Two Sigma Advisers LP Sells 6,000 Shares of RBC Bearings Incorporated (NYSE:RBC)

Two Sigma Advisers LP lowered its holdings in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 89.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 700 shares of the industrial products company's stock after selling 6,000 shares during the quarter. Two Sigma Advisers LP's holdings in RBC Bearings were worth $209,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Golden State Wealth Management LLC purchased a new position in RBC Bearings during the 4th quarter valued at $38,000. Quarry LP boosted its holdings in RBC Bearings by 30.9% during the 4th 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. Venturi Wealth Management LLC boosted its holdings in RBC Bearings by 2,405.3% during the 4th quarter. Venturi Wealth Management LLC now owns 476 shares of the industrial products company's stock valued at $142,000 after acquiring an additional 457 shares during the period. Mather Group LLC. boosted its holdings in RBC Bearings by 16.9% during the 4th quarter. Mather Group LLC. now owns 499 shares of the industrial products company's stock valued at $149,000 after acquiring an additional 72 shares during the period. Finally, Huntington National Bank boosted its holdings in RBC Bearings by 18.3% during the 4th quarter. Huntington National Bank now owns 622 shares of the industrial products company's stock valued at $186,000 after acquiring an additional 96 shares during the period.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on RBC. Truist Financial restated a "buy" rating and set a $405.00 price objective (up previously from $375.00) on shares of RBC Bearings in a report on Monday, May 19th. Morgan Stanley reiterated an "overweight" rating and issued a $415.00 target price (up from $390.00) on shares of RBC Bearings in a report on Tuesday, May 20th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $387.50.

RBC Bearings Price Performance

Shares of RBC stock opened at $381.47 on Friday. RBC Bearings Incorporated has a twelve month low of $260.53 and a twelve month high of $386.41. The stock has a market capitalization of $11.98 billion, a price-to-earnings ratio of 52.40, a P/E/G ratio of 4.42 and a beta of 1.66. The stock has a fifty day simple moving average of $344.33 and a two-hundred day simple moving average of $336.41. The company has a current ratio of 3.43, a quick ratio of 1.18 and a debt-to-equity ratio of 0.34.

RBC Bearings (NYSE:RBC - Get Free Report) last released its quarterly 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. The firm had revenue of $437.70 million during the quarter, compared to analyst estimates of $440.26 million. RBC Bearings had a return on equity of 10.06% and a net margin of 14.59%. The business's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.47 EPS. On average, analysts predict that RBC Bearings Incorporated will post 9.16 EPS for the current fiscal year.

About RBC Bearings

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.

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