Argent Capital Management LLC Has $1.35 Million Stock Position in RBC Bearings Incorporated (NYSE:RBC)

Argent Capital Management LLC increased its position in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 33.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,521 shares of the industrial products company's stock after acquiring an additional 1,123 shares during the period. Argent Capital Management LLC's holdings in RBC Bearings were worth $1,352,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Park Avenue Securities LLC grew its stake in shares of RBC Bearings by 33.6% in the 4th quarter. Park Avenue Securities LLC now owns 1,755 shares of the industrial products company's stock worth $525,000 after purchasing an additional 441 shares during the last quarter. Oak Thistle LLC grew its stake in shares of RBC Bearings by 21.9% in the 4th quarter. Oak Thistle LLC now owns 3,003 shares of the industrial products company's stock worth $898,000 after purchasing an additional 540 shares during the last quarter. PFW Advisors LLC acquired a new position in shares of RBC Bearings in the 4th quarter worth approximately $374,000. Douglas Lane & Associates LLC grew its stake in shares of RBC Bearings by 17.0% in the 4th quarter. Douglas Lane & Associates LLC now owns 147,452 shares of the industrial products company's stock worth $44,109,000 after purchasing an additional 21,379 shares during the last quarter. Finally, Everence Capital Management Inc. acquired a new position in shares of RBC Bearings in the 4th quarter worth approximately $296,000.

RBC Bearings Stock Performance

RBC traded up $3.68 during trading on Thursday, reaching $309.56. 84,692 shares of the company's stock were exchanged, compared to its average volume of 95,806. RBC Bearings Incorporated has a fifty-two week low of $240.36 and a fifty-two week high of $346.77. The company has a quick ratio of 1.28, a current ratio of 3.48 and a debt-to-equity ratio of 0.38. The business has a 50 day moving average price of $317.37 and a 200 day moving average price of $298.15. The company has a market capitalization of $9.72 billion, a P/E ratio of 45.19, a PEG ratio of 4.04 and a beta of 1.57.

RBC Bearings (NYSE:RBC - Get Free Report) last issued its earnings results on Friday, November 1st. The industrial products company reported $2.29 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.01). The firm had revenue of $397.90 million during the quarter, compared to analyst estimates of $403.89 million. RBC Bearings had a net margin of 14.06% and a return on equity of 9.88%. The firm's revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.07 EPS. As a group, analysts predict that RBC Bearings Incorporated will post 8.94 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. KeyCorp upgraded shares of RBC Bearings from a "sector weight" rating to an "overweight" rating and set a $375.00 target price for the company in a report on Friday, November 22nd. Truist Financial raised their target price on shares of RBC Bearings from $347.00 to $351.00 and gave the stock a "buy" rating in a report on Tuesday. Bank of America cut shares of RBC Bearings from a "buy" rating to a "neutral" rating and raised their target price for the stock from $330.00 to $335.00 in a report on Thursday, November 21st. Finally, William Blair reiterated an "outperform" rating on shares of RBC Bearings in a report on Tuesday, November 26th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $325.33.

RBC Bearings Profile

RBC Bearings Incorporated manufactures and markets engineered precision bearings, components, and systems in the United States and internationally. It operates through two segments, Aerospace/Defense and Industrial. The company produces plain bearings with self-lubricating or metal-to-metal designs, including rod end bearings, spherical plain bearings, and journal bearings; roller bearings, such as tapered roller bearings, needle roller bearings, and needle bearing track rollers and cam followers, which are anti-friction products that are used in industrial applications and military aircraft platforms; and ball bearings include high precision aerospace, airframe control, thin section, and industrial ball bearings that utilize high precision ball elements to reduce friction in high-speed applications.