Cetera Investment Advisers Boosts Position in RBC Bearings Incorporated (NYSE:RBC)

Cetera Investment Advisers increased its stake in RBC Bearings Incorporated (NYSE:RBC) by 2.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,234 shares of the industrial products company’s stock after buying an additional 99 shares during the period. Cetera Investment Advisers’ holdings in RBC Bearings were worth $1,267,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. R Squared Ltd purchased a new position in RBC Bearings in the 4th quarter worth about $30,000. Golden State Wealth Management LLC purchased a new position in RBC Bearings in the 4th quarter worth about $38,000. UMB Bank n.a. increased its stake in RBC Bearings by 84.9% in the 4th 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 purchased a new position in RBC Bearings in the 4th quarter worth about $82,000. Finally, Quarry LP increased its stake in RBC Bearings by 30.9% in the 4th quarter. Quarry LP now owns 390 shares of the industrial products company’s stock worth $117,000 after buying an additional 92 shares during the period.

Analyst Upgrades and Downgrades

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

RBC Bearings Stock Down 2.0%

Shares of RBC Bearings stock opened at $359.31 on Friday. The firm’s 50 day moving average price is $336.00 and its 200-day moving average price is $332.16. The company has a quick ratio of 1.18, a current ratio of 3.43 and a debt-to-equity ratio of 0.34. RBC Bearings Incorporated has a 52-week low of $260.53 and a 52-week high of $380.49. The company has a market cap of $11.29 billion, a P/E ratio of 49.36, a PEG ratio of 4.42 and a beta of 1.66.

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

RBC Bearings 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.