Bridge City Capital LLC Lowers Position in RBC Bearings Incorporated $RBC

Bridge City Capital LLC cut its holdings in RBC Bearings Incorporated (NYSE:RBC) by 8.9% during the 4th quarter, Holdings Channel reports. The fund owned 17,337 shares of the industrial products company’s stock after selling 1,688 shares during the period. RBC Bearings comprises 2.3% of Bridge City Capital LLC’s portfolio, making the stock its 4th biggest holding. Bridge City Capital LLC’s holdings in RBC Bearings were worth $7,774,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Lido Advisors LLC raised its position in RBC Bearings by 3.5% in the fourth quarter. Lido Advisors LLC now owns 647 shares of the industrial products company’s stock worth $278,000 after acquiring an additional 22 shares during the period. UMB Bank n.a. raised its position in RBC Bearings by 7.1% in the fourth quarter. UMB Bank n.a. now owns 348 shares of the industrial products company’s stock worth $156,000 after acquiring an additional 23 shares during the period. Assetmark Inc. raised its position in RBC Bearings by 4.6% in the third quarter. Assetmark Inc. now owns 563 shares of the industrial products company’s stock worth $220,000 after acquiring an additional 25 shares during the period. Jones Financial Companies Lllp raised its position in RBC Bearings by 2.7% in the third quarter. Jones Financial Companies Lllp now owns 994 shares of the industrial products company’s stock worth $383,000 after acquiring an additional 26 shares during the period. Finally, EverSource Wealth Advisors LLC raised its position in RBC Bearings by 27.1% in the third quarter. EverSource Wealth Advisors LLC now owns 122 shares of the industrial products company’s stock worth $48,000 after acquiring an additional 26 shares during the period.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. KeyCorp increased their price target on shares of RBC Bearings from $595.00 to $680.00 and gave the stock an “overweight” rating in a research report on Monday, March 2nd. Wall Street Zen upgraded shares of RBC Bearings from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. Weiss Ratings upgraded shares of RBC Bearings from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, May 19th. 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 report on Tuesday, May 19th. Finally, Zacks Research downgraded shares of RBC Bearings from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 3rd. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $584.00.

Insiders Place Their Bets

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

RBC Bearings Stock Down 0.7%

Shares of RBC stock opened at $603.22 on Friday. The company has a market capitalization of $19.09 billion, a price-to-earnings ratio of 66.36, a PEG ratio of 3.49 and a beta of 1.42. RBC Bearings Incorporated has a one year low of $363.05 and a one year high of $632.00. The company’s fifty day moving average price is $586.12 and its 200-day moving average price is $533.61. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.18 and a quick ratio of 0.78.

RBC Bearings (NYSE:RBC) last announced its quarterly earnings data on Friday, May 15th. The industrial products company reported $3.62 EPS for the quarter, beating the consensus estimate of $3.31 by $0.31. The firm had revenue of $518.00 million for the quarter, compared to the consensus estimate of $505.90 million. RBC Bearings had a net margin of 15.37% and a return on equity of 11.35%. The company’s revenue was up 18.3% on a year-over-year basis. During the same period last year, the firm earned $2.83 EPS. Sell-side analysts expect that RBC Bearings Incorporated will post 13.58 EPS for the current fiscal year.

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.