Silvercrest Asset Management Group LLC Has $12.22 Million Stock Holdings in RBC Bearings Incorporated (NYSE:RBC)

Silvercrest Asset Management Group LLC raised its stake in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 3.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 40,852 shares of the industrial products company's stock after buying an additional 1,478 shares during the period. Silvercrest Asset Management Group LLC owned about 0.13% of RBC Bearings worth $12,220,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in RBC. R Squared Ltd acquired a new stake in shares of RBC Bearings in the fourth quarter worth $30,000. Golden State Wealth Management LLC bought a new stake in RBC Bearings during the fourth quarter valued at about $38,000. UMB Bank n.a. grew its stake in shares of RBC Bearings by 84.9% in the 4th quarter. UMB Bank n.a. now owns 172 shares of the industrial products company's stock valued at $51,000 after purchasing an additional 79 shares during the period. Harbor Investment Advisory LLC acquired a new stake in RBC Bearings in the 4th quarter valued at $82,000. Finally, Quarry LP grew its position in RBC Bearings by 30.9% in the fourth quarter. Quarry LP now owns 390 shares of the industrial products company's stock valued at $117,000 after acquiring an additional 92 shares during the period.

RBC Bearings Stock Down 1.6%

Shares of RBC Bearings stock traded down $6.13 on Wednesday, hitting $367.18. The company had a trading volume of 112,329 shares, compared to its average volume of 158,557. The stock has a 50-day moving average of $335.15 and a 200-day moving average of $331.40. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 1.18. RBC Bearings Incorporated has a twelve month low of $260.53 and a twelve month high of $380.49. The firm has a market capitalization of $11.53 billion, a P/E ratio of 50.44, a P/E/G ratio of 4.42 and a beta of 1.66.

RBC Bearings (NYSE:RBC - Get Free Report) last released its earnings results on Friday, May 16th. The industrial products company reported $2.83 EPS for the quarter, beating the consensus estimate of $2.70 by $0.13. The firm had revenue of $437.70 million for the quarter, compared to analysts' expectations of $440.26 million. RBC Bearings had a return on equity of 10.06% and a net margin of 14.59%. The business's quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.47 EPS. Research analysts predict that RBC Bearings Incorporated will post 9.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

RBC has been the subject of a number of recent analyst reports. Truist Financial reiterated a "buy" rating and set a $405.00 target price (up previously from $375.00) on shares of RBC Bearings in a research report on Monday. Morgan Stanley lifted their price objective on shares of RBC Bearings from $390.00 to $415.00 and gave the stock an "overweight" rating in a research note on Tuesday. Finally, KeyCorp upped their target price on shares of RBC Bearings from $375.00 to $395.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $365.20.

RBC Bearings 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.