RBC Bearings Incorporated $RBC Shares Purchased by Cwm LLC

Key Points

• Cwm LLC raised its stake in RBC Bearings by 1,877.2% in Q4, buying an additional 5,425 shares to hold 5,714 shares worth about $2.56 million.
• RBC Bearings beat Q4 EPS estimates ($3.04 vs. $2.83) and reported revenue of $461.6 million, up 17% year-over-year, indicating continued growth momentum.
• Analysts are largely bullish with a consensus "Buy" rating and an average target of $574.67 (some targets up to $680), while the stock trades near $589.89 with a market cap of $18.65 billion.

Cwm LLC raised its stake in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 1,877.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,714 shares of the industrial products company's stock after purchasing an additional 5,425 shares during the period. Cwm LLC's holdings in RBC Bearings were worth $2,562,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in RBC Bearings during the fourth quarter worth approximately $35,000. Advisors Asset Management Inc. acquired a new position in RBC Bearings in the first quarter valued at $26,000. Larson Financial Group LLC boosted its holdings in RBC Bearings by 148.5% in the third quarter. Larson Financial Group LLC now owns 82 shares of the industrial products company's stock valued at $32,000 after acquiring an additional 49 shares during the last quarter. Root Financial Partners LLC acquired a new position in RBC Bearings in the third quarter valued at $36,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in RBC Bearings by 123.3% in the second quarter. EverSource Wealth Advisors LLC now owns 96 shares of the industrial products company's stock valued at $37,000 after acquiring an additional 53 shares during the last quarter.

RBC Bearings Price Performance

RBC stock opened at $589.89 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.67 and a current ratio of 1.86. RBC Bearings Incorporated has a 1 year low of $319.88 and a 1 year high of $607.45. The firm has a market cap of $18.65 billion, a P/E ratio of 69.40, a price-to-earnings-growth ratio of 2.87 and a beta of 1.49. The stock has a 50-day simple moving average of $563.63 and a 200-day simple moving average of $491.83.

RBC Bearings (NYSE:RBC - Get Free Report) last posted its earnings results on Thursday, February 5th. The industrial products company reported $3.04 earnings per share (EPS) for the quarter, beating 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 last year, the firm earned $2.34 earnings per share. The company's revenue for the quarter was up 17.0% compared to the same quarter last year. On average, equities analysts predict that RBC Bearings Incorporated will post 11.65 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on RBC. Zacks Research upgraded RBC Bearings from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 11th. Truist Financial increased their target price on shares of RBC Bearings from $542.00 to $599.00 and gave the stock a "buy" rating in a research report on Friday, February 6th. Morgan Stanley reissued an "overweight" rating and set a $600.00 target price on shares of RBC Bearings in a research report on Friday, February 6th. The Goldman Sachs Group reissued a "neutral" rating and set a $542.00 target price on shares of RBC Bearings in a research report on Monday, February 9th. Finally, KeyCorp increased their target price on shares of RBC Bearings from $595.00 to $680.00 and gave the stock an "overweight" rating in a research report on Monday, March 2nd. One investment 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 company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $574.67.

About RBC Bearings

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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