Wendell David Associates Inc. Decreases Stake in RBC Bearings Incorporated (NYSE:RBC)

Wendell David Associates Inc. reduced its position in shares of RBC Bearings Incorporated (NYSE:RBC) by 3.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,290 shares of the industrial products company’s stock after selling 50 shares during the quarter. Wendell David Associates Inc.’s holdings in RBC Bearings were worth $386,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. UMB Bank n.a. lifted its holdings in 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 buying an additional 75 shares during the period. Canada Pension Plan Investment Board purchased a new stake in RBC Bearings in the second quarter worth $54,000. Harbor Investment Advisory LLC bought a new stake in RBC Bearings in the fourth quarter valued at $82,000. Blue Trust Inc. increased its position in RBC Bearings by 541.9% during the 3rd quarter. Blue Trust Inc. now owns 276 shares of the industrial products company’s stock valued at $83,000 after purchasing an additional 233 shares during the period. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in RBC Bearings by 80.1% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 290 shares of the industrial products company’s stock worth $78,000 after purchasing an additional 129 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on RBC. Bank of America lowered shares of RBC Bearings from a “buy” rating to a “neutral” rating and lifted their target price for the company from $330.00 to $335.00 in a research note on Thursday, November 21st. KeyCorp upgraded RBC Bearings from a “sector weight” rating to an “overweight” rating and set a $375.00 target price on the stock in a report on Friday, November 22nd. Truist Financial increased their target price on RBC Bearings from $347.00 to $351.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Finally, William Blair restated an “outperform” rating on shares of RBC Bearings in a research report on Tuesday, November 26th. 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 currently has a consensus rating of “Moderate Buy” and an average target price of $325.33.

RBC Bearings Stock Down 0.3 %

Shares of NYSE:RBC opened at $322.57 on Thursday. The company has a current ratio of 3.48, a quick ratio of 1.28 and a debt-to-equity ratio of 0.38. The stock has a fifty day simple moving average of $317.21 and a two-hundred day simple moving average of $299.69. RBC Bearings Incorporated has a 12-month low of $240.36 and a 12-month high of $346.77. The stock has a market capitalization of $10.13 billion, a price-to-earnings ratio of 47.09, a PEG ratio of 4.46 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 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 for the quarter was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.07 EPS. On average, research analysts anticipate that RBC Bearings Incorporated will post 8.91 earnings per share for the current fiscal 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.