Jefferies Financial Group Inc. Invests $239,000 in RBC Bearings Incorporated (NYSE:RBC)

Jefferies Financial Group Inc. bought a new stake in RBC Bearings Incorporated (NYSE:RBC - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 799 shares of the industrial products company's stock, valued at approximately $239,000.

A number of other hedge funds have also recently modified their holdings of RBC. R Squared Ltd bought a new stake in RBC Bearings in the 4th quarter worth approximately $30,000. Golden State Wealth Management LLC bought a new position in RBC Bearings in the fourth quarter worth approximately $38,000. Quarry LP raised its position in RBC Bearings by 30.9% in 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. Venturi Wealth Management LLC boosted its stake in shares of 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 during the last quarter. Finally, Mather Group LLC. grew its position in shares of RBC Bearings by 16.9% during the 4th quarter. Mather Group LLC. now owns 499 shares of the industrial products company's stock valued at $149,000 after acquiring an additional 72 shares during the period.

Wall Street Analyst Weigh In

RBC has been the subject of several analyst reports. Morgan Stanley reaffirmed 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 reiterated a "buy" rating and set a $405.00 price objective (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 assigned a buy rating to the company. According to data from MarketBeat, RBC Bearings presently has an average rating of "Moderate Buy" and a consensus target price of $387.50.

RBC Bearings Price Performance

Shares of RBC Bearings stock traded up $2.84 on Wednesday, hitting $377.26. 181,974 shares of the company traded hands, compared to its average volume of 159,428. 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 stock has a market capitalization of $11.85 billion, a P/E ratio of 51.82, a price-to-earnings-growth ratio of 4.42 and a beta of 1.66. RBC Bearings Incorporated has a 52 week low of $260.53 and a 52 week high of $380.49. The business has a 50-day simple moving average of $342.25 and a 200 day simple moving average of $335.52.

RBC Bearings (NYSE:RBC - Get Free Report) last announced its quarterly earnings results on Friday, May 16th. The industrial products company reported $2.83 earnings per share for the quarter, topping 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 company had revenue of $437.70 million for the quarter, compared to analysts' expectations of $440.26 million. During the same quarter in the previous year, the business posted $2.47 earnings per share. RBC Bearings's quarterly revenue was up 5.8% on a year-over-year basis. 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.