Oak Thistle LLC Purchases 540 Shares of RBC Bearings Incorporated (NYSE:RBC)

Oak Thistle LLC raised its position in shares of RBC Bearings Incorporated (NYSE:RBC) by 21.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,003 shares of the industrial products company’s stock after purchasing an additional 540 shares during the quarter. Oak Thistle LLC’s holdings in RBC Bearings were worth $898,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Jane Street Group LLC increased its position in shares of RBC Bearings by 18.5% during the third quarter. Jane Street Group LLC now owns 16,536 shares of the industrial products company’s stock valued at $4,951,000 after acquiring an additional 2,584 shares in the last quarter. TimesSquare Capital Management LLC raised its stake in shares of RBC Bearings by 17.3% in the third quarter. TimesSquare Capital Management LLC now owns 90,605 shares of the industrial products company’s stock worth $27,125,000 after purchasing an additional 13,395 shares during the last quarter. Segall Bryant & Hamill LLC lifted its holdings in shares of RBC Bearings by 41.6% during the third quarter. Segall Bryant & Hamill LLC now owns 29,715 shares of the industrial products company’s stock valued at $8,896,000 after purchasing an additional 8,725 shares in the last quarter. Holocene Advisors LP boosted its position in shares of RBC Bearings by 69.4% during the third quarter. Holocene Advisors LP now owns 12,396 shares of the industrial products company’s stock valued at $3,711,000 after buying an additional 5,078 shares during the last quarter. Finally, State Street Corp increased its holdings in RBC Bearings by 2.4% in the 3rd quarter. State Street Corp now owns 845,175 shares of the industrial products company’s stock worth $253,028,000 after buying an additional 19,962 shares in the last quarter.

RBC Bearings Stock Up 0.5 %

Shares of RBC stock opened at $306.15 on Thursday. The company has a 50 day simple moving average of $317.58 and a two-hundred day simple moving average of $298.09. The stock has a market cap of $9.62 billion, a P/E ratio of 44.69, a P/E/G ratio of 4.50 and a beta of 1.57. RBC Bearings Incorporated has a 12 month low of $240.36 and a 12 month high of $346.77. The company has a current ratio of 3.48, a quick ratio of 1.28 and a debt-to-equity ratio of 0.38.

RBC Bearings (NYSE:RBC) last posted its quarterly earnings data on Friday, November 1st. The industrial products company reported $2.29 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.01). The company had revenue of $397.90 million during the quarter, compared to analysts’ expectations of $403.89 million. RBC Bearings had a return on equity of 9.88% and a net margin of 14.06%. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter last year, the company earned $2.07 earnings per share. On average, research analysts expect that RBC Bearings Incorporated will post 8.94 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RBC. Bank of America downgraded shares of RBC Bearings from a “buy” rating to a “neutral” rating and raised their price target for the company from $330.00 to $335.00 in a report on Thursday, November 21st. KeyCorp upgraded shares of RBC Bearings from a “sector weight” rating to an “overweight” rating and set a $375.00 target price on the stock in a report on Friday, November 22nd. Truist Financial boosted their target price on shares of RBC Bearings from $347.00 to $351.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, William Blair restated an “outperform” rating on shares of RBC Bearings in a research note on Tuesday, November 26th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $325.33.

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.