Davis R M Inc. Reduces Stock Position in RBC Bearings Incorporated $RBC

Davis R M Inc. trimmed its position in RBC Bearings Incorporated (NYSE:RBC) by 3.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,759 shares of the industrial products company’s stock after selling 1,642 shares during the period. Davis R M Inc. owned about 0.13% of RBC Bearings worth $15,908,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Royce & Associates LP raised its position in shares of RBC Bearings by 0.4% in the third quarter. Royce & Associates LP now owns 132,319 shares of the industrial products company’s stock valued at $51,643,000 after buying an additional 520 shares during the last quarter. American Century Companies Inc. grew its stake in RBC Bearings by 34.8% in the 3rd quarter. American Century Companies Inc. now owns 207,604 shares of the industrial products company’s stock worth $81,026,000 after acquiring an additional 53,622 shares during the period. Brand Asset Management Group Inc. acquired a new position in RBC Bearings in the 3rd quarter valued at $246,000. Anfield Capital Management LLC purchased a new position in shares of RBC Bearings during the 3rd quarter worth $2,350,000. Finally, Quantbot Technologies LP purchased a new position in shares of RBC Bearings during the 3rd quarter worth $4,736,000.

RBC Bearings Stock Down 0.1%

RBC opened at $575.67 on Monday. RBC Bearings Incorporated has a 1 year low of $297.28 and a 1 year high of $581.87. The firm has a 50 day moving average price of $508.11 and a 200 day moving average price of $443.34. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.67 and a current ratio of 1.86. The company has a market cap of $18.20 billion, a PE ratio of 67.73, a price-to-earnings-growth ratio of 3.24 and a beta of 1.47.

RBC Bearings (NYSE:RBC) last released its quarterly earnings data 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 net margin of 15.00% and a return on equity of 10.86%. The company had revenue of $461.60 million during the quarter, compared to the consensus estimate of $460.69 million. During the same period in the previous year, the firm earned $2.34 earnings per share. RBC Bearings’s revenue for the quarter was up 17.0% on a year-over-year basis. Sell-side analysts expect that RBC Bearings Incorporated will post 9.16 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on RBC. The Goldman Sachs Group reiterated a “neutral” rating and issued a $542.00 target price on shares of RBC Bearings in a research note on Monday, February 9th. Zacks Research upgraded RBC Bearings from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 11th. Morgan Stanley reaffirmed an “overweight” rating and set a $600.00 price objective on shares of RBC Bearings in a research note on Friday, February 6th. Truist Financial raised their target price on shares of RBC Bearings from $542.00 to $599.00 and gave the stock a “buy” rating in a research report on Friday, February 6th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of RBC Bearings in a report on Monday, December 22nd. 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $560.50.

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.