RBC Bearings Incorporated $RBC Shares Purchased by Krane Funds Advisors LLC

Krane Funds Advisors LLC grew its stake in shares of RBC Bearings Incorporated (NYSE:RBC) by 543.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,133 shares of the industrial products company’s stock after buying an additional 3,491 shares during the quarter. Krane Funds Advisors LLC’s holdings in RBC Bearings were worth $1,531,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Advisors Asset Management Inc. acquired a new position in shares of RBC Bearings during the first quarter valued at approximately $26,000. AQR Capital Management LLC increased its position in shares of RBC Bearings by 27.8% during the 1st quarter. AQR Capital Management LLC now owns 1,297 shares of the industrial products company’s stock valued at $417,000 after purchasing an additional 282 shares during the period. Integrated Wealth Concepts LLC raised its stake in shares of RBC Bearings by 32.7% in the 1st quarter. Integrated Wealth Concepts LLC now owns 1,229 shares of the industrial products company’s stock worth $395,000 after buying an additional 303 shares in the last quarter. Jones Financial Companies Lllp raised its stake in shares of RBC Bearings by 64.1% in the 1st quarter. Jones Financial Companies Lllp now owns 1,111 shares of the industrial products company’s stock worth $357,000 after buying an additional 434 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of RBC Bearings by 2.0% in the first quarter. Goldman Sachs Group Inc. now owns 211,744 shares of the industrial products company’s stock valued at $68,133,000 after buying an additional 4,253 shares during the period.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. 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 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. Morgan Stanley reiterated an “overweight” rating and issued a $600.00 target price on shares of RBC Bearings in a report on Friday, February 6th. The Goldman Sachs Group restated a “neutral” rating and set a $542.00 target price on shares of RBC Bearings in a report on Monday, February 9th. Finally, Deutsche Bank Aktiengesellschaft set a $527.00 price target on shares of RBC Bearings and gave the stock a “buy” rating in a research report on Wednesday, December 17th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $560.50.

RBC Bearings Trading Up 0.5%

RBC Bearings stock opened at $561.75 on Tuesday. RBC Bearings Incorporated has a 52 week low of $297.28 and a 52 week 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 has a market capitalization of $17.76 billion, a price-to-earnings ratio of 66.09, a P/E/G ratio of 3.15 and a beta of 1.52. The company has a 50 day moving average price of $498.25 and a 200 day moving average price of $438.57.

RBC Bearings (NYSE:RBC) last released its earnings results on Thursday, February 5th. The industrial products company reported $3.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.83 by $0.21. The company 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 company’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.34 earnings per share. Research analysts forecast that RBC Bearings Incorporated will post 9.16 EPS for the current 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.