RBC Bearings Incorporated (NYSE:RBC) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC grew its stake in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 38,860.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 201,428 shares of the industrial products company's stock after acquiring an additional 200,911 shares during the quarter. GAMMA Investing LLC owned about 0.64% of RBC Bearings worth $64,813,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of RBC. R Squared Ltd acquired a new stake in shares of RBC Bearings during the fourth quarter valued at about $30,000. Golden State Wealth Management LLC purchased a new position in shares of RBC Bearings during the fourth quarter worth $38,000. Quarry LP lifted its stake in RBC Bearings by 30.9% during the 4th quarter. Quarry LP now owns 390 shares of the industrial products company's stock worth $117,000 after acquiring an additional 92 shares in the last quarter. Venturi Wealth Management LLC increased its stake in RBC Bearings by 2,405.3% during the fourth quarter. Venturi Wealth Management LLC now owns 476 shares of the industrial products company's stock worth $142,000 after purchasing an additional 457 shares during the period. Finally, Mather Group LLC. boosted its stake in shares of RBC Bearings by 16.9% in the fourth quarter. Mather Group LLC. now owns 499 shares of the industrial products company's stock valued at $149,000 after purchasing an additional 72 shares during the period.

Wall Street Analyst Weigh In

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

RBC Bearings Stock Performance

Shares of RBC stock traded up $0.87 during mid-day trading on Thursday, hitting $378.37. 126,630 shares of the stock were exchanged, compared to its average volume of 159,298. The stock's fifty day simple moving average is $342.25 and its two-hundred day simple moving average is $335.52. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.18 and a current ratio of 3.43. RBC Bearings Incorporated has a 12-month low of $260.53 and a 12-month high of $382.34. The stock has a market capitalization of $11.88 billion, a price-to-earnings ratio of 51.97, a P/E/G ratio of 4.42 and a beta of 1.66.

RBC Bearings (NYSE:RBC - Get Free Report) last released its quarterly earnings results on Friday, May 16th. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.70 by $0.13. RBC Bearings had a return on equity of 10.06% and a net margin of 14.59%. The firm 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 quarterly revenue was up 5.8% compared to the same quarter last year. On average, analysts forecast that RBC Bearings Incorporated will post 9.16 EPS for the current 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.