Thrivent Financial for Lutherans Sells 2,585 Shares of RBC Bearings Incorporated $RBC

Thrivent Financial for Lutherans lowered its stake in shares of RBC Bearings Incorporated (NYSE:RBC) by 6.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 40,718 shares of the industrial products company’s stock after selling 2,585 shares during the quarter. Thrivent Financial for Lutherans owned 0.13% of RBC Bearings worth $18,270,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in RBC. Advisors Asset Management Inc. bought a new position in RBC Bearings in the first quarter valued at $26,000. SBI Securities Co. Ltd. lifted its stake in RBC Bearings by 106.5% during the fourth quarter. SBI Securities Co. Ltd. now owns 64 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 33 shares during the last quarter. Larson Financial Group LLC boosted its holdings in shares of RBC Bearings by 148.5% in the 3rd quarter. Larson Financial Group LLC now owns 82 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 49 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of RBC Bearings in the 4th quarter worth about $35,000. Finally, Root Financial Partners LLC bought a new position in shares of RBC Bearings during the 3rd quarter valued at about $36,000.

RBC Bearings Trading Down 3.1%

Shares of RBC stock opened at $551.29 on Tuesday. The stock has a market capitalization of $17.43 billion, a PE ratio of 60.65, a P/E/G ratio of 2.72 and a beta of 1.47. RBC Bearings Incorporated has a 1-year low of $351.19 and a 1-year high of $632.00. The business has a 50-day moving average of $573.38 and a 200 day moving average of $514.17. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.18 and a quick ratio of 0.78.

RBC Bearings (NYSE:RBC) last announced its quarterly earnings results on Friday, May 15th. The industrial products company reported $3.62 EPS for the quarter, topping analysts’ consensus estimates of $3.31 by $0.31. RBC Bearings had a return on equity of 11.35% and a net margin of 15.37%.The business had revenue of $518.00 million for the quarter, compared to analysts’ expectations of $505.90 million. During the same period in the previous year, the firm earned $2.83 EPS. The business’s quarterly revenue was up 18.3% on a year-over-year basis. As a group, sell-side analysts anticipate that RBC Bearings Incorporated will post 13.64 earnings per share for the current year.

Wall Street Analysts Forecast Growth

RBC has been the topic of a number of research reports. Truist Financial raised RBC Bearings to a “strong-buy” rating in a report on Friday, May 1st. Wall Street Zen cut shares of RBC Bearings from a “buy” rating to a “hold” rating in a research report on Sunday, April 12th. The Goldman Sachs Group reissued a “neutral” rating and set a $542.00 price target on shares of RBC Bearings in a research note on Monday, February 9th. KeyCorp boosted 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, Zacks Research raised shares of RBC Bearings from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 11th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the stock. 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.