Oak Ridge Investments LLC Cuts Position in RBC Bearings Incorporated (NYSE:RBC)

Oak Ridge Investments LLC reduced its holdings in shares of RBC Bearings Incorporated (NYSE:RBC) by 3.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,279 shares of the industrial products company’s stock after selling 292 shares during the quarter. Oak Ridge Investments LLC’s holdings in RBC Bearings were worth $2,776,000 at the end of the most recent quarter.

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

RBC Bearings Trading Up 0.9 %

NYSE RBC opened at $312.19 on Friday. The company has a market capitalization of $9.81 billion, a price-to-earnings ratio of 45.58, a price-to-earnings-growth ratio of 4.04 and a beta of 1.57. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.48 and a quick ratio of 1.28. RBC Bearings Incorporated has a 12 month low of $240.36 and a 12 month high of $346.77. The company’s fifty day moving average price is $317.05 and its two-hundred day moving average price is $298.73.

RBC Bearings (NYSE:RBC) last issued its quarterly earnings results on Friday, November 1st. The industrial products company reported $2.29 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.01). The company had revenue of $397.90 million for 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 for the quarter was up 3.2% on a year-over-year basis. During the same period in the previous year, the business posted $2.07 EPS. As a group, research analysts predict that RBC Bearings Incorporated will post 8.94 earnings per share for the current fiscal year.

Analyst Ratings Changes

RBC has been the topic of several recent research reports. Bank of America cut RBC Bearings from a “buy” rating to a “neutral” rating and upped their price target for the stock from $330.00 to $335.00 in a report on Thursday, November 21st. Truist Financial boosted their target price on shares of RBC Bearings from $347.00 to $351.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. KeyCorp raised shares of RBC Bearings from a “sector weight” rating to an “overweight” rating and set a $375.00 price target on the stock in a research note on Friday, November 22nd. Finally, William Blair reissued an “outperform” rating on shares of RBC Bearings in a research report on Tuesday, November 26th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, RBC Bearings currently has a consensus rating of “Moderate Buy” and an average price target of $325.33.

About RBC Bearings

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.