Global Retirement Partners LLC Raises Position in RBC Bearings Incorporated $RBC

Global Retirement Partners LLC raised its stake in RBC Bearings Incorporated (NYSE:RBC) by 344.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,223 shares of the industrial products company’s stock after purchasing an additional 948 shares during the quarter. Global Retirement Partners LLC’s holdings in RBC Bearings were worth $548,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of RBC. Advisors Asset Management Inc. purchased a new stake in shares of RBC Bearings during the first quarter valued at approximately $26,000. AQR Capital Management LLC boosted its holdings in shares of RBC Bearings by 27.8% in the first quarter. AQR Capital Management LLC now owns 1,297 shares of the industrial products company’s stock worth $417,000 after acquiring an additional 282 shares during the period. Integrated Wealth Concepts LLC boosted its holdings in shares of RBC Bearings by 32.7% in the first quarter. Integrated Wealth Concepts LLC now owns 1,229 shares of the industrial products company’s stock worth $395,000 after acquiring an additional 303 shares during the period. Jones Financial Companies Lllp boosted its stake in RBC Bearings by 64.1% during the first quarter. Jones Financial Companies Lllp now owns 1,111 shares of the industrial products company’s stock valued at $357,000 after buying an additional 434 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in RBC Bearings by 2.0% during the first quarter. Goldman Sachs Group Inc. now owns 211,744 shares of the industrial products company’s stock valued at $68,133,000 after buying an additional 4,253 shares during the period.

RBC Bearings Stock Performance

Shares of RBC opened at $578.86 on Thursday. The stock has a market cap of $18.32 billion, a P/E ratio of 63.68, a P/E/G ratio of 3.36 and a beta of 1.47. RBC Bearings Incorporated has a 52 week low of $355.47 and a 52 week high of $632.00. 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 business’s 50 day moving average price is $575.69 and its 200-day moving average price is $521.36.

RBC Bearings (NYSE:RBC) last issued its earnings results 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. RBC Bearings had a return on equity of 11.35% and a net margin of 15.37%.The business had revenue of $518.00 million for the quarter, compared to the consensus estimate of $505.90 million. During the same period last year, the business posted $2.83 EPS. The company’s revenue was up 18.3% compared to the same quarter last year. Equities research analysts anticipate that RBC Bearings Incorporated will post 13.64 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

RBC has been the subject of several research analyst reports. The Goldman Sachs Group reissued a “neutral” rating and set a $542.00 price objective on shares of RBC Bearings in a research note on Monday, February 9th. Truist Financial reissued a “buy” rating and issued a $615.00 target price (up from $599.00) on shares of RBC Bearings in a research note on Tuesday, May 19th. Wall Street Zen downgraded RBC Bearings from a “buy” rating to a “hold” rating in a report on Sunday, April 12th. Morgan Stanley boosted their price target on RBC Bearings from $600.00 to $640.00 and gave the company an “overweight” rating in a report on Tuesday, May 19th. Finally, KeyCorp lifted their price objective on RBC Bearings from $595.00 to $680.00 and gave the company an “overweight” rating in a research report on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $584.00.

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.