Voloridge Investment Management LLC Reduces Stock Position in RBC Bearings Incorporated (NYSE:RBC)

Voloridge Investment Management LLC lessened its stake in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 16.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,896 shares of the industrial products company's stock after selling 3,758 shares during the period. Voloridge Investment Management LLC owned 0.06% of RBC Bearings worth $5,653,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. R Squared Ltd acquired a new position in RBC Bearings in the fourth quarter valued at $30,000. Golden State Wealth Management LLC purchased a new position in shares of RBC Bearings during the fourth quarter worth about $38,000. Quarry LP grew its holdings in shares of RBC Bearings by 30.9% during the fourth quarter. Quarry LP now owns 390 shares of the industrial products company's stock worth $117,000 after buying an additional 92 shares during the last quarter. Venturi Wealth Management LLC grew its holdings in shares of RBC Bearings by 2,405.3% during the fourth quarter. Venturi Wealth Management LLC now owns 476 shares of the industrial products company's stock worth $142,000 after buying an additional 457 shares during the last quarter. Finally, Mather Group LLC. grew its holdings in shares of RBC Bearings by 16.9% during the fourth quarter. Mather Group LLC. now owns 499 shares of the industrial products company's stock worth $149,000 after buying an additional 72 shares during the last quarter.

RBC Bearings Stock Performance

NYSE:RBC traded up $0.46 during mid-day trading on Friday, reaching $365.79. The stock had a trading volume of 152,475 shares, compared to its average volume of 159,232. 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 firm has a market capitalization of $11.49 billion, a price-to-earnings ratio of 50.25, a PEG ratio of 4.42 and a beta of 1.66. RBC Bearings Incorporated has a twelve month low of $260.53 and a twelve month high of $380.49. The business has a 50 day simple moving average of $339.63 and a 200 day simple moving average of $334.41.

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

Analyst Upgrades and Downgrades

RBC has been the topic of a number of research reports. Morgan Stanley reissued an "overweight" rating and set a $415.00 price target (up previously from $390.00) on shares of RBC Bearings in a report on Tuesday, May 20th. KeyCorp raised their price target on RBC Bearings from $375.00 to $395.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Finally, Truist Financial reissued a "buy" rating and set a $405.00 price target (up previously from $375.00) on shares of RBC Bearings in a report on Monday, May 19th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $387.50.

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.