RBC Bearings Incorporated $RBC Stock Holdings Increased by Krane Funds Advisors LLC

Krane Funds Advisors LLC increased its stake in shares of RBC Bearings Incorporated (NYSE:RBC) by 543.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,133 shares of the industrial products company’s stock after purchasing an additional 3,491 shares during the quarter. Krane Funds Advisors LLC’s holdings in RBC Bearings were worth $1,531,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the stock. Artisan Partners Limited Partnership purchased a new stake in RBC Bearings in the 2nd quarter worth approximately $157,190,000. Norges Bank purchased a new stake in shares of RBC Bearings during the second quarter worth $137,078,000. Frontier Capital Management Co. LLC purchased a new stake in shares of RBC Bearings during the second quarter worth $39,818,000. Greenhouse Funds LLLP boosted its position in RBC Bearings by 28.0% during the second quarter. Greenhouse Funds LLLP now owns 227,434 shares of the industrial products company’s stock valued at $87,517,000 after purchasing an additional 49,773 shares during the last quarter. Finally, Jennison Associates LLC grew its stake in RBC Bearings by 101.1% in the second quarter. Jennison Associates LLC now owns 96,742 shares of the industrial products company’s stock valued at $37,226,000 after purchasing an additional 48,628 shares in the last quarter.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Truist Financial upped their target price on RBC Bearings from $542.00 to $599.00 and gave the stock a “buy” rating in a research report on Friday, February 6th. Deutsche Bank Aktiengesellschaft set a $527.00 price objective on RBC Bearings and gave the stock a “buy” rating in a report on Wednesday, December 17th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $542.00 target price on shares of RBC Bearings in a research note on Monday, February 9th. Zacks Research raised shares of RBC Bearings from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 11th. Finally, Bank of America upgraded shares of RBC Bearings from a “neutral” rating to a “buy” rating and raised their price target for the company from $390.00 to $500.00 in a report on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $560.50.

RBC Bearings Stock Performance

Shares of RBC opened at $561.75 on Tuesday. The company has a market capitalization of $17.76 billion, a PE ratio of 66.09, a price-to-earnings-growth ratio of 3.15 and a beta of 1.52. 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 $564.70. The company’s fifty day moving average price is $498.25 and its 200 day moving average price is $438.57.

RBC Bearings (NYSE:RBC) last issued 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 company had revenue of $461.60 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the business posted $2.34 earnings per share. As a group, analysts expect that RBC Bearings Incorporated will post 9.16 earnings per share for the current 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.