Blair William & Co. IL Grows Stock Position in RBC Bearings Incorporated $RBC

Key Points

• Blair William & Co. IL increased its stake in RBC Bearings by 4.4% in the fourth quarter, adding 9,331 shares and bringing its total holding to 222,235 shares worth about $99.7 million.
• RBC Bearings reported strong quarterly results, with earnings of $3.62 per share versus the $3.31 estimate and revenue of $518 million, up 18.3% year over year.
• Analyst sentiment remains generally positive, with several firms raising price targets and the consensus rating staying at “Moderate Buy,” though one recent report downgraded the stock to hold.

Blair William & Co. IL increased its position in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 4.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 222,235 shares of the industrial products company's stock after buying an additional 9,331 shares during the quarter. Blair William & Co. IL owned about 0.70% of RBC Bearings worth $99,657,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Lido Advisors LLC raised its position in shares of RBC Bearings by 3.5% during the 4th quarter. Lido Advisors LLC now owns 647 shares of the industrial products company's stock valued at $278,000 after buying an additional 22 shares during the period. UMB Bank n.a. raised its position in shares of RBC Bearings by 7.1% during the 4th quarter. UMB Bank n.a. now owns 348 shares of the industrial products company's stock valued at $156,000 after buying an additional 23 shares during the period. Assetmark Inc. raised its position in shares of RBC Bearings by 4.6% during the 3rd quarter. Assetmark Inc. now owns 563 shares of the industrial products company's stock valued at $220,000 after buying an additional 25 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of RBC Bearings by 27.1% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 122 shares of the industrial products company's stock valued at $48,000 after buying an additional 26 shares during the period. Finally, State of New Jersey Common Pension Fund D raised its position in shares of RBC Bearings by 0.3% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 10,070 shares of the industrial products company's stock valued at $3,930,000 after buying an additional 27 shares during the period.

RBC Bearings Stock Performance

NYSE:RBC opened at $620.72 on Wednesday. The company has a fifty day simple moving average of $588.95 and a two-hundred day simple moving average of $536.80. The company has a market cap of $19.64 billion, a price-to-earnings ratio of 68.29, a price-to-earnings-growth ratio of 3.57 and a beta of 1.42. The company has a quick ratio of 0.78, a current ratio of 2.18 and a debt-to-equity ratio of 0.21. RBC Bearings Incorporated has a 52 week low of $363.05 and a 52 week high of $632.00.

RBC Bearings (NYSE:RBC - Get Free Report) last posted its quarterly earnings results on Friday, May 15th. The industrial products company reported $3.62 EPS for the quarter, topping the consensus estimate of $3.31 by $0.31. The business had revenue of $518.00 million during the quarter, compared to the consensus estimate of $505.90 million. RBC Bearings had a net margin of 15.37% and a return on equity of 11.35%. The company's quarterly revenue was up 18.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.83 earnings per share. As a group, equities analysts anticipate that RBC Bearings Incorporated will post 13.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

RBC has been the topic of several analyst reports. Wall Street Zen raised shares of RBC Bearings from a "hold" rating to a "buy" rating in a research report on Saturday, June 6th. Zacks Research lowered shares of RBC Bearings from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, June 3rd. Morgan Stanley lifted their price target on shares of RBC Bearings from $600.00 to $640.00 and gave the company an "overweight" rating in a research report on Tuesday, May 19th. Truist Financial reaffirmed a "buy" rating and set a $615.00 price target (up from $599.00) on shares of RBC Bearings in a research report on Tuesday, May 19th. Finally, KeyCorp lifted their price target on shares of RBC Bearings from $595.00 to $680.00 and gave the company an "overweight" rating in a research report on Monday, March 2nd. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $584.00.

Insider Activity at RBC Bearings

In other RBC Bearings news, Director Edward Stewart sold 600 shares of the business's stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $592.83, for a total value of $355,698.00. Following the completion of the transaction, the director owned 21,337 shares in the company, valued at $12,649,213.71. The trade was a 2.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.90% of the stock is currently owned by company insiders.

About RBC Bearings

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.

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