Barclays PLC boosted its position in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 162.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,030 shares of the industrial products company's stock after acquiring an additional 13,010 shares during the period. Barclays PLC owned 0.07% of RBC Bearings worth $6,296,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. TimesSquare Capital Management LLC boosted its holdings in shares of RBC Bearings by 17.3% during the 3rd quarter. TimesSquare Capital Management LLC now owns 90,605 shares of the industrial products company's stock valued at $27,125,000 after purchasing an additional 13,395 shares during the last quarter. Segall Bryant & Hamill LLC lifted its position in shares of RBC Bearings by 41.6% in the third quarter. Segall Bryant & Hamill LLC now owns 29,715 shares of the industrial products company's stock worth $8,896,000 after buying an additional 8,725 shares in the last quarter. Holocene Advisors LP boosted its stake in RBC Bearings by 69.4% during the third quarter. Holocene Advisors LP now owns 12,396 shares of the industrial products company's stock valued at $3,711,000 after buying an additional 5,078 shares during the last quarter. Jane Street Group LLC grew its holdings in RBC Bearings by 18.5% during the 3rd quarter. Jane Street Group LLC now owns 16,536 shares of the industrial products company's stock valued at $4,951,000 after buying an additional 2,584 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new stake in RBC Bearings in the 2nd quarter worth approximately $2,380,000.
RBC Bearings Stock Performance
RBC Bearings stock traded down $3.92 during trading hours on Friday, hitting $306.28. 975,013 shares of the stock traded hands, compared to its average volume of 148,707. The firm's 50 day moving average price is $312.35 and its 200-day moving average price is $294.82. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.48 and a quick ratio of 1.28. The stock has a market capitalization of $9.62 billion, a price-to-earnings ratio of 44.71, a P/E/G ratio of 4.50 and a beta of 1.55. RBC Bearings Incorporated has a 1 year low of $240.36 and a 1 year high of $346.77.
RBC Bearings (NYSE:RBC - Get Free Report) last released its quarterly earnings data 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). 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 during the quarter, compared to analysts' expectations of $403.89 million. During the same period last year, the company earned $2.07 earnings per share. The firm's revenue was up 3.2% on a year-over-year basis. As a group, equities analysts expect that RBC Bearings Incorporated will post 8.94 EPS for the current fiscal year.
Analysts Set New Price Targets
Several research firms recently weighed in on RBC. Bank of America lowered RBC Bearings from a "buy" rating to a "neutral" rating and increased their price target for the company from $330.00 to $335.00 in a report on Thursday, November 21st. Truist Financial increased their target price on shares of RBC Bearings from $315.00 to $347.00 and gave the company a "buy" rating in a research note on Wednesday, November 20th. KeyCorp raised shares of 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. Finally, William Blair reissued an "outperform" rating on shares of RBC Bearings in a research report on Tuesday, November 26th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, RBC Bearings presently has a consensus rating of "Moderate Buy" and an average price target of $324.67.
Read Our Latest Analysis on RBC Bearings
RBC Bearings Profile
(
Free Report)
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.
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