Avior Wealth Management LLC Reduces Stake in RBC Bearings Incorporated (NYSE:RBC)

Avior Wealth Management LLC reduced its position in RBC Bearings Incorporated (NYSE:RBC) by 7.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,935 shares of the industrial products company’s stock after selling 313 shares during the period. Avior Wealth Management LLC’s holdings in RBC Bearings were worth $1,177,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of RBC. State Street Corp increased its position in RBC Bearings by 2.4% during the third quarter. State Street Corp now owns 845,175 shares of the industrial products company’s stock worth $253,028,000 after buying an additional 19,962 shares in the last quarter. Conestoga Capital Advisors LLC increased its position in RBC Bearings by 1.7% during the third quarter. Conestoga Capital Advisors LLC now owns 740,842 shares of the industrial products company’s stock worth $221,793,000 after buying an additional 12,375 shares in the last quarter. Geneva Capital Management LLC increased its position in RBC Bearings by 1.4% during the third quarter. Geneva Capital Management LLC now owns 590,650 shares of the industrial products company’s stock worth $176,829,000 after buying an additional 8,012 shares in the last quarter. Geode Capital Management LLC increased its position in RBC Bearings by 1.1% during the third quarter. Geode Capital Management LLC now owns 482,503 shares of the industrial products company’s stock worth $144,490,000 after buying an additional 5,040 shares in the last quarter. Finally, Port Capital LLC increased its position in RBC Bearings by 0.9% during the third quarter. Port Capital LLC now owns 385,101 shares of the industrial products company’s stock worth $115,292,000 after buying an additional 3,525 shares in the last quarter.

Analysts Set New Price Targets

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

RBC Bearings Price Performance

Shares of RBC Bearings stock opened at $314.21 on Friday. RBC Bearings Incorporated has a twelve month low of $240.36 and a twelve month high of $346.77. The stock has a market capitalization of $9.87 billion, a P/E ratio of 45.87, a PEG ratio of 4.45 and a beta of 1.57. 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 business’s fifty day moving average price is $317.28 and its 200 day moving average price is $300.06.

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 analysts’ consensus estimates of $2.30 by ($0.01). RBC Bearings had a net margin of 14.06% and a return on equity of 9.88%. The firm had revenue of $397.90 million during the quarter, compared to analyst estimates of $403.89 million. During the same quarter in the previous year, the business posted $2.07 EPS. RBC Bearings’s revenue was up 3.2% compared to the same quarter last year. As a group, research analysts anticipate that RBC Bearings Incorporated will post 8.91 earnings per share for the current year.

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.