Wolverine Asset Management LLC Invests $538,000 in RBC Bearings Incorporated $RBC

Wolverine Asset Management LLC bought a new position in shares of RBC Bearings Incorporated (NYSE:RBC) during the 4th quarter, HoldingsChannel reports. The fund bought 1,200 shares of the industrial products company’s stock, valued at approximately $538,000.

Other large investors also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of RBC Bearings during the 4th quarter worth $35,000. Advisors Asset Management Inc. acquired a new stake in shares of RBC Bearings during the 1st quarter worth $26,000. Larson Financial Group LLC grew its holdings in shares of RBC Bearings by 148.5% during the 3rd quarter. Larson Financial Group LLC now owns 82 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 49 shares in the last quarter. Root Financial Partners LLC acquired a new stake in shares of RBC Bearings during the 3rd quarter worth $36,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of RBC Bearings by 123.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 96 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 53 shares in the last quarter.

RBC Bearings Stock Performance

NYSE:RBC opened at $622.20 on Thursday. The stock’s 50-day simple moving average is $569.02 and its 200 day simple moving average is $502.84. The firm has a market capitalization of $19.67 billion, a PE ratio of 73.20, a price-to-earnings-growth ratio of 2.90 and a beta of 1.47. 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 Incorporated has a twelve month low of $339.53 and a twelve month high of $631.88.

RBC Bearings (NYSE:RBC) last released its quarterly earnings data on Thursday, February 5th. The industrial products company reported $3.04 earnings per share for the quarter, beating the consensus estimate of $2.83 by $0.21. The business had revenue of $461.60 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the firm posted $2.34 earnings per share. On average, analysts anticipate that RBC Bearings Incorporated will post 11.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

RBC has been the topic of several analyst reports. Truist Financial raised RBC Bearings to a “strong-buy” rating in a report on Friday, May 1st. Wall Street Zen lowered RBC Bearings from a “buy” rating to a “hold” rating in a research note on Sunday, April 12th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $542.00 price objective on shares of RBC Bearings in a research note on Monday, February 9th. KeyCorp raised their price objective on RBC Bearings from $595.00 to $680.00 and gave the company an “overweight” rating in a research note on Monday, March 2nd. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $600.00 price objective on shares of RBC Bearings in a research note on Friday, February 6th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, RBC Bearings currently has a consensus rating of “Buy” and an average target price of $574.67.

About RBC Bearings

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.