RBC Bearings Incorporated (NYSE:RBC) Stock Position Lessened by Jane Street Group LLC

Jane Street Group LLC cut its stake in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 90.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,630 shares of the industrial products company's stock after selling 14,906 shares during the quarter. Jane Street Group LLC's holdings in RBC Bearings were worth $488,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. R Squared Ltd acquired a new position in RBC Bearings during the 4th quarter worth approximately $30,000. Golden State Wealth Management LLC acquired a new position in RBC Bearings during the 4th quarter worth approximately $38,000. Quarry LP lifted its position 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 lifted its position in RBC Bearings by 2,405.3% during the 4th quarter. Venturi Wealth Management LLC now owns 476 shares of the industrial products company's stock worth $142,000 after acquiring an additional 457 shares in the last quarter. Finally, Mather Group LLC. lifted its position in RBC Bearings by 16.9% during the 4th quarter. Mather Group LLC. now owns 499 shares of the industrial products company's stock worth $149,000 after acquiring an additional 72 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Truist Financial restated a "buy" rating and set a $405.00 price objective (up from $375.00) on shares of RBC Bearings in a report on Monday, May 19th. Morgan Stanley restated an "overweight" rating and set a $415.00 price objective (up from $390.00) on shares of RBC Bearings in a report on Tuesday, May 20th. Finally, KeyCorp raised their price objective on shares of RBC Bearings from $375.00 to $395.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $387.50.

RBC Bearings Stock Performance

RBC Bearings stock traded up $0.46 during mid-day trading on Friday, reaching $365.79. The company's stock had a trading volume of 152,475 shares, compared to its average volume of 159,385. The company has a current ratio of 3.43, a quick ratio of 1.18 and a debt-to-equity ratio of 0.34. RBC Bearings Incorporated has a twelve month low of $260.53 and a twelve month high of $380.49. The business has a 50 day moving average price of $339.63 and a 200-day moving average price of $334.28. The firm has a market cap of $11.49 billion, a price-to-earnings ratio of 50.25, a PEG ratio of 4.42 and a beta of 1.66.

RBC Bearings (NYSE:RBC - Get Free Report) last posted 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 net margin of 14.59% and a return on equity of 10.06%. The company had revenue of $437.70 million for the quarter, compared to the consensus estimate of $440.26 million. During the same period last year, the firm posted $2.47 EPS. The company's revenue for the quarter was up 5.8% on a year-over-year basis. Sell-side analysts predict that RBC Bearings Incorporated will post 9.16 EPS 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.