RBC Bearings Incorporated (NYSE:RBC) Shares Bought by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 5.7% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 200,327 shares of the industrial products company's stock after buying an additional 10,744 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.64% of RBC Bearings worth $59,926,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of RBC. R Squared Ltd acquired a new position in RBC Bearings during the fourth quarter worth approximately $30,000. Golden State Wealth Management LLC acquired a new position in RBC Bearings during the fourth quarter worth approximately $38,000. UMB Bank n.a. increased its position in RBC Bearings by 84.9% during the fourth quarter. UMB Bank n.a. now owns 172 shares of the industrial products company's stock worth $51,000 after purchasing an additional 79 shares during the last quarter. Harbor Investment Advisory LLC acquired a new stake in shares of RBC Bearings in the fourth quarter worth $82,000. Finally, Quarry LP increased its position in shares of RBC Bearings by 30.9% in the fourth quarter. Quarry LP now owns 390 shares of the industrial products company's stock worth $117,000 after acquiring an additional 92 shares in the last quarter.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Morgan Stanley upped their price target on shares of RBC Bearings from $360.00 to $390.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 4th. KeyCorp upped their price target on shares of RBC Bearings from $375.00 to $395.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Finally, Truist Financial decreased their price target on shares of RBC Bearings from $410.00 to $375.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, RBC Bearings presently has a consensus rating of "Moderate Buy" and an average target price of $354.20.

RBC Bearings Stock Up 0.3%

RBC traded up $1.08 during trading hours on Friday, reaching $368.35. 248,927 shares of the stock traded hands, compared to its average volume of 160,654. The firm's fifty day simple moving average is $332.93 and its two-hundred day simple moving average is $329.24. The company has a market cap of $11.57 billion, a price-to-earnings ratio of 50.60, a PEG ratio of 4.42 and a beta of 1.66. RBC Bearings Incorporated has a fifty-two week low of $260.53 and a fifty-two week high of $380.00. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 1.18.

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