Oppenheimer Asset Management Inc. Sells 2,609 Shares of RBC Bearings Incorporated $RBC

Key Points

• Oppenheimer Asset Management cut its stake in RBC Bearings by 13.2%, selling 2,609 shares and ending the quarter with 17,203 shares valued at about $7.714 million.
• RBC Bearings beat quarterly expectations with EPS $3.04 vs. $2.83 and revenue of $461.6 million (up 17% year‑over‑year); analysts project roughly 11.65 EPS for the fiscal year.
• Analysts have a consensus Buy rating with an average price target of $574.67 amid mixed individual calls (KeyCorp raised its target to $680; Zacks upgraded to strong‑buy while Wall Street Zen cut to hold), and several large institutions (State Street, Artisan, Invesco) materially increased their positions.

Oppenheimer Asset Management Inc. cut its holdings in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 13.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,203 shares of the industrial products company's stock after selling 2,609 shares during the quarter. Oppenheimer Asset Management Inc. owned 0.05% of RBC Bearings worth $7,714,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. State Street Corp lifted its position in RBC Bearings by 0.5% in the 3rd quarter. State Street Corp now owns 919,259 shares of the industrial products company's stock valued at $358,778,000 after acquiring an additional 4,568 shares in the last quarter. Artisan Partners Limited Partnership lifted its position in RBC Bearings by 51.7% in the 3rd quarter. Artisan Partners Limited Partnership now owns 619,592 shares of the industrial products company's stock valued at $241,821,000 after acquiring an additional 211,093 shares in the last quarter. Invesco Ltd. lifted its position in RBC Bearings by 60.5% in the 3rd quarter. Invesco Ltd. now owns 381,161 shares of the industrial products company's stock valued at $148,763,000 after acquiring an additional 143,710 shares in the last quarter. Port Capital LLC lifted its holdings in shares of RBC Bearings by 0.9% during the 3rd quarter. Port Capital LLC now owns 367,848 shares of the industrial products company's stock valued at $143,567,000 after buying an additional 3,300 shares during the period. Finally, First Trust Advisors LP lifted its holdings in shares of RBC Bearings by 36.4% during the 3rd quarter. First Trust Advisors LP now owns 352,734 shares of the industrial products company's stock valued at $137,669,000 after buying an additional 94,203 shares during the period.

Analyst Upgrades and Downgrades

RBC has been the topic of several research analyst reports. The Goldman Sachs Group reissued a "neutral" rating and set a $542.00 price target on shares of RBC Bearings in a report on Monday, February 9th. KeyCorp increased their price target on RBC Bearings from $595.00 to $680.00 and gave the company an "overweight" rating in a report on Monday, March 2nd. Morgan Stanley reissued an "overweight" rating and set a $600.00 price target on shares of RBC Bearings in a report on Friday, February 6th. Zacks Research raised RBC Bearings from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 11th. Finally, Wall Street Zen cut RBC Bearings from a "buy" rating to a "hold" rating in a report on Sunday, April 12th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $574.67.

RBC Bearings Trading Down 0.5%

Shares of RBC stock opened at $596.12 on Friday. RBC Bearings Incorporated has a 52-week low of $337.43 and a 52-week high of $607.45. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.67 and a current ratio of 1.86. The firm has a market capitalization of $18.85 billion, a PE ratio of 70.13, a PEG ratio of 2.86 and a beta of 1.47. The stock has a fifty day simple moving average of $566.84 and a two-hundred day simple moving average of $497.78.

RBC Bearings (NYSE:RBC - Get Free Report) last issued its quarterly earnings results on Thursday, February 5th. The industrial products company reported $3.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.83 by $0.21. RBC Bearings had a return on equity of 10.86% and a net margin of 15.00%.The business had revenue of $461.60 million during the quarter, compared to analyst estimates of $460.69 million. During the same quarter in the prior year, the business posted $2.34 EPS. RBC Bearings's revenue for the quarter was up 17.0% compared to the same quarter last year. On average, analysts predict that RBC Bearings Incorporated will post 11.65 EPS for the current fiscal year.

RBC Bearings Company Profile

RBC Bearings Incorporated is a global designer, manufacturer and marketer of highly engineered precision bearings and components for extreme applications. The company's product portfolio includes cylindrical roller bearings, spherical plain bearings, ball bearings, track rollers, and engineered components such as metal-to-metal and polymer bearings. These products are tailored to meet the demanding requirements of aerospace, defense and industrial customers where reliability under severe conditions is critical.

The company's bearings and components find application in aircraft engines, auxiliary power units, landing gear systems, space and missile programs, industrial gas turbines, oil and gas drilling equipment, and heavy machinery.

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