Segall Bryant & Hamill LLC Buys 5,198 Shares of RBC Bearings Incorporated $RBC

Segall Bryant & Hamill LLC increased its stake in RBC Bearings Incorporated (NYSE:RBC) by 5.6% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 97,574 shares of the industrial products company’s stock after buying an additional 5,198 shares during the period. Segall Bryant & Hamill LLC’s holdings in RBC Bearings were worth $38,082,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in RBC. Machina Capital S.A.S. purchased a new position in shares of RBC Bearings in the second quarter worth $352,000. Frontier Capital Management Co. LLC bought a new stake in RBC Bearings in the 2nd quarter worth about $39,818,000. Principal Financial Group Inc. raised its position in RBC Bearings by 4.5% in the 3rd quarter. Principal Financial Group Inc. now owns 111,443 shares of the industrial products company’s stock worth $43,495,000 after buying an additional 4,776 shares during the last quarter. EULAV Asset Management lifted its stake in RBC Bearings by 20.6% during the 3rd quarter. EULAV Asset Management now owns 78,600 shares of the industrial products company’s stock valued at $30,677,000 after acquiring an additional 13,400 shares during the period. Finally, Flagship Harbor Advisors LLC bought a new position in RBC Bearings during the 3rd quarter valued at about $374,000.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on RBC shares. Morgan Stanley reissued an “overweight” rating and set a $600.00 price objective on shares of RBC Bearings in a report on Friday, February 6th. Wall Street Zen upgraded shares of RBC Bearings from a “hold” rating to a “buy” rating in a research note on Saturday. Bank of America raised RBC Bearings from a “neutral” rating to a “buy” rating and increased their price target for the company from $390.00 to $500.00 in a report on Thursday, November 6th. Deutsche Bank Aktiengesellschaft set a $527.00 price objective on RBC Bearings and gave the company a “buy” rating in a research report on Wednesday, December 17th. Finally, Truist Financial raised their target price on RBC Bearings from $542.00 to $599.00 and gave the stock a “buy” rating in a research report on Friday, February 6th. One investment 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 data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $574.67.

RBC Bearings Price Performance

NYSE RBC opened at $585.13 on Tuesday. The business’s fifty day moving average is $510.62 and its 200 day moving average is $444.63. RBC Bearings Incorporated has a fifty-two week low of $297.28 and a fifty-two week high of $589.16. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.67 and a current ratio of 1.86. The company has a market capitalization of $18.50 billion, a PE ratio of 68.84, a price-to-earnings-growth ratio of 3.24 and a beta of 1.47.

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

About RBC Bearings

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.