BNP Paribas Financial Markets Trims Stock Holdings in RBC Bearings Incorporated (NYSE:RBC)

BNP Paribas Financial Markets lessened its stake in shares of RBC Bearings Incorporated (NYSE:RBC) by 74.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,237 shares of the industrial products company’s stock after selling 9,396 shares during the quarter. BNP Paribas Financial Markets’ holdings in RBC Bearings were worth $968,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. R Squared Ltd acquired a new position in shares of RBC Bearings in the 4th quarter worth approximately $30,000. Golden State Wealth Management LLC acquired a new position in RBC Bearings during the fourth quarter worth $38,000. UMB Bank n.a. boosted its position in shares of RBC Bearings by 84.9% during the fourth quarter. UMB Bank n.a. now owns 172 shares of the industrial products company’s stock worth $51,000 after buying an additional 79 shares during the period. Harbor Investment Advisory LLC acquired a new stake in shares of RBC Bearings in the fourth quarter valued at $82,000. Finally, Quarry LP raised its holdings in shares of RBC Bearings by 30.9% in the 4th quarter. Quarry LP now owns 390 shares of the industrial products company’s stock valued at $117,000 after buying an additional 92 shares during the period.

RBC Bearings Trading Down 1.0%

RBC opened at $373.22 on Wednesday. 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 $11.72 billion, a price-to-earnings ratio of 51.27, a PEG ratio of 4.42 and a beta of 1.66. The business has a fifty day moving average price of $335.15 and a 200 day moving average price of $331.40. RBC Bearings Incorporated has a 12 month low of $260.53 and a 12 month high of $380.49.

RBC Bearings (NYSE:RBC) last announced its quarterly earnings data on Friday, May 16th. The industrial products company reported $2.83 EPS for the quarter, topping analysts’ consensus estimates of $2.70 by $0.13. The business had revenue of $437.70 million during the quarter, compared to the consensus estimate of $440.26 million. RBC Bearings had a return on equity of 10.06% and a net margin of 14.59%. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the company posted $2.47 earnings per share. Sell-side analysts expect that RBC Bearings Incorporated will post 9.16 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. KeyCorp raised their target price on RBC Bearings from $375.00 to $395.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Morgan Stanley increased their price target on shares of RBC Bearings from $390.00 to $415.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Truist Financial reissued a “buy” rating and issued a $405.00 price objective (up previously from $375.00) on shares of RBC Bearings in a research note on Monday. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $365.20.

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.