RBC Bearings Incorporated $RBC Shares Bought by Advisors Capital Management LLC

Advisors Capital Management LLC grew its stake in shares of RBC Bearings Incorporated (NYSE:RBC) by 2.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 33,385 shares of the industrial products company’s stock after purchasing an additional 906 shares during the period. Advisors Capital Management LLC owned approximately 0.11% of RBC Bearings worth $14,971,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Advisors Asset Management Inc. acquired a new position in RBC Bearings during the first quarter worth about $26,000. Larson Financial Group LLC grew its holdings in shares of RBC Bearings by 148.5% in the 3rd quarter. Larson Financial Group LLC now owns 82 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 49 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new position in RBC Bearings in the 4th quarter valued at approximately $35,000. Root Financial Partners LLC purchased a new position in RBC Bearings in the 3rd quarter valued at approximately $36,000. Finally, EverSource Wealth Advisors LLC raised its holdings in RBC Bearings by 123.3% during the second quarter. EverSource Wealth Advisors LLC now owns 96 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 53 shares during the last quarter.

RBC Bearings Stock Performance

NYSE RBC opened at $589.89 on Monday. The company has a quick ratio of 0.67, a current ratio of 1.86 and a debt-to-equity ratio of 0.22. RBC Bearings Incorporated has a fifty-two week low of $319.88 and a fifty-two week high of $607.45. The business has a fifty day moving average of $563.63 and a 200-day moving average of $493.44. The stock has a market cap of $18.65 billion, a price-to-earnings ratio of 69.40, a price-to-earnings-growth ratio of 2.82 and a beta of 1.49.

RBC Bearings (NYSE:RBC) last posted its quarterly earnings data on Thursday, February 5th. The industrial products company reported $3.04 EPS for the quarter, beating analysts’ consensus estimates of $2.83 by $0.21. RBC Bearings had a return on equity of 10.86% and a net margin of 15.00%.The business had revenue of $461.60 million for the quarter, compared to analyst estimates of $460.69 million. During the same quarter last year, the company earned $2.34 earnings per share. The business’s revenue for the quarter was up 17.0% compared to the same quarter last year. As a group, analysts predict that RBC Bearings Incorporated will post 11.65 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on RBC shares. KeyCorp boosted their target price on RBC Bearings from $595.00 to $680.00 and gave the stock an “overweight” rating in a research report on Monday, March 2nd. Morgan Stanley restated an “overweight” rating and issued a $600.00 price target on shares of RBC Bearings in a research report on Friday, February 6th. Truist Financial lifted their price target on RBC Bearings from $542.00 to $599.00 and gave the stock a “buy” rating in a research note on Friday, February 6th. Zacks Research upgraded shares of RBC Bearings from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 11th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $542.00 target price on shares of RBC Bearings in a report on Monday, February 9th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target 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.