Quantbot Technologies LP Takes Position in RBC Bearings Incorporated $RBC

Quantbot Technologies LP bought a new stake in shares of RBC Bearings Incorporated (NYSE:RBC) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 12,134 shares of the industrial products company’s stock, valued at approximately $4,736,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Assetmark Inc. lifted its stake in RBC Bearings by 4.6% during the 3rd quarter. Assetmark Inc. now owns 563 shares of the industrial products company’s stock valued at $220,000 after acquiring an additional 25 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in RBC Bearings by 2.7% during the third quarter. Jones Financial Companies Lllp now owns 994 shares of the industrial products company’s stock worth $383,000 after acquiring an additional 26 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of RBC Bearings by 27.1% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 122 shares of the industrial products company’s stock worth $48,000 after purchasing an additional 26 shares during the period. State of New Jersey Common Pension Fund D boosted its holdings in shares of RBC Bearings by 0.3% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 10,070 shares of the industrial products company’s stock worth $3,930,000 after buying an additional 27 shares during the last quarter. Finally, Brown Advisory Inc. grew its position in RBC Bearings by 4.7% during the second quarter. Brown Advisory Inc. now owns 685 shares of the industrial products company’s stock valued at $264,000 after buying an additional 31 shares during the period.

RBC Bearings Stock Down 0.1%

RBC opened at $575.67 on Monday. The company has a fifty day moving average price of $508.11 and a 200-day moving average price of $443.34. The firm has a market capitalization of $18.20 billion, a P/E ratio of 67.73, a price-to-earnings-growth ratio of 3.24 and a beta of 1.47. RBC Bearings Incorporated has a one year low of $297.28 and a one year high of $581.87. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.86 and a quick ratio of 0.67.

RBC Bearings (NYSE:RBC) last announced its quarterly earnings data on Thursday, February 5th. The industrial products company reported $3.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.83 by $0.21. RBC Bearings had a net margin of 15.00% and a return on equity of 10.86%. The company had revenue of $461.60 million during the quarter, compared to analysts’ expectations of $460.69 million. During the same quarter in the prior year, the company earned $2.34 EPS. The firm’s revenue was up 17.0% on a year-over-year basis. Equities research analysts expect that RBC Bearings Incorporated will post 9.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of RBC Bearings in a research report on Monday, December 22nd. Wall Street Zen upgraded shares of RBC Bearings from a “hold” rating to a “buy” rating in a research note on Saturday. Deutsche Bank Aktiengesellschaft set a $527.00 price objective on RBC Bearings and gave the company a “buy” rating in a research note on Wednesday, December 17th. Zacks Research raised RBC Bearings from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 11th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $542.00 target price on shares of RBC Bearings in a research report on Monday, February 9th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $560.50.

RBC Bearings 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.