Jefferies Financial Group Inc. Makes New Investment in RBC Bearings Incorporated (NYSE:RBC)

Jefferies Financial Group Inc. purchased a new position in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 799 shares of the industrial products company's stock, valued at approximately $239,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. R Squared Ltd bought a new position in RBC Bearings during the fourth quarter worth about $30,000. Golden State Wealth Management LLC acquired a new position in shares of RBC Bearings in the fourth quarter valued at $38,000. UMB Bank n.a. increased its holdings in shares of RBC Bearings by 84.9% in the fourth quarter. UMB Bank n.a. now owns 172 shares of the industrial products company's stock valued at $51,000 after purchasing an additional 79 shares during the last quarter. Harbor Investment Advisory LLC acquired a new position in shares of RBC Bearings in the fourth quarter valued at $82,000. Finally, Quarry LP increased its holdings in shares of RBC Bearings by 30.9% in the fourth quarter. Quarry LP now owns 390 shares of the industrial products company's stock valued at $117,000 after purchasing an additional 92 shares during the last quarter.

RBC Bearings Price Performance

Shares of RBC stock traded down $6.13 during trading on Wednesday, hitting $367.18. The company had a trading volume of 112,329 shares, compared to its average volume of 159,192. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.18 and a current ratio of 3.43. The firm has a market capitalization of $11.53 billion, a P/E ratio of 50.44, a price-to-earnings-growth ratio of 4.42 and a beta of 1.66. The stock's 50-day moving average price is $335.15 and its 200 day moving average price is $331.40. RBC Bearings Incorporated has a one year low of $260.53 and a one year high of $380.49.

RBC Bearings (NYSE:RBC - Get Free Report) last issued its quarterly 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. The business had revenue of $437.70 million during the quarter, compared to analysts' expectations of $440.26 million. RBC Bearings had a return on equity of 10.06% and a net margin of 14.59%. The firm's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.47 earnings per share. Equities analysts expect that RBC Bearings Incorporated will post 9.16 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on the stock. KeyCorp upped their price objective on shares of RBC Bearings from $375.00 to $395.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Truist Financial reaffirmed a "buy" rating and issued a $405.00 target price (up previously from $375.00) on shares of RBC Bearings in a research report on Monday. Finally, Morgan Stanley upped their target price on RBC Bearings from $390.00 to $415.00 and gave the company an "overweight" rating in a research report on Tuesday. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $365.20.

About RBC Bearings

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.