RBC Bearings Incorporated (NYSE:RBC) Shares Acquired by KBC Group NV

KBC Group NV lifted its holdings in RBC Bearings Incorporated (NYSE:RBC) by 59.7% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,124 shares of the industrial products company’s stock after purchasing an additional 420 shares during the period. KBC Group NV’s holdings in RBC Bearings were worth $336,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in RBC. UMB Bank n.a. increased its position in shares of RBC Bearings by 416.7% in the 3rd quarter. UMB Bank n.a. now owns 93 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 75 shares during the last quarter. Harbor Investment Advisory LLC purchased a new stake in RBC Bearings during the 4th quarter worth about $82,000. Blue Trust Inc. boosted its position in shares of RBC Bearings by 541.9% during the 3rd quarter. Blue Trust Inc. now owns 276 shares of the industrial products company’s stock worth $83,000 after acquiring an additional 233 shares in the last quarter. Quarry LP increased its holdings in shares of RBC Bearings by 1,003.7% in the 3rd quarter. Quarry LP now owns 298 shares of the industrial products company’s stock valued at $89,000 after acquiring an additional 271 shares during the last quarter. Finally, nVerses Capital LLC acquired a new stake in shares of RBC Bearings during the 3rd quarter worth about $120,000.

RBC Bearings Price Performance

RBC Bearings stock opened at $366.74 on Tuesday. The business has a 50 day simple moving average of $317.49 and a 200-day simple moving average of $301.79. RBC Bearings Incorporated has a 12 month low of $240.36 and a 12 month high of $371.00. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 1.18. The stock has a market capitalization of $11.52 billion, a PE ratio of 50.38, a price-to-earnings-growth ratio of 4.81 and a beta of 1.57.

RBC Bearings (NYSE:RBC) last released its earnings results on Friday, November 1st. The industrial products company reported $2.29 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.01). RBC Bearings had a return on equity of 10.06% and a net margin of 14.59%. The firm had revenue of $397.90 million during the quarter, compared to analyst estimates of $403.89 million. During the same quarter last year, the business posted $2.07 EPS. The firm’s revenue was up 3.2% on a year-over-year basis. Equities analysts predict that RBC Bearings Incorporated will post 8.91 earnings per share for the current year.

Wall Street Analysts Forecast Growth

RBC has been the topic of a number of research analyst reports. KeyCorp raised their price objective on shares of RBC Bearings from $375.00 to $395.00 and gave the stock an “overweight” rating in a report on Monday. Truist Financial lifted their target price on RBC Bearings from $351.00 to $410.00 and gave the stock a “buy” rating in a research report on Monday. Bank of America cut RBC Bearings from a “buy” rating to a “neutral” rating and upped their target price for the company from $330.00 to $335.00 in a research report on Thursday, November 21st. Finally, William Blair reaffirmed an “outperform” rating on shares of RBC Bearings in a research report on Tuesday, November 26th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $338.50.

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.