Anfield Capital Management LLC Makes New Investment in RBC Bearings Incorporated $RBC

Anfield Capital Management LLC bought a new stake in shares of RBC Bearings Incorporated (NYSE:RBC) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund bought 6,022 shares of the industrial products company’s stock, valued at approximately $2,350,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Advisors Asset Management Inc. bought a new stake in RBC Bearings in the first quarter valued at about $26,000. AQR Capital Management LLC grew its position in shares of RBC Bearings by 27.8% during the 1st quarter. AQR Capital Management LLC now owns 1,297 shares of the industrial products company’s stock worth $417,000 after buying an additional 282 shares during the period. Integrated Wealth Concepts LLC increased its stake in shares of RBC Bearings by 32.7% in the 1st quarter. Integrated Wealth Concepts LLC now owns 1,229 shares of the industrial products company’s stock valued at $395,000 after acquiring an additional 303 shares during the last quarter. Jones Financial Companies Lllp raised its position in shares of RBC Bearings by 64.1% in the 1st quarter. Jones Financial Companies Lllp now owns 1,111 shares of the industrial products company’s stock valued at $357,000 after acquiring an additional 434 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in RBC Bearings by 2.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 211,744 shares of the industrial products company’s stock worth $68,133,000 after acquiring an additional 4,253 shares during the last quarter.

RBC Bearings Stock Down 0.1%

RBC Bearings stock opened at $575.67 on Friday. The company has a current ratio of 1.86, a quick ratio of 0.67 and a debt-to-equity ratio of 0.22. RBC Bearings Incorporated has a 1-year low of $297.28 and a 1-year high of $581.87. The company has a fifty day simple moving average of $508.11 and a 200 day simple moving average of $442.85. The company has a market cap of $18.20 billion, a P/E ratio of 67.73, a price-to-earnings-growth ratio of 3.25 and a beta of 1.52.

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. 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 in the prior year, the company posted $2.34 earnings per share. RBC Bearings’s revenue was up 17.0% on a year-over-year basis. Research analysts anticipate that RBC Bearings Incorporated will post 9.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have commented on RBC shares. Morgan Stanley reaffirmed an “overweight” rating and issued a $600.00 target price on shares of RBC Bearings in a research note on Friday, February 6th. Deutsche Bank Aktiengesellschaft set a $527.00 price objective on shares of RBC Bearings and gave the company a “buy” rating in a research report on Wednesday, December 17th. KeyCorp raised their price objective on RBC Bearings from $535.00 to $595.00 and gave the stock an “overweight” rating in a research note on Friday, February 6th. The Goldman Sachs Group reissued a “neutral” rating and issued a $542.00 target price on shares of RBC Bearings in a research note on Monday, February 9th. Finally, Truist Financial raised 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 given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $560.50.

RBC Bearings Company 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.