Parr Mcknight Wealth Management Group LLC Takes $1.08 Million Position in RBC Bearings Incorporated (NYSE:RBC)

Parr Mcknight Wealth Management Group LLC bought a new position in RBC Bearings Incorporated (NYSE:RBC - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,597 shares of the industrial products company's stock, valued at approximately $1,076,000.

Several other large investors also recently made changes to their positions in RBC. Bank of New York Mellon Corp boosted its holdings in shares of RBC Bearings by 0.6% in the fourth quarter. Bank of New York Mellon Corp now owns 199,174 shares of the industrial products company's stock valued at $59,581,000 after acquiring an additional 1,103 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in RBC Bearings by 39.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 222,430 shares of the industrial products company's stock worth $66,247,000 after purchasing an additional 62,706 shares during the period. Callan Family Office LLC boosted its stake in shares of RBC Bearings by 251.7% during the 4th quarter. Callan Family Office LLC now owns 2,416 shares of the industrial products company's stock valued at $723,000 after buying an additional 1,729 shares during the period. Advantage Alpha Capital Partners LP raised its holdings in shares of RBC Bearings by 35.3% during the 4th quarter. Advantage Alpha Capital Partners LP now owns 18,514 shares of the industrial products company's stock valued at $5,545,000 after purchasing an additional 4,835 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of RBC Bearings by 5.6% during the 4th quarter. Rhumbline Advisers now owns 82,366 shares of the industrial products company's stock valued at $24,639,000 after purchasing an additional 4,367 shares in the last quarter.

Wall Street Analyst Weigh In

Several research analysts recently commented on RBC shares. Morgan Stanley reiterated an "overweight" rating and issued a $415.00 target price (up previously from $390.00) on shares of RBC Bearings in a report on Tuesday, May 20th. Truist Financial reiterated a "buy" rating and issued a $405.00 target price (up previously from $375.00) on shares of RBC Bearings in a report on Monday, May 19th. Finally, KeyCorp lifted their target price 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 equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, RBC Bearings currently has an average rating of "Moderate Buy" and an average price target of $387.50.

RBC Bearings Trading Down 0.1%

NYSE:RBC traded down $0.39 during trading hours on Thursday, hitting $364.58. The stock had a trading volume of 24,818 shares, compared to its average volume of 158,863. RBC Bearings Incorporated has a one year low of $260.53 and a one year high of $380.49. 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 company has a market cap of $11.45 billion, a price-to-earnings ratio of 50.08, a P/E/G ratio of 4.42 and a beta of 1.66. The business's 50 day moving average is $338.38 and its 200-day moving average is $333.62.

RBC Bearings (NYSE:RBC - Get Free Report) last released its earnings results on Friday, May 16th. The industrial products company reported $2.83 earnings per share for the quarter, beating analysts' consensus estimates of $2.70 by $0.13. The business had revenue of $437.70 million during the quarter, compared to the consensus estimate of $440.26 million. RBC Bearings had a net margin of 14.59% and a return on equity of 10.06%. The firm's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.47 earnings per share. Sell-side analysts anticipate 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.