Raymond James Financial Services Advisors Inc. Has $538,000 Stake in RBC Bearings Incorporated (NYSE:RBC)

Raymond James Financial Services Advisors Inc. boosted its stake in RBC Bearings Incorporated (NYSE:RBC) by 16.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,890 shares of the industrial products company’s stock after buying an additional 265 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in RBC Bearings were worth $538,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. First Capital Advisors Group LLC. purchased a new stake in RBC Bearings in the 2nd quarter worth approximately $26,000. LWM Advisory Services LLC purchased a new stake in RBC Bearings in the 3rd quarter worth approximately $31,000. Compass Wealth Management LLC purchased a new stake in RBC Bearings in the 1st quarter worth approximately $34,000. Stephens Inc. AR purchased a new stake in RBC Bearings in the 1st quarter worth approximately $36,000. Finally, First Manhattan CO. LLC. purchased a new stake in RBC Bearings in the 1st quarter worth approximately $40,000.

RBC Bearings Stock Performance

Shares of RBC opened at $242.79 on Friday. The company has a market capitalization of $6.84 billion, a PE ratio of 40.60, a price-to-earnings-growth ratio of 4.77 and a beta of 1.45. RBC Bearings Incorporated has a one year low of $195.18 and a one year high of $288.16. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.28 and a quick ratio of 1.12. The company’s fifty day moving average price is $265.53 and its 200 day moving average price is $258.10.

RBC Bearings (NYSE:RBC) last announced its earnings results on Thursday, February 8th. The industrial products company reported $1.75 EPS for the quarter, missing the consensus estimate of $1.83 by ($0.08). The firm had revenue of $373.91 million during the quarter, compared to the consensus estimate of $376.61 million. RBC Bearings had a return on equity of 9.64% and a net margin of 12.81%. As a group, analysts expect that RBC Bearings Incorporated will post 8.1 earnings per share for the current year.

Analysts Set New Price Targets

RBC has been the subject of a number of research analyst reports. Truist Financial increased their target price on shares of RBC Bearings from $271.00 to $309.00 and gave the stock a “buy” rating in a research report on Wednesday, January 10th. Citigroup raised their price target on shares of RBC Bearings from $250.00 to $285.00 and gave the company a “neutral” rating in a report on Monday, February 12th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $275.86.

Insider Buying and Selling

In related news, COO Daniel A. Bergeron sold 15,000 shares of RBC Bearings stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $267.22, for a total value of $4,008,300.00. Following the transaction, the chief operating officer now owns 121,935 shares in the company, valued at approximately $32,583,470.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.90% of the company’s stock.

About RBC Bearings

RBC Bearings Incorporated manufactures and markets engineered precision bearings and components 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.