Kovack Advisors Inc. Makes New $498,000 Investment in RBC Bearings Incorporated $RBC

Kovack Advisors Inc. acquired a new position in shares of RBC Bearings Incorporated (NYSE:RBC) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 1,275 shares of the industrial products company’s stock, valued at approximately $498,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Assetmark Inc. lifted its position in RBC Bearings by 4.6% during the 3rd quarter. Assetmark Inc. now owns 563 shares of the industrial products company’s stock worth $220,000 after acquiring an additional 25 shares during the period. Jones Financial Companies Lllp raised its stake in shares of RBC Bearings by 2.7% in the third quarter. Jones Financial Companies Lllp now owns 994 shares of the industrial products company’s stock worth $383,000 after purchasing an additional 26 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its holdings in shares of RBC Bearings by 0.3% during the third 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 purchasing an additional 27 shares during the period. Brown Advisory Inc. boosted its position in RBC Bearings by 4.7% in the second quarter. Brown Advisory Inc. now owns 685 shares of the industrial products company’s stock valued at $264,000 after buying an additional 31 shares during the last quarter. Finally, Covestor Ltd increased its holdings in RBC Bearings by 21.5% in the 3rd quarter. Covestor Ltd now owns 181 shares of the industrial products company’s stock worth $71,000 after buying an additional 32 shares during the period.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Bank of America upgraded shares of RBC Bearings from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $390.00 to $500.00 in a research note on Thursday, November 6th. Weiss Ratings restated a “buy (b-)” rating on shares of RBC Bearings in a research report on Monday, December 22nd. Zacks Research raised RBC Bearings from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 11th. The Goldman Sachs Group reiterated a “neutral” rating and set a $542.00 price objective on shares of RBC Bearings in a research note on Monday, February 9th. Finally, Morgan Stanley restated an “overweight” rating and issued a $600.00 target price on shares of RBC Bearings in a research note on Friday, February 6th. 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 data from MarketBeat.com, RBC Bearings currently has a consensus rating of “Buy” and an average price target of $560.50.

RBC Bearings Stock Up 1.4%

RBC stock opened at $559.41 on Friday. RBC Bearings Incorporated has a one year low of $297.28 and a one year high of $564.70. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.67 and a current ratio of 1.86. The firm’s fifty day moving average is $496.27 and its 200 day moving average is $437.23. The firm has a market cap of $17.69 billion, a PE ratio of 65.81, a P/E/G ratio of 3.15 and a beta of 1.52.

RBC Bearings (NYSE:RBC) last posted its earnings results on Thursday, February 5th. The industrial products company reported $3.04 earnings per share (EPS) for the quarter, topping the consensus estimate 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 period in the prior year, the company posted $2.34 EPS. The company’s revenue for the quarter was up 17.0% on a year-over-year basis. On average, research analysts forecast that RBC Bearings Incorporated will post 9.16 EPS for the current year.

About RBC Bearings

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.