RBC Bearings Incorporated (NYSE:RBC) Shares Sold by Sheets Smith Wealth Management

Sheets Smith Wealth Management trimmed its stake in shares of RBC Bearings Incorporated (NYSE:RBC) by 2.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,223 shares of the industrial products company’s stock after selling 148 shares during the period. Sheets Smith Wealth Management’s holdings in RBC Bearings were worth $1,562,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. UMB Bank n.a. boosted its position in RBC Bearings by 416.7% during the third quarter. UMB Bank n.a. now owns 93 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 75 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in RBC Bearings in the 2nd quarter valued at $54,000. Benjamin F. Edwards & Company Inc. increased 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 acquiring an additional 129 shares in the last quarter. Harbor Investment Advisory LLC acquired a new position in RBC Bearings during the fourth quarter worth $82,000. Finally, Blue Trust Inc. lifted its holdings in RBC Bearings by 541.9% during the third 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 in the last quarter.

Wall Street Analyst Weigh In

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

RBC Bearings Stock Performance

Shares of RBC stock opened at $323.98 on Wednesday. RBC Bearings Incorporated has a 12 month low of $240.36 and a 12 month high of $346.77. 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 company has a market cap of $10.18 billion, a P/E ratio of 47.30, a PEG ratio of 4.30 and a beta of 1.57. The firm has a fifty day moving average price of $317.07 and a 200 day moving average price of $299.53.

RBC Bearings (NYSE:RBC) last issued its earnings results 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). RBC Bearings had a return on equity of 9.88% and a net margin of 14.06%. The business had revenue of $397.90 million for the quarter, compared to analyst estimates of $403.89 million. During the same period last year, the business posted $2.07 EPS. RBC Bearings’s revenue was up 3.2% on a year-over-year basis. Sell-side analysts predict 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.