Sanctuary Advisors LLC Sells 228 Shares of RBC Bearings Incorporated (NYSE:RBC)

Sanctuary Advisors LLC lowered its holdings in RBC Bearings Incorporated (NYSE:RBC) by 5.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,833 shares of the industrial products company’s stock after selling 228 shares during the quarter. Sanctuary Advisors LLC’s holdings in RBC Bearings were worth $1,148,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. SkyView Investment Advisors LLC raised its stake in RBC Bearings by 1.6% in the third quarter. SkyView Investment Advisors LLC now owns 3,621 shares of the industrial products company’s stock worth $1,084,000 after buying an additional 58 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of RBC Bearings by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 482,503 shares of the industrial products company’s stock valued at $144,490,000 after acquiring an additional 5,040 shares during the period. Barclays PLC raised its position in shares of RBC Bearings by 162.2% in the 3rd quarter. Barclays PLC now owns 21,030 shares of the industrial products company’s stock worth $6,296,000 after acquiring an additional 13,010 shares in the last quarter. Orion Portfolio Solutions LLC boosted its position in RBC Bearings by 2.2% during the third quarter. Orion Portfolio Solutions LLC now owns 20,635 shares of the industrial products company’s stock valued at $6,178,000 after purchasing an additional 442 shares in the last quarter. Finally, iSAM Funds UK Ltd bought a new stake in RBC Bearings during the third quarter valued at about $345,000.

RBC Bearings Trading Down 1.3 %

NYSE:RBC opened at $306.28 on Friday. 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 firm has a fifty day simple moving average of $312.86 and a 200-day simple moving average of $294.93. RBC Bearings Incorporated has a 12 month low of $240.36 and a 12 month high of $346.77. The company has a market capitalization of $9.62 billion, a P/E ratio of 44.71, a PEG ratio of 4.50 and a beta of 1.55.

RBC Bearings (NYSE:RBC) last posted its quarterly 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). The firm had revenue of $397.90 million for the quarter, compared to analysts’ expectations of $403.89 million. RBC Bearings had a net margin of 14.06% and a return on equity of 9.88%. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.07 EPS. On average, equities research analysts anticipate that RBC Bearings Incorporated will post 8.94 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on RBC. KeyCorp raised shares of RBC Bearings from a “sector weight” rating to an “overweight” rating and set a $375.00 price target for the company in a research report on Friday, November 22nd. William Blair restated an “outperform” rating on shares of RBC Bearings in a research note on Tuesday, November 26th. Truist Financial upped their price target on RBC Bearings from $315.00 to $347.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Finally, Bank of America cut RBC Bearings from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $330.00 to $335.00 in a research report on Thursday, November 21st. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $324.67.

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.