BNP Paribas Financial Markets Lowers Stock Holdings in RBC Bearings Incorporated (NYSE:RBC)

BNP Paribas Financial Markets lowered its stake in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 74.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,237 shares of the industrial products company's stock after selling 9,396 shares during the quarter. BNP Paribas Financial Markets' holdings in RBC Bearings were worth $968,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. R Squared Ltd purchased a new stake in shares of RBC Bearings during the fourth quarter worth $30,000. Golden State Wealth Management LLC purchased a new stake in shares of RBC Bearings during the fourth quarter worth $38,000. UMB Bank n.a. increased 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 period. Harbor Investment Advisory LLC purchased a new stake in shares of RBC Bearings during the fourth quarter worth $82,000. Finally, Quarry LP increased its position in shares of RBC Bearings by 30.9% during the fourth quarter. Quarry LP now owns 390 shares of the industrial products company's stock worth $117,000 after acquiring an additional 92 shares during the period.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Morgan Stanley reaffirmed an "overweight" rating and set a $415.00 price objective (up previously from $390.00) on shares of RBC Bearings in a research report on Tuesday, May 20th. Truist Financial restated a "buy" rating and issued a $405.00 price target (up from $375.00) on shares of RBC Bearings in a research note on Monday, May 19th. Finally, KeyCorp raised their price target on RBC Bearings from $375.00 to $395.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $365.20.

RBC Bearings Stock Up 0.2%

RBC Bearings stock traded up $0.66 during midday trading on Monday, reaching $360.43. The company's stock had a trading volume of 176,228 shares, compared to its average volume of 159,071. RBC Bearings Incorporated has a fifty-two week low of $260.53 and a fifty-two week high of $380.49. The company has a quick ratio of 1.18, a current ratio of 3.43 and a debt-to-equity ratio of 0.34. The company has a market cap of $11.32 billion, a P/E ratio of 49.51, a P/E/G ratio of 4.42 and a beta of 1.66. The business has a 50-day simple moving average of $336.97 and a 200-day simple moving average of $333.16.

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

RBC Bearings Company 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.