Hsbc Holdings PLC Acquires Shares of 9,498 RBC Bearings Incorporated (NYSE:RBC)

Hsbc Holdings PLC acquired a new stake in shares of RBC Bearings Incorporated (NYSE:RBCFree Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,498 shares of the industrial products company’s stock, valued at approximately $2,708,000.

Other institutional investors have also added to or reduced their stakes in the company. Keybank National Association OH bought a new stake in shares of RBC Bearings during the third quarter valued at about $250,000. Amalgamated Bank increased its position in shares of RBC Bearings by 352.6% during the third quarter. Amalgamated Bank now owns 19,275 shares of the industrial products company’s stock valued at $4,513,000 after buying an additional 15,016 shares during the period. Swiss National Bank increased its position in shares of RBC Bearings by 1.1% during the third quarter. Swiss National Bank now owns 63,890 shares of the industrial products company’s stock valued at $14,959,000 after buying an additional 700 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of RBC Bearings by 3.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 277,840 shares of the industrial products company’s stock valued at $65,051,000 after buying an additional 9,557 shares during the period. Finally, Vanguard Personalized Indexing Management LLC bought a new position in shares of RBC Bearings in the third quarter worth approximately $267,000.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Truist Financial upped their price objective on shares of RBC Bearings from $309.00 to $328.00 and gave the stock a “buy” rating in a research report on Tuesday, May 21st. Morgan Stanley upped their price objective on shares of RBC Bearings from $310.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, May 23rd. William Blair assumed coverage on shares of RBC Bearings in a research report on Wednesday, May 29th. They issued an “outperform” rating on the stock. Citigroup upped their price objective on shares of RBC Bearings from $250.00 to $285.00 and gave the stock a “neutral” rating in a research report on Monday, February 12th. Finally, The Goldman Sachs Group upped their price objective on shares of RBC Bearings from $245.00 to $276.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 28th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $286.57.

Read Our Latest Research Report on RBC Bearings

RBC Bearings Stock Down 1.5 %

Shares of RBC opened at $282.22 on Friday. The firm has a market cap of $8.16 billion, a P/E ratio of 44.10, a P/E/G ratio of 3.50 and a beta of 1.55. The stock has a 50 day simple moving average of $267.45 and a two-hundred day simple moving average of $268.10. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.28 and a quick ratio of 1.16. RBC Bearings Incorporated has a 1 year low of $203.65 and a 1 year high of $299.24.

RBC Bearings (NYSE:RBCGet Free Report) last issued its earnings results on Friday, May 17th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.25 by $0.22. The business had revenue of $413.70 million during the quarter, compared to analyst estimates of $414.21 million. RBC Bearings had a return on equity of 9.81% and a net margin of 13.45%. RBC Bearings’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.06 earnings per share. On average, analysts forecast that RBC Bearings Incorporated will post 8.93 earnings per share for the current fiscal year.

RBC Bearings Company Profile

(Free Report)

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.

Featured Articles

Institutional Ownership by Quarter for RBC Bearings (NYSE:RBC)

Receive News & Ratings for RBC Bearings Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RBC Bearings and related companies with MarketBeat.com's FREE daily email newsletter.