Natixis Advisors LLC Sells 8,711 Shares of RBC Bearings Incorporated $RBC

Natixis Advisors LLC trimmed its stake in RBC Bearings Incorporated (NYSE:RBC) by 11.5% in the fourth quarter, Holdings Channel reports. The firm owned 66,710 shares of the industrial products company’s stock after selling 8,711 shares during the quarter. Natixis Advisors LLC’s holdings in RBC Bearings were worth $29,915,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. State Street Corp grew its stake in RBC Bearings by 0.5% in the third quarter. State Street Corp now owns 919,259 shares of the industrial products company’s stock valued at $358,778,000 after purchasing an additional 4,568 shares in the last quarter. Artisan Partners Limited Partnership grew its stake in RBC Bearings by 51.7% in the third quarter. Artisan Partners Limited Partnership now owns 619,592 shares of the industrial products company’s stock valued at $241,821,000 after purchasing an additional 211,093 shares in the last quarter. Geode Capital Management LLC grew its stake in RBC Bearings by 8.5% in the fourth quarter. Geode Capital Management LLC now owns 619,314 shares of the industrial products company’s stock valued at $277,776,000 after purchasing an additional 48,419 shares in the last quarter. Norges Bank bought a new position in shares of RBC Bearings during the 4th quarter worth approximately $175,909,000. Finally, Invesco Ltd. boosted its stake in shares of RBC Bearings by 60.5% during the 3rd quarter. Invesco Ltd. now owns 381,161 shares of the industrial products company’s stock worth $148,763,000 after acquiring an additional 143,710 shares during the period.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. KeyCorp lifted their target price on RBC Bearings from $595.00 to $680.00 and gave the stock an “overweight” rating in a research note on Monday, March 2nd. Weiss Ratings upgraded RBC Bearings from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, May 19th. Zacks Research upgraded RBC Bearings from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 11th. Wall Street Zen downgraded RBC Bearings from a “buy” rating to a “hold” rating in a research note on Sunday, April 12th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $542.00 target price on shares of RBC Bearings in a research note on Monday, February 9th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, RBC Bearings has a consensus rating of “Buy” and a consensus target price of $584.00.

RBC Bearings Stock Performance

Shares of NYSE RBC opened at $589.42 on Friday. The company has a current ratio of 2.18, a quick ratio of 0.78 and a debt-to-equity ratio of 0.21. RBC Bearings Incorporated has a 12 month low of $363.05 and a 12 month high of $632.00. The stock has a 50 day moving average of $580.01 and a 200-day moving average of $527.30. The company has a market capitalization of $18.65 billion, a P/E ratio of 64.84, a P/E/G ratio of 3.38 and a beta of 1.42.

RBC Bearings (NYSE:RBC) last released its quarterly earnings results on Friday, May 15th. The industrial products company reported $3.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.31 by $0.31. The business had revenue of $518.00 million during the quarter, compared to the consensus estimate of $505.90 million. RBC Bearings had a return on equity of 11.35% and a net margin of 15.37%.The firm’s quarterly revenue was up 18.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.83 EPS. As a group, equities research analysts predict that RBC Bearings Incorporated will post 13.58 EPS for the current 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.