Wendell David Associates Inc. Sells 50 Shares of RBC Bearings Incorporated (NYSE:RBC)

Wendell David Associates Inc. decreased its holdings in RBC Bearings Incorporated (NYSE:RBC) by 3.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,290 shares of the industrial products company’s stock after selling 50 shares during the period. Wendell David Associates Inc.’s holdings in RBC Bearings were worth $386,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in RBC. Harbor Investment Advisory LLC purchased a new position in shares of RBC Bearings in the 4th quarter worth $82,000. UMB Bank n.a. boosted its position in RBC Bearings by 84.9% in the fourth quarter. UMB Bank n.a. now owns 172 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 79 shares during the last quarter. Argent Capital Management LLC grew its stake in shares of RBC Bearings by 33.0% during the 4th quarter. Argent Capital Management LLC now owns 4,521 shares of the industrial products company’s stock valued at $1,352,000 after purchasing an additional 1,123 shares during the period. Park Avenue Securities LLC increased its position in shares of RBC Bearings by 33.6% during the 4th quarter. Park Avenue Securities LLC now owns 1,755 shares of the industrial products company’s stock valued at $525,000 after purchasing an additional 441 shares during the last quarter. Finally, Oak Thistle LLC lifted its stake in shares of RBC Bearings by 21.9% in the 4th quarter. Oak Thistle LLC now owns 3,003 shares of the industrial products company’s stock worth $898,000 after purchasing an additional 540 shares during the period.

RBC Bearings Stock Down 0.3 %

Shares of RBC stock opened at $322.57 on Thursday. The company has a quick ratio of 1.28, a current ratio of 3.48 and a debt-to-equity ratio of 0.38. The stock has a market cap of $10.13 billion, a P/E ratio of 47.09, a PEG ratio of 4.46 and a beta of 1.57. RBC Bearings Incorporated has a 52 week low of $240.36 and a 52 week high of $346.77. The company’s fifty day simple moving average is $317.21 and its two-hundred day simple moving average is $299.69.

RBC Bearings (NYSE:RBC) last released its quarterly earnings data on Friday, November 1st. The industrial products company reported $2.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.01). The firm 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 business’s revenue was up 3.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.07 EPS. Analysts predict that RBC Bearings Incorporated will post 8.91 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

RBC has been the subject of a number of research reports. William Blair reaffirmed an “outperform” rating on shares of RBC Bearings in a report on Tuesday, November 26th. Truist Financial boosted their price objective on shares of RBC Bearings from $347.00 to $351.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Bank of America cut RBC Bearings from a “buy” rating to a “neutral” rating and raised their target price for the stock from $330.00 to $335.00 in a report on Thursday, November 21st. Finally, KeyCorp upgraded 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 research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $325.33.

RBC Bearings Company 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.