Greenhouse Funds LLLP Has $91.16 Million Stake in RBC Bearings Incorporated $RBC

Greenhouse Funds LLLP grew its holdings in RBC Bearings Incorporated (NYSE:RBC) by 2.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 233,578 shares of the industrial products company’s stock after acquiring an additional 6,144 shares during the quarter. RBC Bearings accounts for about 3.3% of Greenhouse Funds LLLP’s investment portfolio, making the stock its 11th largest holding. Greenhouse Funds LLLP’s holdings in RBC Bearings were worth $91,163,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Artisan Partners Limited Partnership bought a new position in shares of RBC Bearings during the 2nd quarter valued at about $157,190,000. Norges Bank bought a new stake in RBC Bearings during the 2nd quarter worth approximately $137,078,000. Frontier Capital Management Co. LLC acquired a new stake in RBC Bearings during the 2nd quarter worth approximately $39,818,000. First Trust Advisors LP raised its holdings in RBC Bearings by 36.4% during the 3rd quarter. First Trust Advisors LP now owns 352,734 shares of the industrial products company’s stock worth $137,669,000 after buying an additional 94,203 shares during the period. Finally, American Century Companies Inc. lifted its stake in 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 Price Performance

NYSE RBC opened at $560.15 on Thursday. The company has a quick ratio of 0.67, a current ratio of 1.86 and a debt-to-equity ratio of 0.22. RBC Bearings Incorporated has a 12-month low of $297.28 and a 12-month high of $589.16. The company has a market capitalization of $17.71 billion, a PE ratio of 65.90, a price-to-earnings-growth ratio of 3.14 and a beta of 1.47. The firm’s 50 day moving average is $525.69 and its 200-day moving average is $452.47.

RBC Bearings (NYSE:RBC) last announced 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. RBC Bearings had a net margin of 15.00% and a return on equity of 10.86%. The business had revenue of $461.60 million for the quarter, compared to analyst estimates of $460.69 million. During the same quarter in the previous year, the firm posted $2.34 earnings per share. The firm’s revenue for the quarter was up 17.0% on a year-over-year basis. Equities research analysts anticipate that RBC Bearings Incorporated will post 9.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of RBC Bearings in a report on Monday, December 22nd. Deutsche Bank Aktiengesellschaft set a $527.00 price objective on shares of RBC Bearings and gave the stock a “buy” rating in a report on Wednesday, December 17th. Wall Street Zen lowered shares of RBC Bearings from a “buy” rating to a “hold” rating in a research note on Sunday. The Goldman Sachs Group reiterated a “neutral” rating and set a $542.00 target price on shares of RBC Bearings in a report on Monday, February 9th. Finally, Zacks Research raised RBC Bearings from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 11th. 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 company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $574.67.

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.