Chesapeake Capital Corp IL Invests $662,000 in RBC Bearings Incorporated $RBC

Chesapeake Capital Corp IL purchased a new position in RBC Bearings Incorporated (NYSE:RBC) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,695 shares of the industrial products company’s stock, valued at approximately $662,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of RBC. Advisors Asset Management Inc. bought a new position in RBC Bearings in the 1st quarter valued at about $26,000. Root Financial Partners LLC bought a new stake in shares of RBC Bearings during the 3rd quarter worth approximately $36,000. EverSource Wealth Advisors LLC boosted its position in shares of RBC Bearings by 123.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 96 shares of the industrial products company’s stock worth $37,000 after acquiring an additional 53 shares in the last quarter. Quent Capital LLC acquired a new stake in shares of RBC Bearings during the 3rd quarter worth approximately $38,000. Finally, Hantz Financial Services Inc. increased its stake in RBC Bearings by 51.6% in the third quarter. Hantz Financial Services Inc. now owns 144 shares of the industrial products company’s stock valued at $56,000 after acquiring an additional 49 shares during the last quarter.

Analyst Upgrades and Downgrades

Several brokerages have commented on RBC. Deutsche Bank Aktiengesellschaft set a $527.00 price objective on shares of RBC Bearings and gave the company a “buy” rating in a research report on Wednesday, December 17th. Zacks Research raised RBC Bearings from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 11th. Truist Financial lifted their price target on RBC Bearings from $542.00 to $599.00 and gave the company a “buy” rating in a research note on Friday, February 6th. KeyCorp boosted their price target on RBC Bearings from $595.00 to $680.00 and gave the stock an “overweight” rating in a report on Monday, March 2nd. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of RBC Bearings in a research report on Monday, December 22nd. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $574.67.

RBC Bearings Price Performance

RBC stock opened at $536.64 on Friday. The stock has a market cap of $16.97 billion, a price-to-earnings ratio of 63.13, a P/E/G ratio of 3.07 and a beta of 1.47. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.86 and a quick ratio of 0.67. The company has a 50 day simple moving average of $529.21 and a 200 day simple moving average of $454.08. RBC Bearings Incorporated has a 1 year low of $297.28 and a 1 year high of $589.16.

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