RBC Bearings Incorporated (NYSE:RBC) Shares Sold by Avior Wealth Management LLC

Avior Wealth Management LLC lessened its stake in shares of RBC Bearings Incorporated (NYSE:RBC) by 7.4% during the fourth quarter, HoldingsChannel reports. The firm owned 3,935 shares of the industrial products company’s stock after selling 313 shares during the period. Avior Wealth Management LLC’s holdings in RBC Bearings were worth $1,177,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of RBC. Hsbc Holdings PLC purchased a new stake in shares of RBC Bearings during the second quarter worth about $607,000. Benjamin F. Edwards & Company Inc. increased its position in shares of RBC Bearings by 80.1% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 290 shares of the industrial products company’s stock worth $78,000 after acquiring an additional 129 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of RBC Bearings during the second quarter worth about $54,000. Marshall Wace LLP purchased a new stake in shares of RBC Bearings during the second quarter worth about $244,000. Finally, Cubist Systematic Strategies LLC increased its position in shares of RBC Bearings by 219.9% during the second quarter. Cubist Systematic Strategies LLC now owns 5,755 shares of the industrial products company’s stock worth $1,553,000 after acquiring an additional 3,956 shares during the last quarter.

RBC Bearings Stock Down 0.4 %

NYSE:RBC opened at $314.21 on Friday. The firm has a market capitalization of $9.87 billion, a PE ratio of 45.87, a price-to-earnings-growth ratio of 4.45 and a beta of 1.57. The stock has a 50 day moving average of $317.28 and a 200-day moving average of $300.06. RBC Bearings Incorporated has a 52 week low of $240.36 and a 52 week high of $346.77. The company has a current ratio of 3.48, a quick ratio of 1.28 and a debt-to-equity ratio of 0.38.

RBC Bearings (NYSE:RBC) last issued its quarterly earnings data on Friday, November 1st. The industrial products company reported $2.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.01). The business had revenue of $397.90 million for the quarter, compared to analyst estimates of $403.89 million. RBC Bearings had a return on equity of 9.88% and a net margin of 14.06%. The business’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.07 earnings per share. Analysts predict that RBC Bearings Incorporated will post 8.91 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on RBC. Bank of America lowered RBC Bearings from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $330.00 to $335.00 in a research report on Thursday, November 21st. William Blair reissued an “outperform” rating on shares of RBC Bearings in a report on Tuesday, November 26th. Truist Financial boosted their price objective on RBC Bearings from $347.00 to $351.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Finally, KeyCorp raised RBC Bearings from a “sector weight” rating to an “overweight” rating and set a $375.00 price objective for the company in a report on Friday, November 22nd. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $325.33.

RBC Bearings Profile

RBC Bearings Incorporated manufactures and markets engineered precision bearings, components, and systems in the United States and internationally. It operates through two segments, Aerospace/Defense and Industrial. The company produces plain bearings with self-lubricating or metal-to-metal designs, including rod end bearings, spherical plain bearings, and journal bearings; roller bearings, such as tapered roller bearings, needle roller bearings, and needle bearing track rollers and cam followers, which are anti-friction products that are used in industrial applications and military aircraft platforms; and ball bearings include high precision aerospace, airframe control, thin section, and industrial ball bearings that utilize high precision ball elements to reduce friction in high-speed applications.