Orion Porfolio Solutions LLC Has $7.50 Million Stock Position in RBC Bearings Incorporated $RBC

Key Points

• Orion Portfolio Solutions LLC cut its stake in RBC Bearings by 12.2%, selling 2,674 shares and ending the quarter with 19,225 shares worth about $7.5 million (≈0.06% of the company).
• Analyst sentiment is broadly positive—KeyCorp raised its price target to $680, and MarketBeat shows a consensus rating of "Buy" with an average target of $574.67.
• RBC beat quarterly estimates with EPS of $3.04 and revenue up 17% YoY; the stock trades near $553 with a market cap of $17.49B and a P/E of 65.07.

Orion Porfolio Solutions LLC cut its holdings in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 12.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,225 shares of the industrial products company's stock after selling 2,674 shares during the period. Orion Porfolio Solutions LLC owned about 0.06% of RBC Bearings worth $7,503,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Advisors Asset Management Inc. bought a new position in RBC Bearings in the first quarter valued at about $26,000. AQR Capital Management LLC boosted its stake in shares of RBC Bearings by 27.8% in the 1st quarter. AQR Capital Management LLC now owns 1,297 shares of the industrial products company's stock valued at $417,000 after purchasing an additional 282 shares in the last quarter. Integrated Wealth Concepts LLC boosted its stake in shares of RBC Bearings by 32.7% in the 1st quarter. Integrated Wealth Concepts LLC now owns 1,229 shares of the industrial products company's stock valued at $395,000 after purchasing an additional 303 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of RBC Bearings by 64.1% during the 1st quarter. Jones Financial Companies Lllp now owns 1,111 shares of the industrial products company's stock valued at $357,000 after purchasing an additional 434 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in RBC Bearings by 2.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 211,744 shares of the industrial products company's stock worth $68,133,000 after purchasing an additional 4,253 shares in the last quarter.

Analyst Upgrades and Downgrades

RBC has been the subject of several research analyst reports. KeyCorp upped their price target on shares of RBC Bearings from $595.00 to $680.00 and gave the stock an "overweight" rating in a report on Monday, March 2nd. Morgan Stanley reaffirmed an "overweight" rating and issued a $600.00 target price on shares of RBC Bearings in a report on Friday, February 6th. Wall Street Zen upgraded RBC Bearings from a "hold" rating to a "buy" rating in a research report on Saturday, February 28th. Weiss Ratings reissued a "buy (b-)" rating on shares of RBC Bearings in a research note on Monday, December 22nd. Finally, The Goldman Sachs Group restated a "neutral" rating and set a $542.00 price target on shares of RBC Bearings in a report on Monday, February 9th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $574.67.

RBC Bearings Price Performance

Shares of RBC opened at $553.13 on Friday. The business's fifty day moving average is $519.14 and its 200 day moving average is $448.61. RBC Bearings Incorporated has a 12-month low of $297.28 and a 12-month high of $589.16. The company has a quick ratio of 0.67, a current ratio of 1.86 and a debt-to-equity ratio of 0.22. The stock has a market cap of $17.49 billion, a P/E ratio of 65.07, a P/E/G ratio of 3.19 and a beta of 1.47.

RBC Bearings (NYSE:RBC - Get Free Report) last released its quarterly earnings data on Thursday, February 5th. The industrial products company reported $3.04 earnings per share for the quarter, topping the consensus estimate of $2.83 by $0.21. The firm had revenue of $461.60 million for the quarter, compared to the consensus estimate of $460.69 million. RBC Bearings had a net margin of 15.00% and a return on equity of 10.86%. The business's revenue was up 17.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.34 earnings per share. Sell-side analysts anticipate that RBC Bearings Incorporated will post 9.16 earnings per share for the current fiscal year.

RBC Bearings 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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