RBC Bearings Incorporated $RBC Stock Bought by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. increased its position in shares of RBC Bearings Incorporated (NYSE:RBC) by 1,933.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,780 shares of the industrial products company’s stock after purchasing an additional 9,299 shares during the quarter. Jefferies Financial Group Inc.’s holdings in RBC Bearings were worth $4,882,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Assetmark Inc. grew its holdings in RBC Bearings by 3.5% during the 1st quarter. Assetmark Inc. now owns 557 shares of the industrial products company’s stock valued at $303,000 after buying an additional 19 shares during the last quarter. Net Worth Advisory Group lifted its stake in shares of RBC Bearings by 4.5% during the third quarter. Net Worth Advisory Group now owns 552 shares of the industrial products company’s stock valued at $281,000 after buying an additional 24 shares during the period. Oregon Public Employees Retirement Fund lifted its stake in shares of RBC Bearings by 0.4% during the third quarter. Oregon Public Employees Retirement Fund now owns 6,540 shares of the industrial products company’s stock valued at $3,265,000 after buying an additional 28 shares during the period. Ethic Inc. boosted its position in RBC Bearings by 7.1% during the third quarter. Ethic Inc. now owns 439 shares of the industrial products company’s stock worth $219,000 after acquiring an additional 29 shares during the last quarter. Finally, Clear Wave Wealth Management LLC boosted its position in RBC Bearings by 7.2% during the third quarter. Clear Wave Wealth Management LLC now owns 448 shares of the industrial products company’s stock worth $224,000 after acquiring an additional 30 shares during the last quarter.

RBC Bearings Trading Down 1.1%

Shares of RBC opened at $488.98 on Friday. The stock’s 50-day moving average is $493.24 and its two-hundred day moving average is $550.50. The stock has a market cap of $15.48 billion, a PE ratio of 43.74, a P/E/G ratio of 2.37 and a beta of 1.39. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.13 and a quick ratio of 1.16. RBC Bearings Incorporated has a 12 month low of $418.05 and a 12 month high of $667.69.

RBC Bearings (NYSE:RBC) last issued its quarterly earnings data on Friday, October 30th. The industrial products company reported $3.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.53 by $0.21. The company had revenue of $524.60 million during the quarter, compared to the consensus estimate of $513.95 million. RBC Bearings had a net margin of 17.51% and a return on equity of 12.50%. RBC Bearings’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter last year, the company earned $2.88 earnings per share. Equities analysts forecast that RBC Bearings Incorporated will post 14.14 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Deutsche Bank reissued a “buy” rating and set a $686.00 price target on shares of RBC Bearings in a research note on Tuesday, August 4th. Guggenheim initiated coverage on RBC Bearings in a research report on Monday, September 14th. They issued a “buy” rating and a $600.00 price objective for the company. Royal Bank Of Canada set a $600.00 target price on RBC Bearings in a research note on Monday, September 14th. Wall Street Zen downgraded RBC Bearings from a “buy” rating to a “hold” rating in a research report on Saturday, August 22nd. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $530.00 target price on shares of RBC Bearings in a research report on Monday, November 2nd. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $623.38.

RBC Bearings Company Profile

RBC Bearings Incorporated designs and manufactures precision bearings and other engineered components for aerospace, defense and industrial applications. Its products include plain, roller and ball bearings, spherical bearings, rod ends and related motion-control components. The company’s products are used in aircraft and defense systems as well as equipment across industries such as construction, energy, transportation and automation. RBC Bearings serves customers worldwide. The company traces its roots to 1919 and has grown through product development and acquisitions.