Squarepoint Ops LLC Buys 1,167 Shares of RBC Bearings Incorporated (NYSE:RBC)

Squarepoint Ops LLC raised its stake in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 103.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,293 shares of the industrial products company's stock after buying an additional 1,167 shares during the period. Squarepoint Ops LLC's holdings in RBC Bearings were worth $686,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Deutsche Bank AG increased its holdings in RBC Bearings by 2.9% in the 4th quarter. Deutsche Bank AG now owns 1,768 shares of the industrial products company's stock worth $529,000 after purchasing an additional 49 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in RBC Bearings by 0.6% in the 4th 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 buying an additional 1,103 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in RBC Bearings by 39.3% during 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 buying an additional 62,706 shares during the period. Callan Family Office LLC grew its holdings in 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 worth $723,000 after acquiring an additional 1,729 shares during the last quarter. Finally, Advantage Alpha Capital Partners LP increased its position in RBC Bearings by 35.3% in 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 acquiring an additional 4,835 shares during the period.

RBC Bearings Trading Up 0.6%

RBC traded up $2.34 during trading on Thursday, reaching $379.84. 70,324 shares of the stock traded hands, compared to its average volume of 159,094. The company has a quick ratio of 1.18, a current ratio of 3.43 and a debt-to-equity ratio of 0.34. The stock's 50-day moving average is $342.25 and its 200 day moving average is $335.52. RBC Bearings Incorporated has a 12 month low of $260.53 and a 12 month high of $382.34. The stock has a market capitalization of $11.93 billion, a PE ratio of 52.14, 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, topping the consensus estimate of $2.70 by $0.13. RBC Bearings had a return on equity of 10.06% and a net margin of 14.59%. The business had revenue of $437.70 million during the quarter, compared to analysts' expectations of $440.26 million. During the same quarter last year, the firm posted $2.47 earnings per share. The firm's revenue was up 5.8% on a year-over-year basis. Equities analysts anticipate that RBC Bearings Incorporated will post 9.16 earnings per share for the current year.

Analyst Ratings Changes

RBC has been the topic of several analyst reports. Morgan Stanley reissued an "overweight" rating and issued a $415.00 price objective (up previously from $390.00) on shares of RBC Bearings in a research note on Tuesday, May 20th. Truist Financial reiterated a "buy" rating and issued a $405.00 price target (up previously from $375.00) on shares of RBC Bearings in a research report on Monday, May 19th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $387.50.

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.