RBC Bearings Incorporated (NYSE:RBC) Shares Acquired by Argent Capital Management LLC

Argent Capital Management LLC raised its position in shares of RBC Bearings Incorporated (NYSE:RBC) by 33.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 4,521 shares of the industrial products company’s stock after purchasing an additional 1,123 shares during the quarter. Argent Capital Management LLC’s holdings in RBC Bearings were worth $1,352,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Park Avenue Securities LLC grew its holdings in RBC Bearings by 33.6% in the 4th quarter. Park Avenue Securities LLC now owns 1,755 shares of the industrial products company’s stock worth $525,000 after buying an additional 441 shares in the last quarter. Oak Thistle LLC increased its stake in RBC Bearings by 21.9% in the 4th quarter. Oak Thistle LLC now owns 3,003 shares of the industrial products company’s stock worth $898,000 after purchasing an additional 540 shares in the last quarter. PFW Advisors LLC purchased a new position in RBC Bearings in the 4th quarter worth about $374,000. Douglas Lane & Associates LLC increased its stake in RBC Bearings by 17.0% in the 4th quarter. Douglas Lane & Associates LLC now owns 147,452 shares of the industrial products company’s stock worth $44,109,000 after purchasing an additional 21,379 shares in the last quarter. Finally, Everence Capital Management Inc. purchased a new position in RBC Bearings during the 4th quarter valued at about $296,000.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on RBC shares. William Blair reissued an “outperform” rating on shares of RBC Bearings in a research note on Tuesday, November 26th. Bank of America lowered RBC Bearings from a “buy” rating to a “neutral” rating and upped their price target for the stock from $330.00 to $335.00 in a report on Thursday, November 21st. Truist Financial upped their price target on RBC Bearings from $347.00 to $351.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, KeyCorp upgraded RBC Bearings from a “sector weight” rating to an “overweight” rating and set a $375.00 target price for the company in a research note on Friday, November 22nd. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $325.33.

RBC Bearings Stock Up 0.5 %

RBC Bearings stock opened at $306.15 on Thursday. The stock has a market capitalization of $9.62 billion, a PE ratio of 44.69, a price-to-earnings-growth ratio of 4.04 and a beta of 1.57. RBC Bearings Incorporated has a twelve month low of $240.36 and a twelve month high of $346.77. The company has a quick ratio of 1.28, a current ratio of 3.48 and a debt-to-equity ratio of 0.38. The company has a 50 day moving average of $317.37 and a 200-day moving average of $298.15.

RBC Bearings (NYSE:RBC) last announced its quarterly earnings data on Friday, November 1st. The industrial products company reported $2.29 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.01). The business had revenue of $397.90 million during the quarter, compared to the consensus estimate of $403.89 million. RBC Bearings had a return on equity of 9.88% and a net margin of 14.06%. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.07 EPS. On average, equities research analysts anticipate that RBC Bearings Incorporated will post 8.94 EPS for the current fiscal year.

RBC Bearings Profile

RBC Bearings Incorporated manufactures and markets engineered precision bearings, components, and systems in the United States and internationally. It operates through two segments, Aerospace/Defense and Industrial. The company produces plain bearings with self-lubricating or metal-to-metal designs, including rod end bearings, spherical plain bearings, and journal bearings; roller bearings, such as tapered roller bearings, needle roller bearings, and needle bearing track rollers and cam followers, which are anti-friction products that are used in industrial applications and military aircraft platforms; and ball bearings include high precision aerospace, airframe control, thin section, and industrial ball bearings that utilize high precision ball elements to reduce friction in high-speed applications.