Lombard Odier Asset Management USA Corp Has $4.70 Million Stake in RBC Bearings Incorporated $RBC

Lombard Odier Asset Management USA Corp boosted its position in shares of RBC Bearings Incorporated (NYSE:RBC) by 20.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 12,037 shares of the industrial products company’s stock after buying an additional 2,074 shares during the quarter. RBC Bearings accounts for 0.3% of Lombard Odier Asset Management USA Corp’s investment portfolio, making the stock its 24th biggest holding. Lombard Odier Asset Management USA Corp’s holdings in RBC Bearings were worth $4,698,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Assetmark Inc. boosted its position in shares of RBC Bearings by 4.6% in the third quarter. Assetmark Inc. now owns 563 shares of the industrial products company’s stock worth $220,000 after buying an additional 25 shares during the period. Jones Financial Companies Lllp raised its position in RBC Bearings by 2.7% during the third quarter. Jones Financial Companies Lllp now owns 994 shares of the industrial products company’s stock valued at $383,000 after buying an additional 26 shares during the period. EverSource Wealth Advisors LLC lifted its stake in RBC Bearings by 27.1% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 122 shares of the industrial products company’s stock worth $48,000 after acquiring an additional 26 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its stake in RBC Bearings by 0.3% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 10,070 shares of the industrial products company’s stock worth $3,930,000 after acquiring an additional 27 shares in the last quarter. Finally, Brown Advisory Inc. boosted its position in RBC Bearings by 4.7% during the 2nd quarter. Brown Advisory Inc. now owns 685 shares of the industrial products company’s stock worth $264,000 after acquiring an additional 31 shares during the period.

RBC Bearings Stock Performance

Shares of RBC stock opened at $547.10 on Tuesday. RBC Bearings Incorporated has a fifty-two week low of $297.28 and a fifty-two week high of $589.16. The stock’s 50-day moving average is $530.92 and its two-hundred day moving average is $455.89. 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 firm has a market cap of $17.30 billion, a P/E ratio of 64.37, a PEG ratio of 3.01 and a beta of 1.47.

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

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Wall Street Zen cut RBC Bearings from a “buy” rating to a “hold” rating in a research note on Sunday, March 8th. Morgan Stanley reissued an “overweight” rating and issued a $600.00 price target on shares of RBC Bearings in a research report on Friday, February 6th. Truist Financial raised their price target on shares of RBC Bearings from $542.00 to $599.00 and gave the stock a “buy” rating in a report on Friday, February 6th. Zacks Research raised shares of RBC Bearings from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 11th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of RBC Bearings in a research note 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 issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average 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.