Raymond James Financial Services Advisors Inc. Increases Holdings in RBC Bearings Incorporated (NYSE:RBC)

Raymond James Financial Services Advisors Inc. lifted its position in shares of RBC Bearings Incorporated (NYSE:RBC) by 16.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,890 shares of the industrial products company’s stock after acquiring an additional 265 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in RBC Bearings were worth $538,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of RBC. BlackRock Inc. acquired a new position in shares of RBC Bearings during the 1st quarter worth approximately $556,927,000. Price T Rowe Associates Inc. MD acquired a new position in shares of RBC Bearings during the 1st quarter worth approximately $483,093,000. Kayne Anderson Rudnick Investment Management LLC acquired a new position in shares of RBC Bearings during the 1st quarter worth approximately $481,554,000. JPMorgan Chase & Co. acquired a new position in shares of RBC Bearings during the 1st quarter worth approximately $139,246,000. Finally, Geode Capital Management LLC acquired a new position in shares of RBC Bearings during the 1st quarter worth approximately $127,316,000.

RBC Bearings Trading Down 1.5 %

RBC stock opened at $242.79 on Friday. The company has a market cap of $6.84 billion, a price-to-earnings ratio of 40.60, a PEG ratio of 4.77 and a beta of 1.45. The company has a quick ratio of 1.12, a current ratio of 3.28 and a debt-to-equity ratio of 0.47. The business has a fifty day simple moving average of $265.53 and a 200-day simple moving average of $258.10. RBC Bearings Incorporated has a 52 week low of $195.18 and a 52 week high of $288.16.

RBC Bearings (NYSE:RBC) last released its quarterly earnings data on Thursday, February 8th. The industrial products company reported $1.75 EPS for the quarter, missing analysts’ consensus estimates of $1.83 by ($0.08). The firm had revenue of $373.91 million for the quarter, compared to analyst estimates of $376.61 million. RBC Bearings had a return on equity of 9.64% and a net margin of 12.81%. On average, equities research analysts expect that RBC Bearings Incorporated will post 8.1 EPS for the current year.

Insider Transactions at RBC Bearings

In other news, COO Daniel A. Bergeron sold 15,000 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $267.22, for a total transaction of $4,008,300.00. Following the completion of the sale, the chief operating officer now directly owns 121,935 shares in the company, valued at approximately $32,583,470.70. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.90% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on RBC. Citigroup boosted their price target on RBC Bearings from $250.00 to $285.00 and gave the company a “neutral” rating in a report on Monday, February 12th. Truist Financial boosted their price target on RBC Bearings from $271.00 to $309.00 and gave the company a “buy” rating in a report on Wednesday, January 10th. Two equities 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $275.86.

RBC Bearings Profile

RBC Bearings Incorporated manufactures and markets engineered precision bearings and components 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.