EULAV Asset Management Raises Holdings in RBC Bearings Incorporated $RBC

EULAV Asset Management increased its stake in shares of RBC Bearings Incorporated (NYSE:RBC) by 20.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 78,600 shares of the industrial products company’s stock after acquiring an additional 13,400 shares during the quarter. EULAV Asset Management’s holdings in RBC Bearings were worth $30,677,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Machina Capital S.A.S. bought a new stake in RBC Bearings during the 2nd quarter valued at $352,000. HB Wealth Management LLC bought a new stake in RBC Bearings in the 2nd quarter worth $237,000. Frontier Capital Management Co. LLC purchased a new position in shares of RBC Bearings in the second quarter valued at about $39,818,000. Baker Ellis Asset Management LLC purchased a new position in shares of RBC Bearings in the third quarter valued at about $450,000. Finally, Dakota Wealth Management bought a new position in shares of RBC Bearings during the second quarter valued at about $628,000.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Truist Financial set a $542.00 target price on RBC Bearings in a research note on Friday, January 9th. Zacks Research cut RBC Bearings from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Bank of America raised RBC Bearings from a “neutral” rating to a “buy” rating and boosted their target price for the company from $390.00 to $500.00 in a research note on Thursday, November 6th. Deutsche Bank Aktiengesellschaft set a $527.00 price target on RBC Bearings and gave the stock a “buy” rating in a research note on Wednesday, December 17th. Finally, KeyCorp boosted their price objective on shares of RBC Bearings from $475.00 to $535.00 and gave the company an “overweight” rating in a research report on Tuesday, January 6th. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $489.17.

Insider Buying and Selling at RBC Bearings

In related news, Director Steven H. Kaplan sold 700 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $443.00, for a total transaction of $310,100.00. Following the completion of the transaction, the director owned 1,999 shares of the company’s stock, valued at $885,557. This trade represents a 25.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.90% of the stock is owned by insiders.

RBC Bearings Stock Performance

Shares of RBC Bearings stock opened at $496.80 on Friday. RBC Bearings Incorporated has a 12 month low of $297.28 and a 12 month high of $502.34. The firm has a market capitalization of $15.70 billion, a P/E ratio of 60.66, a P/E/G ratio of 3.28 and a beta of 1.53. The company has a current ratio of 3.18, a quick ratio of 1.13 and a debt-to-equity ratio of 0.34. The business has a fifty day simple moving average of $451.65 and a two-hundred day simple moving average of $412.05.

RBC Bearings (NYSE:RBC) last issued its quarterly earnings results on Friday, October 31st. The industrial products company reported $2.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.73 by $0.15. RBC Bearings had a net margin of 15.03% and a return on equity of 10.47%. The company had revenue of $455.30 million during the quarter, compared to analyst estimates of $450.27 million. During the same period last year, the business earned $2.29 EPS. RBC Bearings’s quarterly revenue was up 14.4% compared to the same quarter last year. On average, equities analysts forecast that RBC Bearings Incorporated will post 9.16 earnings per share for the current fiscal year.

RBC Bearings Company 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.