Crossmark Global Holdings Inc. Sells 1,009 Shares of RBC Bearings Incorporated (NYSE:RBC)

Crossmark Global Holdings Inc. lessened its holdings in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 44.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,271 shares of the industrial products company's stock after selling 1,009 shares during the period. Crossmark Global Holdings Inc.'s holdings in RBC Bearings were worth $381,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in RBC. Hsbc Holdings PLC bought a new stake in RBC Bearings during the second quarter worth about $607,000. Canada Pension Plan Investment Board bought a new stake in shares of RBC Bearings during the 2nd quarter worth approximately $54,000. Marshall Wace LLP acquired a new stake in shares of RBC Bearings during the 2nd quarter worth approximately $244,000. Cubist Systematic Strategies LLC increased its stake in RBC Bearings by 219.9% in the second quarter. Cubist Systematic Strategies LLC now owns 5,755 shares of the industrial products company's stock valued at $1,553,000 after acquiring an additional 3,956 shares during the last quarter. Finally, Squarepoint Ops LLC raised its position in RBC Bearings by 453.2% during the second quarter. Squarepoint Ops LLC now owns 24,103 shares of the industrial products company's stock valued at $6,503,000 after purchasing an additional 19,746 shares in the last quarter.

Analyst Ratings Changes

RBC has been the topic of a number of research analyst reports. William Blair reaffirmed an "outperform" rating on shares of RBC Bearings in a report on Tuesday, November 26th. KeyCorp raised RBC Bearings from a "sector weight" rating to an "overweight" rating and set a $375.00 price objective on the stock in a research note on Friday, November 22nd. Bank of America downgraded RBC Bearings from a "buy" rating to a "neutral" rating and boosted their target price for the stock from $330.00 to $335.00 in a research note on Thursday, November 21st. Finally, Truist Financial upped their price objective on shares of RBC Bearings from $347.00 to $351.00 and gave the stock a "buy" rating in a research report on Tuesday, January 14th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, RBC Bearings has a consensus rating of "Moderate Buy" and a consensus price target of $325.33.

RBC Bearings Trading Down 0.1 %

Shares of RBC Bearings stock traded down $0.42 on Monday, hitting $313.81. The stock had a trading volume of 105,613 shares, compared to its average volume of 120,255. The stock has a 50 day moving average of $317.15 and a 200 day moving average of $300.52. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.28 and a current ratio of 3.48. RBC Bearings Incorporated has a twelve month low of $240.36 and a twelve month high of $346.77. The firm has a market capitalization of $9.86 billion, a P/E ratio of 45.81, a PEG ratio of 4.45 and a beta of 1.57.

RBC Bearings (NYSE:RBC - Get Free Report) last released its quarterly earnings results on Friday, November 1st. The industrial products company reported $2.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.01). RBC Bearings had a net margin of 14.06% and a return on equity of 9.88%. The business had revenue of $397.90 million for the quarter, compared to the consensus estimate of $403.89 million. During the same period in the previous year, the business posted $2.07 EPS. RBC Bearings's revenue was up 3.2% on a year-over-year basis. Sell-side analysts expect that RBC Bearings Incorporated will post 8.91 earnings per share for the current fiscal year.

About RBC Bearings

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.