Tower Research Capital LLC TRC Grows Holdings in RBC Bearings Incorporated (NYSE:RBC)

Tower Research Capital LLC TRC raised its position in shares of RBC Bearings Incorporated (NYSE:RBCFree Report) by 234.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,255 shares of the industrial products company’s stock after purchasing an additional 3,683 shares during the quarter. Tower Research Capital LLC TRC’s holdings in RBC Bearings were worth $1,497,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in RBC Bearings by 2.2% in the 3rd quarter. Vanguard Group Inc. now owns 2,694,538 shares of the industrial products company’s stock worth $630,872,000 after buying an additional 57,510 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of RBC Bearings by 16.1% in the third quarter. JPMorgan Chase & Co. now owns 712,962 shares of the industrial products company’s stock worth $166,926,000 after acquiring an additional 99,066 shares during the period. Conestoga Capital Advisors LLC grew its position in shares of RBC Bearings by 0.5% during the fourth quarter. Conestoga Capital Advisors LLC now owns 695,547 shares of the industrial products company’s stock worth $198,154,000 after purchasing an additional 3,415 shares in the last quarter. Geneva Capital Management LLC raised its stake in RBC Bearings by 0.5% during the 4th quarter. Geneva Capital Management LLC now owns 585,988 shares of the industrial products company’s stock valued at $166,942,000 after purchasing an additional 2,668 shares during the period. Finally, Bamco Inc. NY lifted its holdings in RBC Bearings by 0.8% in the 3rd quarter. Bamco Inc. NY now owns 386,570 shares of the industrial products company’s stock worth $90,508,000 after purchasing an additional 3,084 shares in the last quarter.

Analyst Upgrades and Downgrades

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

Read Our Latest Stock Analysis on RBC

RBC Bearings Stock Down 1.4 %

Shares of NYSE RBC opened at $276.10 on Tuesday. The company has a current ratio of 3.28, a quick ratio of 1.16 and a debt-to-equity ratio of 0.43. RBC Bearings Incorporated has a 12-month low of $203.65 and a 12-month high of $299.24. The firm’s 50-day moving average price is $267.64 and its 200-day moving average price is $268.76. The stock has a market capitalization of $7.98 billion, a price-to-earnings ratio of 43.14, a P/E/G ratio of 3.43 and a beta of 1.55.

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

About RBC Bearings

(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.

See Also

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.