarter. Invesco Ltd. now owns 381,161 shares of the industrial products company’s stock valued at $148,763,000 after buying an additional 143,710 shares during the period. Port Capital LLC raised its stake in shares of RBC Bearings by 0.9% in the third quarter. Port Capital LLC now owns 367,848 shares of the industrial products company’s stock valued at $143,567,000 after buying an additional 3,300 shares during the period. Finally, First Trust Advisors LP raised its stake in shares of RBC Bearings by 36.4% in the third quarter. First Trust Advisors LP now owns 352,734 shares of the industrial products company’s stock valued at $137,669,000 after buying an additional 94,203 shares during the period.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on RBC shares. KeyCorp boosted their target price on RBC Bearings from $595.00 to $680.00 and gave the company an “overweight” rating in a research note on Monday, March 2nd. Wall Street Zen cut RBC Bearings from a “buy” rating to a “hold” rating in a research report on Sunday, April 12th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $542.00 price target on shares of RBC Bearings in a research report on Monday, February 9th. Morgan Stanley reiterated an “overweight” rating and issued a $600.00 price target on shares of RBC Bearings in a research report on Friday, February 6th. Finally, Truist Financial lifted 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. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, RBC Bearings has an average rating of “Buy” and an average price target of $574.67.

RBC Bearings Trading Down 1.9%

Shares of RBC opened at $589.89 on Friday. The business’s 50-day moving average price is $563.63 and its 200-day moving average price is $492.66. RBC Bearings Incorporated has a twelve month low of $319.88 and a twelve month high of $607.45. The stock has a market cap of $18.65 billion, a PE ratio of 69.40, a P/E/G ratio of 2.87 and a beta of 1.49. The company has a quick ratio of 0.67, a current ratio of 1.86 and a debt-to-equity ratio of 0.22.

RBC Bearings (NYSE:RBC) last posted its earnings results on Thursday, February 5th. The industrial products company reported $3.04 EPS for the quarter, topping the consensus estimate of $2.83 by $0.21. The business had revenue of $461.60 million during the quarter, compared to analysts’ expectations of $460.69 million. RBC Bearings had a return on equity of 10.86% and a net margin of 15.00%.The firm’s revenue was up 17.0% on a year-over-year basis. During the same period in the previous year, the business earned $2.34 earnings per share. On average, equities analysts forecast that RBC Bearings Incorporated will post 11.65 EPS 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.