RBC Bearings Incorporated $RBC Shares Acquired by EULAV Asset Management

EULAV Asset Management increased its stake in RBC Bearings Incorporated (NYSE:RBC) by 15.9% during the 4th quarter, Holdings Channel.com reports. The fund owned 91,100 shares of the industrial products company’s stock after buying an additional 12,500 shares during the period. RBC Bearings accounts for approximately 1.1% of EULAV Asset Management’s portfolio, making the stock its 28th largest position. EULAV Asset Management’s holdings in RBC Bearings were worth $40,852,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Vise Technologies Inc. acquired a new stake in shares of RBC Bearings in the fourth quarter worth approximately $241,000. Lido Advisors LLC boosted its position in shares of RBC Bearings by 3.5% in the fourth quarter. Lido Advisors LLC now owns 647 shares of the industrial products company’s stock worth $278,000 after acquiring an additional 22 shares during the last quarter. CIBC Asset Management Inc boosted its position in shares of RBC Bearings by 6.4% in the fourth quarter. CIBC Asset Management Inc now owns 987 shares of the industrial products company’s stock worth $443,000 after acquiring an additional 59 shares during the last quarter. Rice Partnership LLC acquired a new stake in shares of RBC Bearings in the fourth quarter worth approximately $206,000. Finally, Rothschild Wealth LLC acquired a new stake in shares of RBC Bearings in the fourth quarter worth approximately $227,000.

RBC Bearings Stock Performance

Shares of NYSE:RBC opened at $591.56 on Friday. The firm has a market capitalization of $18.72 billion, a PE ratio of 65.08, a P/E/G ratio of 3.41 and a beta of 1.42. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.18 and a quick ratio of 0.78. The business has a 50-day moving average of $580.62 and a two-hundred day moving average of $527.75. RBC Bearings Incorporated has a 12 month low of $363.05 and a 12 month high of $632.00.

RBC Bearings (NYSE:RBC) last announced its quarterly earnings results on Friday, May 15th. The industrial products company reported $3.62 EPS for the quarter, topping the consensus estimate of $3.31 by $0.31. RBC Bearings had a return on equity of 11.35% and a net margin of 15.37%.The company had revenue of $518.00 million during the quarter, compared to analyst estimates of $505.90 million. During the same period in the prior year, the firm posted $2.83 earnings per share. The firm’s revenue was up 18.3% on a year-over-year basis. As a group, research analysts forecast that RBC Bearings Incorporated will post 13.58 earnings per share for the current year.

Insider Buying and Selling

In other RBC Bearings news, Director Edward Stewart sold 600 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $592.83, for a total value of $355,698.00. Following the completion of the transaction, the director owned 21,337 shares in the company, valued at $12,649,213.71. This represents a 2.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

RBC has been the subject of several research analyst reports. The Goldman Sachs Group restated a “neutral” rating and set a $542.00 price target on shares of RBC Bearings in a research note on Monday, February 9th. KeyCorp upped their price target on RBC Bearings from $595.00 to $680.00 and gave the stock an “overweight” rating in a research note on Monday, March 2nd. Truist Financial restated a “buy” rating and set a $615.00 price target (up from $599.00) on shares of RBC Bearings in a research note on Tuesday, May 19th. Weiss Ratings upgraded RBC Bearings from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, May 19th. Finally, Morgan Stanley upped their price target on RBC Bearings from $600.00 to $640.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 19th. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, RBC Bearings has a consensus rating of “Moderate Buy” and a consensus target price of $584.00.

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.