Gotham Asset Management LLC Reduces Position in RBC Bearings Incorporated (NYSE:RBC)

Gotham Asset Management LLC decreased its holdings in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 25.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,878 shares of the industrial products company's stock after selling 8,965 shares during the period. Gotham Asset Management LLC owned about 0.08% of RBC Bearings worth $7,741,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Ethic Inc. raised its stake in shares of RBC Bearings by 16.5% during the fourth quarter. Ethic Inc. now owns 1,507 shares of the industrial products company's stock valued at $451,000 after acquiring an additional 213 shares in the last quarter. Deutsche Bank AG lifted its stake in RBC Bearings by 2.9% in the fourth quarter. Deutsche Bank AG now owns 1,768 shares of the industrial products company's stock worth $529,000 after acquiring an additional 49 shares during the period. Durable Capital Partners LP lifted its position in shares of RBC Bearings by 1.9% in the 4th quarter. Durable Capital Partners LP now owns 2,631,346 shares of the industrial products company's stock worth $787,141,000 after purchasing an additional 48,287 shares during the period. Cetera Investment Advisers raised its stake in RBC Bearings by 2.4% in the fourth quarter. Cetera Investment Advisers now owns 4,234 shares of the industrial products company's stock worth $1,267,000 after buying an additional 99 shares in the last quarter. Finally, Captrust Financial Advisors lifted its holdings in RBC Bearings by 24.8% during the fourth quarter. Captrust Financial Advisors now owns 5,543 shares of the industrial products company's stock worth $1,658,000 after buying an additional 1,101 shares during the period.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on RBC. Morgan Stanley increased their target price on shares of RBC Bearings from $360.00 to $390.00 and gave the company an "overweight" rating in a research report on Tuesday, February 4th. 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, Truist Financial lowered their price objective on shares of RBC Bearings from $410.00 to $375.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $354.20.

RBC Bearings Stock Performance

Shares of RBC traded up $1.08 during trading hours on Friday, hitting $368.35. The stock had a trading volume of 248,927 shares, compared to its average volume of 160,872. The firm has a market capitalization of $11.57 billion, a price-to-earnings ratio of 50.60, a PEG ratio of 4.42 and a beta of 1.66. 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 50-day moving average price of $332.93 and a 200 day moving average price of $329.24. RBC Bearings Incorporated has a fifty-two week low of $260.53 and a fifty-two week high of $380.00.

RBC Bearings (NYSE:RBC - Get Free Report) last posted its earnings results on Friday, May 16th. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, topping 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 business had revenue of $437.70 million for the quarter, compared to analyst estimates of $440.26 million. During the same period in the prior year, the company posted $2.47 EPS. The company's revenue for the quarter was up 5.8% on a year-over-year basis. As a group, research analysts anticipate that RBC Bearings Incorporated will post 9.16 EPS 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.