Vanguard Group Inc. Cuts Stock Holdings in RBC Bearings Incorporated $RBC

Vanguard Group Inc. lowered its stake in RBC Bearings Incorporated (NYSE:RBC) by 0.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,930,829 shares of the industrial products company’s stock after selling 15,752 shares during the period. Vanguard Group Inc. owned approximately 9.27% of RBC Bearings worth $1,143,873,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Advisors Asset Management Inc. purchased a new position in RBC Bearings in the 1st quarter worth approximately $26,000. Root Financial Partners LLC bought a new position in shares of RBC Bearings in the third quarter worth approximately $36,000. Hantz Financial Services Inc. increased its stake in shares of RBC Bearings by 1,257.1% in the second quarter. Hantz Financial Services Inc. now owns 95 shares of the industrial products company’s stock worth $37,000 after buying an additional 88 shares during the period. EverSource Wealth Advisors LLC raised its holdings in RBC Bearings by 123.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 96 shares of the industrial products company’s stock valued at $37,000 after buying an additional 53 shares during the last quarter. Finally, Quent Capital LLC bought a new stake in RBC Bearings during the 3rd quarter valued at $38,000.

RBC Bearings Stock Performance

Shares of RBC opened at $559.41 on Friday. The company has a 50-day simple moving average of $496.27 and a two-hundred day simple moving average of $437.23. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.86 and a quick ratio of 0.67. The firm has a market capitalization of $17.69 billion, a PE ratio of 65.81, a price-to-earnings-growth ratio of 3.15 and a beta of 1.52. RBC Bearings Incorporated has a one year low of $297.28 and a one year high of $564.70.

RBC Bearings (NYSE:RBC) last announced its earnings results on Thursday, February 5th. The industrial products company reported $3.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.83 by $0.21. RBC Bearings had a return on equity of 10.86% and a net margin of 15.00%.The firm had revenue of $461.60 million during the quarter, compared to analyst estimates of $460.69 million. During the same quarter in the prior year, the company earned $2.34 EPS. The business’s revenue was up 17.0% compared to the same quarter last year. On average, analysts anticipate that RBC Bearings Incorporated will post 9.16 EPS for the current fiscal year.

Analyst Ratings Changes

RBC has been the topic of a number of analyst reports. Morgan Stanley restated an “overweight” rating and issued a $600.00 price objective on shares of RBC Bearings in a research report on Friday, February 6th. The Goldman Sachs Group reissued a “neutral” rating and issued a $542.00 target price on shares of RBC Bearings in a research note on Monday, February 9th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of RBC Bearings in a research report on Monday, December 22nd. Zacks Research upgraded RBC Bearings from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 11th. Finally, Deutsche Bank Aktiengesellschaft set a $527.00 target price on RBC Bearings and gave the company a “buy” rating in a research note on Wednesday, December 17th. One research 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $560.50.

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.