RBC Bearings Incorporated (NYSE:RBC) Stock Position Decreased by Oak Ridge Investments LLC

Oak Ridge Investments LLC lowered its holdings in RBC Bearings Incorporated (NYSE:RBC) by 3.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,279 shares of the industrial products company’s stock after selling 292 shares during the period. Oak Ridge Investments LLC’s holdings in RBC Bearings were worth $2,776,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. UMB Bank n.a. lifted its holdings in shares of RBC Bearings by 416.7% in the 3rd quarter. UMB Bank n.a. now owns 93 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 75 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in RBC Bearings in the second quarter valued at $54,000. Benjamin F. Edwards & Company Inc. boosted its holdings 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 valued at $78,000 after acquiring an additional 129 shares during the period. Blue Trust Inc. grew its position in shares of RBC Bearings by 541.9% during the third quarter. Blue Trust Inc. now owns 276 shares of the industrial products company’s stock worth $83,000 after acquiring an additional 233 shares during the last quarter. Finally, Quarry LP increased its holdings in shares of RBC Bearings by 1,003.7% in the 3rd quarter. Quarry LP now owns 298 shares of the industrial products company’s stock worth $89,000 after acquiring an additional 271 shares during the period.

RBC Bearings Trading Up 0.9 %

Shares of RBC stock opened at $312.19 on Friday. The stock has a 50-day simple moving average of $317.05 and a 200 day simple moving average of $298.73. The stock has a market capitalization of $9.81 billion, a P/E ratio of 45.58, a P/E/G ratio of 4.04 and a beta of 1.57. RBC Bearings Incorporated has a fifty-two week low of $240.36 and a fifty-two week high of $346.77. The company has a quick ratio of 1.28, a current ratio of 3.48 and a debt-to-equity ratio of 0.38.

RBC Bearings (NYSE:RBC) last announced 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). RBC Bearings had a return on equity of 9.88% and a net margin of 14.06%. The business had revenue of $397.90 million during the quarter, compared to analyst estimates of $403.89 million. During the same period in the prior year, the firm earned $2.07 EPS. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, sell-side analysts expect that RBC Bearings Incorporated will post 8.94 earnings per share for the current fiscal year.

Analyst Ratings Changes

RBC has been the subject of several recent analyst reports. Bank of America cut shares of RBC Bearings from a “buy” rating to a “neutral” rating and upped their target price for the stock from $330.00 to $335.00 in a research report on Thursday, November 21st. 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. Truist Financial lifted their target price on RBC Bearings from $347.00 to $351.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Finally, William Blair reissued an “outperform” rating on shares of RBC Bearings in a report on Tuesday, November 26th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, RBC Bearings currently has a consensus rating of “Moderate Buy” and an average price target 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.