North Dakota State Investment Board Acquires New Position in RBC Bearings Incorporated $RBC

North Dakota State Investment Board acquired a new stake in RBC Bearings Incorporated (NYSE:RBC) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,091 shares of the industrial products company’s stock, valued at approximately $489,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Advisors Asset Management Inc. bought a new stake in RBC Bearings in the first quarter valued at about $26,000. SBI Securities Co. Ltd. increased its holdings in RBC Bearings by 106.5% in the fourth quarter. SBI Securities Co. Ltd. now owns 64 shares of the industrial products company’s stock valued at $29,000 after buying an additional 33 shares during the last quarter. Larson Financial Group LLC increased its holdings in RBC Bearings by 148.5% in the third quarter. Larson Financial Group LLC now owns 82 shares of the industrial products company’s stock valued at $32,000 after buying an additional 49 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in RBC Bearings in the fourth quarter valued at about $35,000. Finally, Root Financial Partners LLC bought a new stake in RBC Bearings in the third quarter valued at about $36,000.

RBC Bearings Stock Performance

Shares of RBC stock opened at $559.54 on Friday. The company has a quick ratio of 0.78, a current ratio of 2.18 and a debt-to-equity ratio of 0.21. The business has a 50 day moving average of $573.85 and a two-hundred day moving average of $517.67. RBC Bearings Incorporated has a 52 week low of $351.19 and a 52 week high of $632.00. The company has a market cap of $17.70 billion, a P/E ratio of 61.56, a PEG ratio of 3.26 and a beta of 1.47.

RBC Bearings (NYSE:RBC) last issued its earnings results on Friday, May 15th. The industrial products company reported $3.62 EPS for the quarter, beating 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 company had revenue of $518.00 million during the quarter, compared to the consensus estimate of $505.90 million. During the same period in the previous year, the firm posted $2.83 earnings per share. RBC Bearings’s quarterly revenue was up 18.3% compared to the same quarter last year. As a group, analysts anticipate that RBC Bearings Incorporated will post 13.64 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Weiss Ratings raised RBC Bearings from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday. Wall Street Zen lowered RBC Bearings from a “buy” rating to a “hold” rating in a report on Sunday, April 12th. Morgan Stanley boosted their price objective on RBC Bearings from $600.00 to $640.00 and gave the company an “overweight” rating in a report on Tuesday. Zacks Research upgraded RBC Bearings from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 11th. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $542.00 target price on shares of RBC Bearings in a research note on Monday, February 9th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $584.00.

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.