Calamos Advisors LLC Cuts Holdings in RBC Bearings Incorporated $RBC

Calamos Advisors LLC trimmed its holdings in shares of RBC Bearings Incorporated (NYSE:RBC) by 19.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,711 shares of the industrial products company’s stock after selling 898 shares during the period. Calamos Advisors LLC’s holdings in RBC Bearings were worth $1,664,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. State Street Corp boosted its stake in RBC Bearings by 0.5% during the 3rd quarter. State Street Corp now owns 919,259 shares of the industrial products company’s stock valued at $358,778,000 after purchasing an additional 4,568 shares during the last quarter. Artisan Partners Limited Partnership boosted its stake in RBC Bearings by 51.7% during the 3rd quarter. Artisan Partners Limited Partnership now owns 619,592 shares of the industrial products company’s stock valued at $241,821,000 after purchasing an additional 211,093 shares during the last quarter. Invesco Ltd. boosted its stake in RBC Bearings by 60.5% during the 3rd quarter. Invesco Ltd. now owns 381,161 shares of the industrial products company’s stock valued at $148,763,000 after purchasing an additional 143,710 shares during the last quarter. Port Capital LLC boosted its stake in RBC Bearings by 0.9% during the 3rd quarter. Port Capital LLC now owns 367,848 shares of the industrial products company’s stock valued at $143,567,000 after purchasing an additional 3,300 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of RBC Bearings by 36.4% during the 3rd quarter. First Trust Advisors LP now owns 352,734 shares of the industrial products company’s stock valued at $137,669,000 after buying an additional 94,203 shares during the period.

Analyst Ratings Changes

Several equities analysts have recently weighed in on RBC shares. Zacks Research raised RBC Bearings from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 11th. Wall Street Zen cut RBC Bearings from a “buy” rating to a “hold” rating in a report on Sunday, April 12th. Morgan Stanley reissued an “overweight” rating and set a $600.00 price target on shares of RBC Bearings in a report on Friday, February 6th. The Goldman Sachs Group reissued a “neutral” rating and set a $542.00 price target on shares of RBC Bearings in a report on Monday, February 9th. Finally, KeyCorp increased their price target on RBC Bearings from $595.00 to $680.00 and gave the company an “overweight” rating in a report on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $574.67.

RBC Bearings Price Performance

NYSE RBC opened at $591.38 on Tuesday. RBC Bearings Incorporated has a 1-year low of $319.88 and a 1-year high of $607.45. The business’s fifty day moving average price is $564.38 and its 200-day moving average price is $494.90. The stock has a market capitalization of $18.70 billion, a price-to-earnings ratio of 69.57, a PEG ratio of 2.82 and a beta of 1.49. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.86 and a quick ratio of 0.67.

RBC Bearings (NYSE:RBC) last announced its earnings results on Thursday, February 5th. The industrial products company reported $3.04 EPS for the quarter, topping 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 company had revenue of $461.60 million for the quarter, compared to analysts’ expectations of $460.69 million. During the same period last year, the firm earned $2.34 EPS. RBC Bearings’s revenue for the quarter was up 17.0% compared to the same quarter last year. On average, equities analysts predict that RBC Bearings Incorporated will post 11.65 earnings per share for the current year.

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.