American Century Companies Inc. Increases Holdings in RBC Bearings Incorporated $RBC

American Century Companies Inc. increased its position in RBC Bearings Incorporated (NYSE:RBC) by 34.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 207,604 shares of the industrial products company’s stock after acquiring an additional 53,622 shares during the period. American Century Companies Inc. owned approximately 0.66% of RBC Bearings worth $81,026,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brand Asset Management Group Inc. purchased a new stake in RBC Bearings during the third quarter worth $246,000. Anfield Capital Management LLC acquired a new position in shares of RBC Bearings during the 3rd quarter worth $2,350,000. Quantbot Technologies LP acquired a new position in shares of RBC Bearings during the 3rd quarter worth $4,736,000. Erste Asset Management GmbH boosted its position in shares of RBC Bearings by 9.2% in the 3rd quarter. Erste Asset Management GmbH now owns 71,000 shares of the industrial products company’s stock worth $27,285,000 after buying an additional 6,000 shares in the last quarter. Finally, R Squared Ltd grew its stake in RBC Bearings by 86.3% in the 3rd quarter. R Squared Ltd now owns 1,006 shares of the industrial products company’s stock valued at $393,000 after acquiring an additional 466 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on RBC shares. KeyCorp lifted their target price on shares of RBC Bearings from $595.00 to $680.00 and gave the stock an “overweight” rating in a research report on Monday. Wall Street Zen raised shares of RBC Bearings from a “hold” rating to a “buy” rating in a research note on Saturday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of RBC Bearings in a research note on Monday, December 22nd. Truist Financial increased their target price on RBC Bearings from $542.00 to $599.00 and gave the company a “buy” rating in a report on Friday, February 6th. Finally, Deutsche Bank Aktiengesellschaft set a $527.00 price target on RBC Bearings and gave the stock a “buy” rating in a report on Wednesday, December 17th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $574.67.

RBC Bearings Trading Down 2.9%

NYSE RBC opened at $568.01 on Wednesday. RBC Bearings Incorporated has a 12 month low of $297.28 and a 12 month high of $589.16. The company has a 50-day moving average of $512.84 and a 200-day moving average of $445.85. 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 company has a market cap of $17.96 billion, a P/E ratio of 66.82, a P/E/G ratio of 3.30 and a beta of 1.47.

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 net margin of 15.00% and a return on equity of 10.86%. The business had revenue of $461.60 million for the quarter, compared to analysts’ expectations of $460.69 million. During the same period last year, the company earned $2.34 earnings per share. The company’s quarterly revenue was up 17.0% on a year-over-year basis. As a group, equities analysts predict that RBC Bearings Incorporated will post 9.16 earnings per share for the current year.

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.