Douglas Lane & Associates LLC Raises Holdings in RBC Bearings Incorporated (NYSE:RBC)

Douglas Lane & Associates LLC raised its position in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 2.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 151,651 shares of the industrial products company's stock after acquiring an additional 4,199 shares during the period. Douglas Lane & Associates LLC owned approximately 0.48% of RBC Bearings worth $48,797,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of RBC Bearings during the fourth quarter worth about $88,184,000. Raymond James Financial Inc. bought a new stake in shares of RBC Bearings in the 4th quarter valued at $71,324,000. Vanguard Group Inc. boosted its stake in shares of RBC Bearings by 8.5% in the 4th quarter. Vanguard Group Inc. now owns 2,938,923 shares of the industrial products company's stock valued at $879,149,000 after purchasing an additional 229,466 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of RBC Bearings by 38,860.9% in the 1st quarter. GAMMA Investing LLC now owns 201,428 shares of the industrial products company's stock valued at $64,813,000 after purchasing an additional 200,911 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in shares of RBC Bearings by 32.6% in the 4th quarter. Ameriprise Financial Inc. now owns 534,881 shares of the industrial products company's stock valued at $159,998,000 after purchasing an additional 131,614 shares during the last quarter.

Analysts Set New Price Targets

A number of research firms recently issued reports on RBC. Morgan Stanley reiterated an "overweight" rating and set a $415.00 target price (up previously from $390.00) on shares of RBC Bearings in a research report on Tuesday, May 20th. Truist Financial reiterated a "buy" rating and set a $405.00 target price (up previously from $375.00) on shares of RBC Bearings in a research report on Monday, May 19th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, RBC Bearings presently has an average rating of "Moderate Buy" and a consensus price target of $387.50.

RBC Bearings Stock Performance

RBC traded up $3.10 during midday trading on Thursday, hitting $380.60. 58,296 shares of the company traded hands, compared to its average volume of 159,035. 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 firm has a market capitalization of $11.95 billion, a PE ratio of 52.28, a price-to-earnings-growth ratio of 4.42 and a beta of 1.66. The company's 50-day moving average is $342.25 and its 200 day moving average is $335.52. RBC Bearings Incorporated has a 52 week low of $260.53 and a 52 week high of $382.34.

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