SG Americas Securities LLC Raises Position in RBC Bearings Incorporated $RBC

SG Americas Securities LLC lifted its stake in RBC Bearings Incorporated (NYSE:RBC) by 54.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,057 shares of the industrial products company’s stock after buying an additional 3,178 shares during the period. SG Americas Securities LLC’s holdings in RBC Bearings were worth $4,061,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in RBC. Frontier Capital Management Co. LLC purchased a new position in RBC Bearings during the 2nd quarter valued at about $39,818,000. Principal Financial Group Inc. lifted its holdings in RBC Bearings by 4.5% in the third 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 period. Faithward Advisors LLC bought a new stake in RBC Bearings during the 3rd quarter valued at approximately $2,826,000. EULAV Asset Management grew its holdings in shares of RBC Bearings by 20.6% during the 3rd quarter. EULAV Asset Management now owns 78,600 shares of the industrial products company’s stock worth $30,677,000 after acquiring an additional 13,400 shares during the period. Finally, Flagship Harbor Advisors LLC bought a new position in shares of RBC Bearings in the 3rd quarter worth approximately $374,000.

Analysts Set New Price Targets

Several brokerages recently weighed in on RBC. Morgan Stanley reaffirmed an “overweight” rating and issued a $600.00 price target on shares of RBC Bearings in a research note on Friday, February 6th. Weiss Ratings reissued a “buy (b-)” rating on shares of RBC Bearings in a research report on Monday, December 22nd. Truist Financial boosted their price objective on shares of RBC Bearings from $542.00 to $599.00 and gave the stock a “buy” rating in a research note on Friday, February 6th. KeyCorp upped their price objective on shares of RBC Bearings from $595.00 to $680.00 and gave the stock an “overweight” rating in a report on Monday, March 2nd. Finally, Deutsche Bank Aktiengesellschaft set a $527.00 target price on shares of RBC Bearings and gave the company a “buy” rating in a research note on Wednesday, December 17th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $574.67.

RBC Bearings Price Performance

RBC opened at $548.32 on Friday. The firm has a market cap of $17.34 billion, a PE ratio of 64.51, a P/E/G ratio of 2.66 and a beta of 1.49. The stock has a 50-day moving average price of $544.57 and a 200-day moving average price of $469.30. RBC Bearings Incorporated has a 1 year low of $297.28 and a 1 year high of $589.16. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.86 and a quick ratio of 0.67.

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, beating the consensus estimate of $2.83 by $0.21. The company had revenue of $461.60 million for the quarter, compared to the consensus estimate of $460.69 million. RBC Bearings had a net margin of 15.00% and a return on equity of 10.86%. RBC Bearings’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.34 EPS. Sell-side analysts predict that RBC Bearings Incorporated will post 9.16 earnings per share for the current fiscal year.

RBC Bearings 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.