Rockefeller Capital Management L.P. Purchases 3,226 Shares of RBC Bearings Incorporated $RBC

Rockefeller Capital Management L.P. boosted its holdings in RBC Bearings Incorporated (NYSE:RBC) by 7.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 48,359 shares of the industrial products company’s stock after buying an additional 3,226 shares during the period. Rockefeller Capital Management L.P.’s holdings in RBC Bearings were worth $21,686,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Lido Advisors LLC grew its position in shares of RBC Bearings by 3.5% during the fourth quarter. Lido Advisors LLC now owns 647 shares of the industrial products company’s stock worth $278,000 after purchasing an additional 22 shares in the last quarter. UMB Bank n.a. raised its stake in RBC Bearings by 7.1% during the 4th quarter. UMB Bank n.a. now owns 348 shares of the industrial products company’s stock valued at $156,000 after purchasing an additional 23 shares during the period. Assetmark Inc. lifted its holdings in RBC Bearings by 4.6% in the 3rd quarter. Assetmark Inc. now owns 563 shares of the industrial products company’s stock worth $220,000 after purchasing an additional 25 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in RBC Bearings by 27.1% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 122 shares of the industrial products company’s stock worth $48,000 after purchasing an additional 26 shares during the period. Finally, Allworth Financial LP grew its holdings in RBC Bearings by 12.1% during the 3rd quarter. Allworth Financial LP now owns 259 shares of the industrial products company’s stock valued at $101,000 after buying an additional 28 shares in the last quarter.

Analysts Set New Price Targets

Several equities analysts recently weighed in on RBC shares. Zacks Research cut shares of RBC Bearings from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 3rd. Truist Financial reiterated a “buy” rating and issued a $615.00 price target (up from $599.00) on shares of RBC Bearings in a research note on Tuesday, May 19th. Morgan Stanley increased their price objective on shares of RBC Bearings from $600.00 to $640.00 and gave the company an “overweight” rating in a report on Tuesday, May 19th. Wall Street Zen upgraded RBC Bearings from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. Finally, KeyCorp lifted their target price on RBC Bearings from $595.00 to $680.00 and gave the stock an “overweight” rating in a report on Monday, March 2nd. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $584.00.

RBC Bearings Trading Up 0.9%

RBC stock opened at $645.24 on Tuesday. RBC Bearings Incorporated has a twelve month low of $364.50 and a twelve month high of $646.17. The stock has a market capitalization of $20.42 billion, a price-to-earnings ratio of 70.98, a price-to-earnings-growth ratio of 3.69 and a beta of 1.42. The company has a quick ratio of 0.78, a current ratio of 2.18 and a debt-to-equity ratio of 0.21. The firm’s fifty day simple moving average is $594.29 and its two-hundred day simple moving average is $542.27.

RBC Bearings (NYSE:RBC) last released its earnings results on Friday, May 15th. The industrial products company reported $3.62 EPS for the quarter, beating analysts’ consensus estimates of $3.31 by $0.31. The firm had revenue of $518.00 million for the quarter, compared to analysts’ expectations of $505.90 million. RBC Bearings had a return on equity of 11.35% and a net margin of 15.37%.The company’s quarterly revenue was up 18.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.83 earnings per share. As a group, analysts anticipate that RBC Bearings Incorporated will post 13.58 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Edward Stewart sold 600 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $592.83, for a total transaction of $355,698.00. Following the transaction, the director owned 21,337 shares in the company, valued at approximately $12,649,213.71. This trade represents a 2.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 1.90% of the stock is currently owned by company insiders.

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.