11,971 Shares in RBC Bearings Incorporated $RBC Acquired by Horizon Investments LLC

Horizon Investments LLC purchased a new position in shares of RBC Bearings Incorporated (NYSE:RBC) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 11,971 shares of the industrial products company’s stock, valued at approximately $5,368,000.

Several other hedge funds have also added to or reduced their stakes in RBC. Advisors Asset Management Inc. acquired a new stake in RBC Bearings during the 1st quarter worth approximately $26,000. Larson Financial Group LLC lifted its holdings in RBC Bearings by 148.5% during the 3rd quarter. Larson Financial Group LLC now owns 82 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 49 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in RBC Bearings during the 4th quarter worth approximately $35,000. Root Financial Partners LLC acquired a new stake in RBC Bearings during the 3rd quarter worth approximately $36,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in RBC Bearings by 123.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 96 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 53 shares during the last quarter.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on RBC. Truist Financial raised RBC Bearings to a “strong-buy” rating in a report on Friday. Morgan Stanley reaffirmed an “overweight” rating and issued a $600.00 price objective on shares of RBC Bearings in a report on Friday, February 6th. KeyCorp lifted their price objective on RBC Bearings from $595.00 to $680.00 and gave the company an “overweight” rating in a report on Monday, March 2nd. Zacks Research raised RBC Bearings from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 11th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $542.00 price objective on shares of RBC Bearings in a report on Monday, February 9th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $574.67.

RBC Bearings Trading Up 0.1%

Shares of RBC stock opened at $596.12 on Monday. The firm has a market capitalization of $18.85 billion, a P/E ratio of 70.13, a P/E/G ratio of 2.87 and a beta of 1.47. RBC Bearings Incorporated has a twelve month low of $337.43 and a twelve month high of $607.45. The company has a quick ratio of 0.67, a current ratio of 1.86 and a debt-to-equity ratio of 0.22. The stock’s fifty day simple moving average is $566.84 and its 200 day simple moving average is $499.41.

RBC Bearings (NYSE:RBC) last issued its quarterly earnings data 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 business had revenue of $461.60 million for the quarter, compared to analyst estimates of $460.69 million. RBC Bearings had a return on equity of 10.86% and a net margin of 15.00%.RBC Bearings’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.34 EPS. As a group, sell-side analysts predict that RBC Bearings Incorporated will post 11.43 EPS for the current fiscal year.

RBC Bearings Company 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.