RBC Bearings Incorporated $RBC Shares Sold by TD Asset Management Inc

TD Asset Management Inc lowered its stake in RBC Bearings Incorporated (NYSE:RBC) by 4.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 18,926 shares of the industrial products company’s stock after selling 956 shares during the period. TD Asset Management Inc owned 0.06% of RBC Bearings worth $7,387,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of RBC. Vanguard Group Inc. raised its stake in RBC Bearings by 0.4% during the second quarter. Vanguard Group Inc. now owns 2,946,581 shares of the industrial products company’s stock valued at $1,133,844,000 after buying an additional 13,061 shares in the last quarter. Geode Capital Management LLC boosted its stake in RBC Bearings by 4.1% in the second quarter. Geode Capital Management LLC now owns 557,858 shares of the industrial products company’s stock valued at $214,699,000 after acquiring an additional 21,972 shares during the period. Maren Capital LLC increased its position in RBC Bearings by 1.8% in the second quarter. Maren Capital LLC now owns 428,546 shares of the industrial products company’s stock worth $164,905,000 after buying an additional 7,600 shares during the period. Artisan Partners Limited Partnership bought a new position in RBC Bearings in the 2nd quarter worth approximately $157,190,000. Finally, Norges Bank acquired a new position in shares of RBC Bearings during the second quarter valued at $137,078,000.

Analysts Set New Price Targets

RBC has been the topic of several research analyst reports. Zacks Research raised shares of RBC Bearings from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 11th. Truist Financial lifted their target price on shares of RBC Bearings from $542.00 to $599.00 and gave the company a “buy” rating in a research note on Friday, February 6th. KeyCorp raised their target price on RBC Bearings from $595.00 to $680.00 and gave the company an “overweight” rating in a report on Monday. The Goldman Sachs Group reiterated a “neutral” rating and set a $542.00 price target on shares of RBC Bearings in a report on Monday, February 9th. Finally, Deutsche Bank Aktiengesellschaft set a $527.00 target price on shares of RBC Bearings and gave the company a “buy” rating in a research note on Wednesday, December 17th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, RBC Bearings currently has a consensus rating of “Buy” and an average target price of $574.67.

RBC Bearings Price Performance

RBC Bearings stock opened at $585.13 on Tuesday. The firm has a market capitalization of $18.50 billion, a P/E ratio of 68.84, a PEG ratio of 3.24 and a beta of 1.47. The business has a 50-day moving average of $510.62 and a 200-day moving average of $444.63. The company has a current ratio of 1.86, a quick ratio of 0.67 and a debt-to-equity ratio of 0.22. RBC Bearings Incorporated has a 1 year low of $297.28 and a 1 year high of $589.16.

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