Nomura Holdings Inc. Invests $1.24 Million in RBC Bearings Incorporated (NYSE:RBC)

Nomura Holdings Inc. bought a new stake in RBC Bearings Incorporated (NYSE:RBC - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 4,145 shares of the industrial products company's stock, valued at approximately $1,240,000.

A number of other large investors have also bought and sold shares of RBC. R Squared Ltd bought a new position in shares of RBC Bearings in the fourth quarter worth about $30,000. Golden State Wealth Management LLC acquired a new stake in shares of RBC Bearings in the 4th quarter valued at $38,000. UMB Bank n.a. raised its position in shares of RBC Bearings by 84.9% during the fourth quarter. UMB Bank n.a. now owns 172 shares of the industrial products company's stock worth $51,000 after acquiring an additional 79 shares during the last quarter. Harbor Investment Advisory LLC acquired a new position in shares of RBC Bearings during the fourth quarter valued at $82,000. Finally, Quarry LP boosted its holdings in RBC Bearings by 30.9% in the fourth quarter. Quarry LP now owns 390 shares of the industrial products company's stock valued at $117,000 after acquiring an additional 92 shares during the last quarter.

RBC Bearings Trading Down 2.0%

RBC traded down $7.49 during mid-day trading on Thursday, hitting $359.31. The stock had a trading volume of 232,513 shares, compared to its average volume of 158,851. The stock's fifty day simple moving average is $335.76 and its 200-day simple moving average is $331.65. The firm has a market capitalization of $11.29 billion, a price-to-earnings ratio of 49.36, a price-to-earnings-growth ratio of 4.42 and a beta of 1.66. RBC Bearings Incorporated has a 1-year low of $260.53 and a 1-year high of $380.49. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 1.18.

RBC Bearings (NYSE:RBC - Get Free Report) last issued its quarterly earnings data on Friday, May 16th. The industrial products company reported $2.83 EPS for the quarter, topping the consensus estimate of $2.70 by $0.13. RBC Bearings had a return on equity of 10.06% and a net margin of 14.59%. The business had revenue of $437.70 million for the quarter, compared to the consensus estimate of $440.26 million. During the same quarter last year, the business posted $2.47 EPS. The firm's revenue was up 5.8% compared to the same quarter last year. As a group, research analysts forecast that RBC Bearings Incorporated will post 9.16 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on RBC. KeyCorp increased their price objective on shares of RBC Bearings from $375.00 to $395.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Truist Financial reissued a "buy" rating and issued a $405.00 price target (up previously from $375.00) on shares of RBC Bearings in a research note on Monday. Finally, Morgan Stanley lifted their price objective on RBC Bearings from $390.00 to $415.00 and gave the stock an "overweight" rating in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $365.20.

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.