Vanguard Group Inc. Has $1.30 Billion Stock Holdings in RBC Bearings Incorporated $RBC

Key Points

• Vanguard Group trimmed its stake in RBC Bearings by 1.0% in Q4, leaving it with 2,901,998 shares (9.18% ownership) valued at about $1.30 billion after selling 28,831 shares.
• RBC Bearings beat Q4 estimates with $3.04 EPS and $461.6M revenue (up 17% YoY), and the stock trades near $599.85 with a market cap of $18.97B and a P/E of about 70.6.
• Analyst sentiment is largely positive—consensus rating is Buy with a $574.67 average price target and several recent upgrades, including KeyCorp raising its target to $680.

Vanguard Group Inc. cut its position in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 1.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,901,998 shares of the industrial products company's stock after selling 28,831 shares during the period. Vanguard Group Inc. owned 9.18% of RBC Bearings worth $1,301,343,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of RBC Bearings in the 4th quarter valued at about $35,000. Advisors Asset Management Inc. acquired a new stake in shares of RBC Bearings in the 1st quarter valued at about $26,000. Larson Financial Group LLC grew its stake in shares of RBC Bearings by 148.5% in the 3rd quarter. Larson Financial Group LLC now owns 82 shares of the industrial products company's stock valued at $32,000 after buying an additional 49 shares during the period. Root Financial Partners LLC acquired a new stake in shares of RBC Bearings in the 3rd quarter valued at about $36,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of RBC Bearings by 123.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 96 shares of the industrial products company's stock valued at $37,000 after buying an additional 53 shares during the period.

RBC Bearings Price Performance

Shares of NYSE RBC opened at $599.85 on Friday. RBC Bearings Incorporated has a fifty-two week low of $331.05 and a fifty-two week high of $607.45. The stock has a market cap of $18.97 billion, a price-to-earnings ratio of 70.57, a PEG ratio of 2.79 and a beta of 1.49. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.67 and a current ratio of 1.86. The firm's 50-day simple moving average is $566.84 and its 200 day simple moving average is $497.78.

RBC Bearings (NYSE:RBC - Get Free Report) last announced its quarterly earnings results on Thursday, February 5th. The industrial products company reported $3.04 earnings per share for the quarter, beating the consensus estimate of $2.83 by $0.21. RBC Bearings had a net margin of 15.00% and a return on equity of 10.86%. The business had revenue of $461.60 million for the quarter, compared to analysts' expectations of $460.69 million. During the same quarter last year, the firm earned $2.34 EPS. The firm's revenue for the quarter was up 17.0% compared to the same quarter last year. As a group, research analysts anticipate that RBC Bearings Incorporated will post 11.65 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. KeyCorp raised their target price on RBC Bearings from $595.00 to $680.00 and gave the company an "overweight" rating in a research note on Monday, March 2nd. Zacks Research upgraded RBC Bearings from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, February 11th. Truist Financial raised their price target on shares of RBC Bearings from $542.00 to $599.00 and gave the company a "buy" rating in a research report on Friday, February 6th. Morgan Stanley reaffirmed an "overweight" rating and issued a $600.00 price target on shares of RBC Bearings in a research report on Friday, February 6th. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $542.00 price target on shares of RBC Bearings in a research report on Monday, February 9th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $574.67.

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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