Diversify Wealth Management LLC Sells 138 Shares of RBC Bearings Incorporated (NYSE:RBC)

Diversify Wealth Management LLC lowered its holdings in RBC Bearings Incorporated (NYSE:RBC) by 5.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,315 shares of the industrial products company’s stock after selling 138 shares during the quarter. Diversify Wealth Management LLC’s holdings in RBC Bearings were worth $681,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Jane Street Group LLC grew its stake in shares of RBC Bearings by 18.5% in the third quarter. Jane Street Group LLC now owns 16,536 shares of the industrial products company’s stock worth $4,951,000 after acquiring an additional 2,584 shares during the last quarter. Segall Bryant & Hamill LLC grew its position in RBC Bearings by 41.6% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 29,715 shares of the industrial products company’s stock worth $8,896,000 after purchasing an additional 8,725 shares during the last quarter. TimesSquare Capital Management LLC increased its holdings in shares of RBC Bearings by 17.3% during the 3rd quarter. TimesSquare Capital Management LLC now owns 90,605 shares of the industrial products company’s stock worth $27,125,000 after purchasing an additional 13,395 shares during the period. Holocene Advisors LP raised its position in shares of RBC Bearings by 69.4% during the third quarter. Holocene Advisors LP now owns 12,396 shares of the industrial products company’s stock valued at $3,711,000 after buying an additional 5,078 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of RBC Bearings by 2.4% in the third quarter. State Street Corp now owns 845,175 shares of the industrial products company’s stock valued at $253,028,000 after buying an additional 19,962 shares during the period.

RBC Bearings Stock Up 3.8 %

RBC opened at $323.98 on Wednesday. The firm has a market cap of $10.18 billion, a price-to-earnings ratio of 47.30, a PEG ratio of 4.30 and a beta of 1.57. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.28 and a current ratio of 3.48. The firm’s 50-day simple moving average is $317.07 and its 200-day simple moving average is $299.53. RBC Bearings Incorporated has a twelve month low of $240.36 and a twelve month high of $346.77.

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

Analyst Ratings Changes

Several research firms have commented on RBC. KeyCorp raised RBC Bearings from a “sector weight” rating to an “overweight” rating and set a $375.00 price target for the company in a report on Friday, November 22nd. 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 research report on Thursday, November 21st. Truist Financial boosted their price target on shares of RBC Bearings from $347.00 to $351.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Finally, William Blair reaffirmed 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 assigned a buy rating to the stock. Based on data from MarketBeat, RBC Bearings has an average rating of “Moderate Buy” and an average target price 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.