UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 3,931 Shares of RBC Bearings Incorporated (NYSE:RBC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its holdings in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 5.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 64,847 shares of the industrial products company's stock after selling 3,931 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.21% of RBC Bearings worth $19,398,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RBC. Torray Investment Partners LLC boosted its stake in RBC Bearings by 0.3% during the fourth quarter. Torray Investment Partners LLC now owns 8,468 shares of the industrial products company's stock worth $2,533,000 after acquiring an additional 28 shares in the last quarter. Townsquare Capital LLC lifted its stake in shares of RBC Bearings by 0.6% in the fourth quarter. Townsquare Capital LLC now owns 5,663 shares of the industrial products company's stock worth $1,694,000 after buying an additional 36 shares in the last quarter. Rafferty Asset Management LLC grew its holdings in shares of RBC Bearings by 6.4% during the fourth quarter. Rafferty Asset Management LLC now owns 713 shares of the industrial products company's stock valued at $213,000 after buying an additional 43 shares during the last quarter. Argonautica Private Wealth Management Inc. lifted its position in RBC Bearings by 3.4% in the 4th quarter. Argonautica Private Wealth Management Inc. now owns 1,399 shares of the industrial products company's stock valued at $418,000 after acquiring an additional 46 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its position in RBC Bearings by 5.4% in the 4th quarter. CIBC Asset Management Inc now owns 912 shares of the industrial products company's stock valued at $273,000 after acquiring an additional 47 shares in the last quarter.

Analyst Ratings Changes

RBC has been the subject of several research analyst reports. Truist Financial reiterated a "buy" rating and issued a $405.00 price objective (up from $375.00) on shares of RBC Bearings in a report on Monday, May 19th. KeyCorp increased their price objective on shares of RBC Bearings from $375.00 to $395.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $415.00 target price (up previously from $390.00) on shares of RBC Bearings in a research report on Tuesday, May 20th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $387.50.

RBC Bearings Stock Performance

Shares of NYSE RBC traded up $0.46 during midday trading on Friday, hitting $365.79. 152,475 shares of the company's stock traded hands, compared to its average volume of 159,385. The firm has a fifty day moving average of $339.63 and a 200 day moving average of $334.28. RBC Bearings Incorporated has a 1 year low of $260.53 and a 1 year high of $380.49. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.18 and a current ratio of 3.43. The stock has a market capitalization of $11.49 billion, a price-to-earnings ratio of 50.25, a price-to-earnings-growth ratio of 4.42 and a beta of 1.66.

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

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.