Sheets Smith Wealth Management Grows Stock Holdings in RBC Bearings Incorporated (NYSE:RBC)

Sheets Smith Wealth Management raised its stake in shares of RBC Bearings Incorporated (NYSE:RBC) by 10.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,016 shares of the industrial products company’s stock after buying an additional 195 shares during the quarter. Sheets Smith Wealth Management’s holdings in RBC Bearings were worth $574,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of RBC. Portside Wealth Group LLC boosted its stake in RBC Bearings by 4.8% during the 3rd quarter. Portside Wealth Group LLC now owns 1,104 shares of the industrial products company’s stock valued at $258,000 after purchasing an additional 51 shares during the last quarter. Fifth Third Bancorp boosted its position in RBC Bearings by 14.3% in the third quarter. Fifth Third Bancorp now owns 423 shares of the industrial products company’s stock worth $99,000 after purchasing an additional 53 shares during the last quarter. Bleakley Financial Group LLC increased its holdings in RBC Bearings by 2.1% during the fourth quarter. Bleakley Financial Group LLC now owns 3,197 shares of the industrial products company’s stock valued at $911,000 after buying an additional 66 shares during the last quarter. Treasurer of the State of North Carolina boosted its stake in shares of RBC Bearings by 0.6% during the 3rd quarter. Treasurer of the State of North Carolina now owns 12,420 shares of the industrial products company’s stock worth $2,908,000 after acquiring an additional 70 shares during the last quarter. Finally, SkyView Investment Advisors LLC grew its position in shares of RBC Bearings by 2.2% during the 3rd quarter. SkyView Investment Advisors LLC now owns 3,249 shares of the industrial products company’s stock valued at $761,000 after acquiring an additional 71 shares during the period.

RBC Bearings Price Performance

RBC stock traded up $7.79 during mid-day trading on Monday, hitting $257.78. The company had a trading volume of 84,943 shares, compared to its average volume of 124,891. The company has a 50-day moving average price of $260.39 and a 200 day moving average price of $259.14. RBC Bearings Incorporated has a 12-month low of $195.18 and a 12-month high of $288.16. The company has a market capitalization of $7.26 billion, a price-to-earnings ratio of 41.80, a P/E/G ratio of 4.76 and a beta of 1.46. The company has a quick ratio of 1.12, a current ratio of 3.28 and a debt-to-equity ratio of 0.47.

RBC Bearings (NYSE:RBC) last issued its quarterly earnings data on Thursday, February 8th. The industrial products company reported $1.75 earnings per share for the quarter, missing analysts’ consensus estimates of $1.83 by ($0.08). The company had revenue of $373.91 million for the quarter, compared to the consensus estimate of $376.61 million. RBC Bearings had a net margin of 12.81% and a return on equity of 9.64%. On average, research analysts anticipate that RBC Bearings Incorporated will post 8.02 earnings per share for the current year.

Insider Activity

In other RBC Bearings news, COO Daniel A. Bergeron sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $267.22, for a total value of $4,008,300.00. Following the completion of the sale, the chief operating officer now owns 121,935 shares of the company’s stock, valued at $32,583,470.70. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 2.90% of the company’s stock.

Wall Street Analyst Weigh In

RBC has been the subject of several recent research reports. Truist Financial boosted their price target on RBC Bearings from $271.00 to $309.00 and gave the company a “buy” rating in a report on Wednesday, January 10th. Citigroup raised their target price on shares of RBC Bearings from $250.00 to $285.00 and gave the stock a “neutral” rating in a research note on Monday, February 12th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $275.86.

About RBC Bearings

RBC Bearings Incorporated manufactures and markets engineered precision bearings and components in the United States and internationally. It operates through two segments, Aerospace/Defense and Industrial. The company produces plain bearings with self-lubricating or metal-to-metal designs, including rod end bearings, spherical plain bearings, and journal bearings; roller bearings, such as tapered roller bearings, needle roller bearings, and needle bearing track rollers and cam followers, which are anti-friction products that are used in industrial applications and military aircraft platforms; and ball bearings include high precision aerospace, airframe control, thin section, and industrial ball bearings that utilize high precision ball elements to reduce friction in high-speed applications.