Champlain Investment Partners LLC Decreases Stock Holdings in RBC Bearings Incorporated $RBC

Champlain Investment Partners LLC lessened its stake in shares of RBC Bearings Incorporated (NYSE:RBC) by 26.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 138,119 shares of the industrial products company’s stock after selling 49,179 shares during the quarter. Champlain Investment Partners LLC owned about 0.44% of RBC Bearings worth $53,906,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Advisors Asset Management Inc. bought a new position in RBC Bearings during the first quarter valued at approximately $26,000. Root Financial Partners LLC purchased a new stake in RBC Bearings during the 3rd quarter valued at $36,000. Hantz Financial Services Inc. lifted its holdings in shares of RBC Bearings by 1,257.1% during the 2nd quarter. Hantz Financial Services Inc. now owns 95 shares of the industrial products company’s stock valued at $37,000 after buying an additional 88 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of RBC Bearings by 123.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 96 shares of the industrial products company’s stock valued at $37,000 after buying an additional 53 shares during the period. Finally, Quent Capital LLC purchased a new position in shares of RBC Bearings in the 3rd quarter worth $38,000.

RBC Bearings Stock Up 1.6%

Shares of RBC stock opened at $585.13 on Tuesday. 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 Incorporated has a one year low of $297.28 and a one year high of $589.16. The company’s fifty day moving average price is $510.62 and its 200-day moving average price is $444.63. The company has a market capitalization of $18.50 billion, a price-to-earnings ratio of 68.84, a PEG ratio of 3.24 and a beta of 1.47.

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

Analysts Set New Price Targets

A number of research analysts have weighed in on RBC shares. Wall Street Zen raised RBC Bearings from a “hold” rating to a “buy” rating in a report on Saturday. Deutsche Bank Aktiengesellschaft set a $527.00 price objective on shares of RBC Bearings and gave the stock a “buy” rating in a research note on Wednesday, December 17th. Weiss Ratings reissued a “buy (b-)” rating on shares of RBC Bearings in a report on Monday, December 22nd. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $542.00 target price on shares of RBC Bearings in a report on Monday, February 9th. Finally, Truist Financial increased their price target on shares of RBC Bearings from $542.00 to $599.00 and gave the stock a “buy” rating in a research report on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, RBC Bearings has a consensus rating of “Buy” and an average price target of $574.67.

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.