Douglas Lane & Associates LLC Acquires 21,379 Shares of RBC Bearings Incorporated (NYSE:RBC)

Douglas Lane & Associates LLC boosted its holdings in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 17.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 147,452 shares of the industrial products company's stock after buying an additional 21,379 shares during the quarter. Douglas Lane & Associates LLC owned approximately 0.47% of RBC Bearings worth $44,109,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. UMB Bank n.a. grew its position in shares of RBC Bearings by 416.7% during the 3rd quarter. UMB Bank n.a. now owns 93 shares of the industrial products company's stock valued at $28,000 after acquiring an additional 75 shares during the period. Canada Pension Plan Investment Board bought a new stake in RBC Bearings during the second quarter valued at about $54,000. Strategic Financial Concepts LLC purchased a new stake in RBC Bearings in the second quarter worth about $68,000. Benjamin F. Edwards & Company Inc. raised its stake in shares of RBC Bearings by 80.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 290 shares of the industrial products company's stock worth $78,000 after buying an additional 129 shares during the period. Finally, Blue Trust Inc. lifted its position in shares of RBC Bearings by 541.9% during the 3rd quarter. Blue Trust Inc. now owns 276 shares of the industrial products company's stock valued at $83,000 after buying an additional 233 shares in the last quarter.

RBC Bearings Price Performance

NYSE RBC traded up $0.60 on Wednesday, reaching $298.03. The company had a trading volume of 83,801 shares, compared to its average volume of 100,120. The stock has a market capitalization of $9.36 billion, a PE ratio of 43.51, a price-to-earnings-growth ratio of 4.50 and a beta of 1.57. RBC Bearings Incorporated has a 12 month low of $240.36 and a 12 month 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 firm's 50 day moving average price is $316.43 and its 200 day moving average price is $297.14.

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

Analyst Upgrades and Downgrades

Several research firms recently issued reports on RBC. Truist Financial increased their target price on shares of RBC Bearings from $315.00 to $347.00 and gave the stock a "buy" rating in a report on Wednesday, November 20th. William Blair reissued an "outperform" rating on shares of RBC Bearings in a research note on Tuesday, November 26th. Bank of America cut shares of RBC Bearings from a "buy" rating to a "neutral" rating and lifted their target price for the company from $330.00 to $335.00 in a research note on Thursday, November 21st. Finally, KeyCorp upgraded RBC Bearings from a "sector weight" rating to an "overweight" rating and set a $375.00 price target for the company in a research note on Friday, November 22nd. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $324.67.

RBC Bearings Company 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.