1,313 Shares of RBC Bearings Incorporated $RBC Acquired by NBT Bank N.A.

NBT Bank N.A. purchased a new stake in RBC Bearings Incorporated (NYSE:RBC) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,313 shares of the industrial products company’s stock, valued at approximately $655,000.

Other large investors have also recently bought and sold shares of the company. Western Wealth Management LLC acquired a new stake in RBC Bearings during the first quarter worth approximately $27,000. Toth Financial Advisory Corp acquired a new position in shares of RBC Bearings in the third quarter valued at approximately $25,000. Millstone Evans Group LLC grew its position in shares of RBC Bearings by 45.3% in the first quarter. Millstone Evans Group LLC now owns 77 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 24 shares during the last quarter. Basecamp Wealth Advisors LLC grew its position in shares of RBC Bearings by 49.3% in the first quarter. Basecamp Wealth Advisors LLC now owns 103 shares of the industrial products company’s stock valued at $56,000 after purchasing an additional 34 shares during the last quarter. Finally, Ashurst Perkins Coie Trust Co bought a new position in shares of RBC Bearings during the third quarter worth approximately $63,000.

Analyst Ratings Changes

Several analysts recently weighed in on RBC shares. Guggenheim initiated coverage on RBC Bearings in a report on Monday, September 14th. They set a “buy” rating and a $600.00 price target for the company. Weiss Ratings lowered RBC Bearings from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, August 27th. Truist Financial increased their price objective on RBC Bearings from $615.00 to $646.00 and gave the stock a “buy” rating in a research report on Tuesday, August 4th. Wall Street Zen cut shares of RBC Bearings from a “buy” rating to a “hold” rating in a research report on Saturday, August 22nd. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $686.00 price target on shares of RBC Bearings in a research note on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, RBC Bearings presently has an average rating of “Moderate Buy” and an average target price of $615.44.

RBC Bearings Trading Down 1.5%

Shares of RBC stock opened at $470.84 on Friday. 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 stock has a market cap of $14.91 billion, a P/E ratio of 46.53, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. The stock has a 50 day simple moving average of $500.26 and a 200 day simple moving average of $559.19. RBC Bearings Incorporated has a 1 year low of $401.90 and a 1 year high of $667.69.

RBC Bearings (NYSE:RBC) last issued 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 return on equity of 12.06% and a net margin of 16.40%. The business had revenue of $519.50 million for the quarter, compared to the consensus estimate of $508.92 million. During the same quarter in the prior year, the business posted $2.84 earnings per share. The firm’s quarterly revenue was up 19.2% compared to the same quarter last year. On average, research analysts predict that RBC Bearings Incorporated will post 14.03 earnings per share for the current fiscal year.

RBC Bearings Company Profile

RBC Bearings Incorporated is a manufacturer of highly engineered bearing and motion-control products. Founded in 1919 and headquartered in Oxford, Connecticut, the company serves original equipment manufacturers and aftermarket customers that require components designed for demanding operating environments.

Its product portfolio includes plain bearings, roller bearings, ball bearings, rod ends, spherical bearings, thrust bearings, and related precision components. These products are used in applications involving load support, friction reduction, positioning, and motion control across aerospace and defense, industrial equipment, construction, transportation, energy, and other specialized markets.

RBC Bearings sells its products through a combination of direct sales, distributors, and customer-specific manufacturing programs.