RBC Bearings Incorporated $RBC Shares Acquired by Snyder Capital Management L P

Snyder Capital Management L P increased its position in shares of RBC Bearings Incorporated (NYSE:RBC) by 13.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 326,241 shares of the industrial products company’s stock after acquiring an additional 38,456 shares during the period. RBC Bearings makes up about 2.4% of Snyder Capital Management L P’s investment portfolio, making the stock its 14th largest position. Snyder Capital Management L P owned approximately 1.03% of RBC Bearings worth $127,329,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Advisors Asset Management Inc. acquired a new stake in RBC Bearings during the first quarter valued at approximately $26,000. Root Financial Partners LLC acquired a new stake in shares of RBC Bearings during the third quarter worth $36,000. Hantz Financial Services Inc. lifted its holdings in shares of RBC Bearings by 1,257.1% during the second quarter. Hantz Financial Services Inc. now owns 95 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 88 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of RBC Bearings by 123.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 96 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 53 shares during the period. Finally, Quent Capital LLC acquired a new stake in RBC Bearings during the 3rd quarter worth about $38,000.

RBC Bearings Trading Up 0.3%

RBC Bearings stock opened at $570.04 on Thursday. RBC Bearings Incorporated has a one year low of $297.28 and a one year high of $589.16. The company’s fifty day moving average price is $515.07 and its two-hundred day moving average price is $446.71. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.86 and a quick ratio of 0.67. The company has a market capitalization of $18.02 billion, a price-to-earnings ratio of 67.06, a PEG ratio of 3.20 and a beta of 1.47.

RBC Bearings (NYSE:RBC) last announced its quarterly earnings results on Thursday, February 5th. The industrial products company reported $3.04 earnings per share for the quarter, topping analysts’ consensus estimates of $2.83 by $0.21. The company had revenue of $461.60 million during the quarter, compared to analysts’ expectations of $460.69 million. RBC Bearings had a return on equity of 10.86% and a net margin of 15.00%.The business’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.34 earnings per share. On average, analysts forecast that RBC Bearings Incorporated will post 9.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on RBC shares. Truist Financial boosted their price target on shares of RBC Bearings from $542.00 to $599.00 and gave the company a “buy” rating in a report on Friday, February 6th. Bank of America raised RBC Bearings from a “neutral” rating to a “buy” rating and raised their target price for the stock from $390.00 to $500.00 in a research report on Thursday, November 6th. Morgan Stanley reissued an “overweight” rating and issued a $600.00 price objective on shares of RBC Bearings in a research note on Friday, February 6th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of RBC Bearings in a research note on Monday, December 22nd. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $542.00 price target on shares of RBC Bearings in a report on Monday, February 9th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $574.67.

RBC Bearings Profile

RBC Bearings Incorporated is a global designer, manufacturer and marketer of highly engineered precision bearings and components for extreme applications. The company’s product portfolio includes cylindrical roller bearings, spherical plain bearings, ball bearings, track rollers, and engineered components such as metal-to-metal and polymer bearings. These products are tailored to meet the demanding requirements of aerospace, defense and industrial customers where reliability under severe conditions is critical.

The company’s bearings and components find application in aircraft engines, auxiliary power units, landing gear systems, space and missile programs, industrial gas turbines, oil and gas drilling equipment, and heavy machinery.