RBC Bearings Incorporated (NYSE:RBC) Shares Sold by MML Investors Services LLC

MML Investors Services LLC trimmed its holdings in RBC Bearings Incorporated (NYSE:RBC) by 2.1% in the third quarter, Holdings Channel.com reports. The institutional investor owned 2,435 shares of the industrial products company’s stock after selling 52 shares during the quarter. MML Investors Services LLC’s holdings in RBC Bearings were worth $729,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC boosted its stake in RBC Bearings by 1.2% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,941,467 shares of the industrial products company’s stock worth $523,769,000 after buying an additional 22,470 shares during the last quarter. State Street Corp raised its holdings in shares of RBC Bearings by 2.4% during the 3rd quarter. State Street Corp now owns 845,175 shares of the industrial products company’s stock worth $253,028,000 after acquiring an additional 19,962 shares during the period. Conestoga Capital Advisors LLC boosted its position in shares of RBC Bearings by 1.7% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 740,842 shares of the industrial products company’s stock valued at $221,793,000 after acquiring an additional 12,375 shares during the last quarter. Geneva Capital Management LLC grew its stake in shares of RBC Bearings by 1.4% in the 3rd quarter. Geneva Capital Management LLC now owns 590,650 shares of the industrial products company’s stock valued at $176,829,000 after buying an additional 8,012 shares during the period. Finally, Port Capital LLC increased its holdings in shares of RBC Bearings by 0.9% during the 3rd 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 during the last quarter.

RBC Bearings Price Performance

RBC stock opened at $306.28 on Friday. The business’s fifty day moving average price is $312.86 and its 200 day moving average price is $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 PE ratio of 44.71, a P/E/G ratio of 4.50 and a beta of 1.55. The company has a current ratio of 3.48, a quick ratio of 1.28 and a debt-to-equity ratio of 0.38.

RBC Bearings (NYSE:RBC) last issued 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). 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 analysts’ expectations of $403.89 million. During the same quarter last year, the company earned $2.07 earnings per share. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, sell-side analysts anticipate that RBC Bearings Incorporated will post 8.94 EPS for the current year.

Analysts Set New Price Targets

RBC has been the topic of a number of recent analyst reports. KeyCorp upgraded RBC Bearings from a “sector weight” rating to an “overweight” rating and set a $375.00 price objective on the stock in a report on Friday, November 22nd. William Blair reaffirmed an “outperform” rating on shares of RBC Bearings in a research note on Tuesday, November 26th. Bank of America downgraded 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. Finally, Truist Financial upped their target price on shares of RBC Bearings from $315.00 to $347.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $324.67.

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.