TimesSquare Capital Management LLC Boosts Stake in RBC Bearings Incorporated $RBC

TimesSquare Capital Management LLC lifted its holdings in RBC Bearings Incorporated (NYSE:RBC) by 28.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,579 shares of the industrial products company’s stock after buying an additional 19,916 shares during the quarter. TimesSquare Capital Management LLC owned 0.29% of RBC Bearings worth $40,618,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of RBC. Artisan Partners Limited Partnership boosted its stake in shares of RBC Bearings by 51.7% in the third quarter. Artisan Partners Limited Partnership now owns 619,592 shares of the industrial products company’s stock valued at $241,821,000 after buying an additional 211,093 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of RBC Bearings by 39,846.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 185,749 shares of the industrial products company’s stock valued at $83,295,000 after buying an additional 185,284 shares in the last quarter. Invesco Ltd. boosted its stake in shares of RBC Bearings by 60.5% in the third quarter. Invesco Ltd. now owns 381,161 shares of the industrial products company’s stock valued at $148,763,000 after buying an additional 143,710 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of RBC Bearings by 36.4% in the third quarter. First Trust Advisors LP now owns 352,734 shares of the industrial products company’s stock valued at $137,669,000 after buying an additional 94,203 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of RBC Bearings by 34.8% in the third quarter. American Century Companies Inc. now owns 207,604 shares of the industrial products company’s stock valued at $81,026,000 after buying an additional 53,622 shares in the last quarter.

RBC Bearings Stock Down 3.1%

RBC opened at $551.29 on Tuesday. The business’s fifty day moving average is $573.38 and its two-hundred day moving average is $514.17. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.78 and a current ratio of 2.18. The company has a market cap of $17.43 billion, a price-to-earnings ratio of 60.65, a PEG ratio of 2.72 and a beta of 1.47. RBC Bearings Incorporated has a one year low of $351.19 and a one year high of $632.00.

RBC Bearings (NYSE:RBC) last posted its earnings results on Friday, May 15th. The industrial products company reported $3.62 EPS for the quarter, topping analysts’ consensus estimates of $3.31 by $0.31. The company had revenue of $518.00 million for the quarter, compared to the consensus estimate of $505.90 million. RBC Bearings had a return on equity of 11.35% and a net margin of 15.37%.RBC Bearings’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.83 earnings per share. Analysts anticipate that RBC Bearings Incorporated will post 13.64 EPS for the current fiscal year.

Analysts Set New Price Targets

RBC has been the topic of a number of analyst reports. Wall Street Zen downgraded RBC Bearings from a “buy” rating to a “hold” rating in a research note on Sunday, April 12th. Truist Financial upgraded RBC Bearings to a “strong-buy” rating in a research note on Friday, May 1st. KeyCorp lifted their price target on RBC Bearings from $595.00 to $680.00 and gave the company an “overweight” rating in a research note on Monday, March 2nd. The Goldman Sachs Group restated a “neutral” rating and issued a $542.00 price target on shares of RBC Bearings in a research note on Monday, February 9th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $600.00 target price on shares of RBC Bearings in a research report on Friday, February 6th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus 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.