RBC Bearings Incorporated $RBC Shares Sold by Douglas Lane & Associates LLC

Key Points

• Douglas Lane & Associates LLC trimmed its RBC Bearings stake by 2.5% in Q4, selling 3,726 shares and now holds 144,743 shares (~0.46% of the company) worth about $64.9 million.
• Analysts maintain a consensus Buy rating with an average price target of $574.67 (individual targets range up to $680), while the stock recently traded around $594, near its 12‑month high of $597.99.
• RBC beat Q4 estimates with EPS of $3.04 (vs. $2.83) and revenue of $461.6M (up 17% YoY); analysts forecast roughly $9.16 EPS for the year, and the company has a market cap of about $18.8B and a P/E near 69.9.

Douglas Lane & Associates LLC decreased its stake in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 2.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 144,743 shares of the industrial products company's stock after selling 3,726 shares during the quarter. Douglas Lane & Associates LLC owned approximately 0.46% of RBC Bearings worth $64,907,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of RBC Bearings in the fourth quarter worth about $35,000. Advisors Asset Management Inc. acquired a new stake in shares of RBC Bearings during the first quarter valued at about $26,000. Larson Financial Group LLC increased its position in shares of RBC Bearings by 148.5% during 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 stake in shares of RBC Bearings during the third quarter valued at about $36,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of RBC Bearings by 123.3% during 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.

Analysts Set New Price Targets

Several research analysts have commented on RBC shares. Morgan Stanley reiterated an "overweight" rating and set a $600.00 price target on shares of RBC Bearings in a report on Friday, February 6th. Deutsche Bank Aktiengesellschaft set a $527.00 price objective on shares of RBC Bearings and gave the stock a "buy" rating in a research report on Wednesday, December 17th. KeyCorp upped their price objective 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. Truist Financial upped their price target on shares of RBC Bearings from $542.00 to $599.00 and gave the stock a "buy" rating in a research note on Friday, February 6th. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of RBC Bearings in a research note on Monday, December 22nd. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $574.67.

RBC Bearings Price Performance

NYSE:RBC opened at $594.38 on Friday. The firm has a market cap of $18.79 billion, a price-to-earnings ratio of 69.93, a price-to-earnings-growth ratio of 2.80 and a beta of 1.49. The company has a current ratio of 1.86, a quick ratio of 0.67 and a debt-to-equity ratio of 0.22. The company's 50-day moving average is $550.51 and its two-hundred day moving average is $475.73. RBC Bearings Incorporated has a 12-month low of $310.95 and a 12-month high of $597.99.

RBC Bearings (NYSE:RBC - Get Free Report) last released 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. The company had revenue of $461.60 million for the quarter, compared to analyst estimates of $460.69 million. RBC Bearings had a net margin of 15.00% and a return on equity of 10.86%. The firm's quarterly revenue was up 17.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.34 EPS. Research analysts expect that RBC Bearings Incorporated will post 9.16 EPS for the current 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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