RBC Bearings Incorporated $RBC Stock Position Lowered by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC cut its stake in shares of RBC Bearings Incorporated (NYSE:RBC) by 4.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 113,047 shares of the industrial products company’s stock after selling 5,756 shares during the period. Douglas Lane & Associates LLC owned 0.36% of RBC Bearings worth $56,436,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. First Trust Advisors LP lifted its stake in RBC Bearings by 27.5% in the 1st quarter. First Trust Advisors LP now owns 409,700 shares of the industrial products company’s stock worth $222,516,000 after purchasing an additional 88,468 shares in the last quarter. Maren Capital LLC increased its holdings in shares of RBC Bearings by 1.4% in the fourth quarter. Maren Capital LLC now owns 450,314 shares of the industrial products company’s stock worth $201,934,000 after purchasing an additional 6,373 shares during the period. Franklin Resources Inc. raised its position in shares of RBC Bearings by 0.7% in the fourth quarter. Franklin Resources Inc. now owns 322,482 shares of the industrial products company’s stock worth $144,611,000 after buying an additional 2,288 shares in the last quarter. Blair William & Co. IL raised its position in shares of RBC Bearings by 4.4% in the fourth quarter. Blair William & Co. IL now owns 222,235 shares of the industrial products company’s stock worth $99,657,000 after buying an additional 9,331 shares in the last quarter. Finally, Gotham Asset Management LLC boosted its stake in RBC Bearings by 14.4% during the fourth quarter. Gotham Asset Management LLC now owns 117,141 shares of the industrial products company’s stock valued at $52,530,000 after buying an additional 14,703 shares during the period.

RBC Bearings Trading Up 3.4%

NYSE RBC traded up $16.66 during trading on Friday, hitting $507.65. The company had a trading volume of 90,038 shares, compared to its average volume of 238,792. RBC Bearings Incorporated has a one year low of $364.50 and a one year high of $667.69. The company has a current ratio of 2.53, a quick ratio of 0.98 and a debt-to-equity ratio of 0.21. The company’s fifty day moving average is $514.21 and its 200-day moving average is $562.94. The company has a market cap of $16.07 billion, a price-to-earnings ratio of 50.17, a price-to-earnings-growth ratio of 2.70 and a beta of 1.38.

RBC Bearings (NYSE:RBC) last released its quarterly earnings results on Friday, July 31st. The industrial products company reported $3.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.42 by $0.46. RBC Bearings had a net margin of 16.40% and a return on equity of 12.06%. The company had revenue of $519.50 million during the quarter, compared to the consensus estimate of $508.92 million. During the same period in the prior year, the firm earned $2.84 earnings per share. RBC Bearings’s revenue was up 19.2% on a year-over-year basis. On average, sell-side analysts predict that RBC Bearings Incorporated will post 14.03 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Raymond James Financial upgraded RBC Bearings from a “market perform” rating to an “outperform” rating and set a $645.00 target price for the company in a research report on Monday, August 3rd. Truist Financial boosted their price objective on RBC Bearings from $615.00 to $646.00 and gave the stock a “buy” rating in a report on Tuesday, August 4th. Guggenheim began coverage on shares of RBC Bearings in a report on Monday, September 14th. They issued a “buy” rating and a $600.00 price target on the stock. Weiss Ratings cut RBC Bearings from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, August 27th. Finally, Royal Bank Of Canada set a $600.00 price target on RBC Bearings in a research report on Monday, September 14th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $615.44.

About RBC Bearings

RBC Bearings Incorporated designs and manufactures highly engineered bearings and related components for demanding aerospace, defense and industrial applications. Its products are used in systems that require precision, reliability and resistance to extreme operating conditions.

The company’s product portfolio includes plain bearings, roller bearings, ball bearings, rod ends, spherical bearings, precision components and other motion-control products. These products support applications such as aircraft structures and flight controls, aircraft engines, landing systems, space systems, military equipment, construction machinery, energy equipment and other industrial systems.

Founded in 1919, RBC Bearings serves original equipment manufacturers and aftermarket customers through operations and sales channels in North America, Europe and Asia.