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

Oak Thistle LLC increased its position in RBC Bearings Incorporated (NYSE:RBC) by 21.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,003 shares of the industrial products company’s stock after buying 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 reporting period.

A number of other institutional investors have also bought and sold shares of the business. UMB Bank n.a. boosted its stake in shares of RBC Bearings by 416.7% in the third quarter. UMB Bank n.a. now owns 93 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 75 shares during the period. Canada Pension Plan Investment Board bought a new position in RBC Bearings in the 2nd quarter worth approximately $54,000. Benjamin F. Edwards & Company Inc. grew its holdings in RBC Bearings by 80.1% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 290 shares of the industrial products company’s stock valued at $78,000 after buying an additional 129 shares in the last quarter. Blue Trust Inc. raised its position in shares of RBC Bearings by 541.9% during the third quarter. Blue Trust Inc. now owns 276 shares of the industrial products company’s stock valued at $83,000 after buying an additional 233 shares during the last quarter. Finally, Quarry LP lifted its holdings in shares of RBC Bearings by 1,003.7% in the third quarter. Quarry LP now owns 298 shares of the industrial products company’s stock worth $89,000 after buying an additional 271 shares in the last quarter.

RBC Bearings Stock Up 0.5 %

Shares of NYSE RBC opened at $306.15 on Thursday. The stock has a market capitalization of $9.62 billion, a price-to-earnings 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. The firm’s 50-day moving average price is $317.58 and its 200-day moving average price is $298.09.

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

Analysts Set New Price Targets

Several equities analysts recently weighed in on RBC shares. KeyCorp raised shares of RBC Bearings from a “sector weight” rating to an “overweight” rating and set a $375.00 target price for the company in a research note on Friday, November 22nd. William Blair reaffirmed an “outperform” rating on shares of RBC Bearings in a report on Tuesday, November 26th. Bank of America lowered RBC Bearings from a “buy” rating to a “neutral” rating and increased their price target for the company from $330.00 to $335.00 in a research note on Thursday, November 21st. Finally, Truist Financial lifted their price objective on RBC Bearings from $347.00 to $351.00 and gave the stock a “buy” rating in a research note on Tuesday. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $325.33.

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.