Diversify Wealth Management LLC Has $681,000 Holdings in RBC Bearings Incorporated (NYSE:RBC)

Diversify Wealth Management LLC trimmed its stake in shares of RBC Bearings Incorporated (NYSE:RBC) by 5.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 2,315 shares of the industrial products company’s stock after selling 138 shares during the period. Diversify Wealth Management LLC’s holdings in RBC Bearings were worth $681,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of RBC. UMB Bank n.a. lifted its holdings in RBC Bearings by 416.7% during the 3rd quarter. UMB Bank n.a. now owns 93 shares of the industrial products company’s stock worth $28,000 after buying an additional 75 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of RBC Bearings during the second quarter valued at $54,000. Benjamin F. Edwards & Company Inc. boosted its holdings in RBC Bearings by 80.1% in 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 last quarter. Blue Trust Inc. increased its position in RBC Bearings by 541.9% in the third quarter. Blue Trust Inc. now owns 276 shares of the industrial products company’s stock worth $83,000 after purchasing an additional 233 shares during the period. Finally, Quarry LP raised its holdings in RBC Bearings by 1,003.7% during the 3rd quarter. Quarry LP now owns 298 shares of the industrial products company’s stock worth $89,000 after purchasing an additional 271 shares during the last quarter.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Truist Financial raised their target price on shares of RBC Bearings from $347.00 to $351.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Bank of America lowered shares of 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 report on Thursday, November 21st. William Blair reissued an “outperform” rating on shares of RBC Bearings in a research note on Tuesday, November 26th. 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 research note on Friday, November 22nd. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, RBC Bearings has an average rating of “Moderate Buy” and a consensus price target of $325.33.

RBC Bearings Trading Up 3.8 %

Shares of NYSE RBC opened at $323.98 on Wednesday. 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 Incorporated has a twelve month low of $240.36 and a twelve month high of $346.77. The company’s fifty day moving average is $317.07 and its 200-day moving average is $299.53. The stock has a market cap of $10.18 billion, a price-to-earnings ratio of 47.30, a P/E/G ratio of 4.30 and a beta of 1.57.

RBC Bearings (NYSE:RBC) last announced its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $403.89 million. RBC Bearings had a return on equity of 9.88% and a net margin of 14.06%. The firm’s revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the company earned $2.07 earnings per share. Equities research analysts predict that RBC Bearings Incorporated will post 8.91 EPS for the current year.

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.