Dimensional Fund Advisors LP Has $128.54 Million Stock Position in RBC Bearings Incorporated $RBC

Dimensional Fund Advisors LP cut its stake in shares of RBC Bearings Incorporated (NYSE:RBC) by 0.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 329,395 shares of the industrial products company’s stock after selling 1,617 shares during the period. Dimensional Fund Advisors LP owned 1.04% of RBC Bearings worth $128,543,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Assetmark Inc. raised its stake in shares of RBC Bearings by 4.6% during the 3rd quarter. Assetmark Inc. now owns 563 shares of the industrial products company’s stock worth $220,000 after purchasing an additional 25 shares in the last quarter. Jones Financial Companies Lllp grew its stake in shares of RBC Bearings by 2.7% in the third quarter. Jones Financial Companies Lllp now owns 994 shares of the industrial products company’s stock valued at $383,000 after buying an additional 26 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of RBC Bearings by 27.1% in the third quarter. EverSource Wealth Advisors LLC now owns 122 shares of the industrial products company’s stock valued at $48,000 after buying an additional 26 shares in the last quarter. State of New Jersey Common Pension Fund D increased its holdings in RBC Bearings by 0.3% during the third quarter. State of New Jersey Common Pension Fund D now owns 10,070 shares of the industrial products company’s stock worth $3,930,000 after buying an additional 27 shares during the last quarter. Finally, Brown Advisory Inc. increased its holdings in RBC Bearings by 4.7% during the second quarter. Brown Advisory Inc. now owns 685 shares of the industrial products company’s stock worth $264,000 after buying an additional 31 shares during the last quarter.

RBC Bearings Price Performance

RBC Bearings stock opened at $560.15 on Thursday. The firm has a market cap of $17.71 billion, a PE ratio of 65.90, a price-to-earnings-growth ratio of 3.14 and a beta of 1.47. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.86 and a quick ratio of 0.67. The stock’s fifty day moving average price is $525.69 and its two-hundred day moving average price is $452.47. RBC Bearings Incorporated has a one year low of $297.28 and a one year high of $589.16.

RBC Bearings (NYSE:RBC) last released its earnings results on Thursday, February 5th. The industrial products company reported $3.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.83 by $0.21. The company had revenue of $461.60 million for the quarter, compared to analyst estimates of $460.69 million. RBC Bearings had a return on equity of 10.86% and a net margin of 15.00%.RBC Bearings’s quarterly revenue was up 17.0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.34 EPS. As a group, research analysts expect that RBC Bearings Incorporated will post 9.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

RBC has been the subject of a number of recent analyst reports. The Goldman Sachs Group reiterated a “neutral” rating and issued a $542.00 price target on shares of RBC Bearings in a research note on Monday, February 9th. Deutsche Bank Aktiengesellschaft set a $527.00 price objective on shares of RBC Bearings and gave the stock a “buy” rating in a research note on Wednesday, December 17th. Morgan Stanley reiterated an “overweight” rating and issued a $600.00 target price on shares of RBC Bearings in a research note on Friday, February 6th. Zacks Research upgraded RBC Bearings from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 11th. Finally, Truist Financial boosted their price target on RBC Bearings from $542.00 to $599.00 and gave the stock a “buy” rating in a research report on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, RBC Bearings presently has a consensus rating of “Buy” and an average target price of $574.67.

RBC Bearings Profile

RBC Bearings Incorporated is a global designer, manufacturer and marketer of highly engineered precision bearings and components for extreme applications. The company’s product portfolio includes cylindrical roller bearings, spherical plain bearings, ball bearings, track rollers, and engineered components such as metal-to-metal and polymer bearings. These products are tailored to meet the demanding requirements of aerospace, defense and industrial customers where reliability under severe conditions is critical.

The company’s bearings and components find application in aircraft engines, auxiliary power units, landing gear systems, space and missile programs, industrial gas turbines, oil and gas drilling equipment, and heavy machinery.