R Squared Ltd Takes Position in RBC Bearings Incorporated (NYSE:RBC)

R Squared Ltd bought a new stake in RBC Bearings Incorporated (NYSE:RBC) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 100 shares of the industrial products company’s stock, valued at approximately $30,000.

A number of other large investors have also recently bought and sold shares of the business. Curated Wealth Partners LLC raised its position in RBC Bearings by 1.6% during the 4th quarter. Curated Wealth Partners LLC now owns 1,989 shares of the industrial products company’s stock worth $595,000 after buying an additional 32 shares during the last quarter. Marco Investment Management LLC raised its position in RBC Bearings by 6.6% during the 3rd quarter. Marco Investment Management LLC now owns 810 shares of the industrial products company’s stock worth $242,000 after buying an additional 50 shares during the last quarter. Raymond James Trust N.A. raised its position in RBC Bearings by 2.6% during the 3rd quarter. Raymond James Trust N.A. now owns 2,116 shares of the industrial products company’s stock worth $633,000 after buying an additional 53 shares during the last quarter. SkyView Investment Advisors LLC raised its position in RBC Bearings by 1.6% during the 3rd 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 during the last quarter. Finally, UMB Bank n.a. raised its position in RBC Bearings by 416.7% during the 3rd quarter. UMB Bank n.a. now owns 93 shares of the industrial products company’s stock worth $28,000 after buying an additional 75 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on RBC. William Blair restated an “outperform” rating on shares of RBC Bearings in a research report on Tuesday, November 26th. Bank of America downgraded shares of RBC Bearings from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $330.00 to $335.00 in a research report on Thursday, November 21st. KeyCorp raised their price objective on shares of RBC Bearings from $375.00 to $395.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Truist Financial raised their price objective on shares of RBC Bearings from $351.00 to $410.00 and gave the company a “buy” rating in a research note on Monday. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, RBC Bearings currently has an average rating of “Moderate Buy” and a consensus target price of $338.50.

RBC Bearings Stock Performance

Shares of RBC opened at $366.74 on Tuesday. The company has a current ratio of 3.43, a quick ratio of 1.18 and a debt-to-equity ratio of 0.34. The stock has a market cap of $11.52 billion, a P/E ratio of 50.38, a PEG ratio of 4.81 and a beta of 1.57. The company has a 50-day moving average of $317.49 and a two-hundred day moving average of $301.79. RBC Bearings Incorporated has a 12-month low of $240.36 and a 12-month high of $371.00.

RBC Bearings (NYSE:RBC) last announced its 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). The business had revenue of $397.90 million for the quarter, compared to analyst estimates of $403.89 million. RBC Bearings had a return on equity of 10.06% and a net margin of 14.59%. The business’s revenue was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.07 EPS. As a group, research analysts predict that RBC Bearings Incorporated will post 8.91 EPS for the current fiscal 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.