1,267 Shares in RBC Bearings Incorporated (NYSE:RBC) Acquired by MQS Management LLC

MQS Management LLC acquired a new stake in shares of RBC Bearings Incorporated (NYSE:RBC) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,267 shares of the industrial products company’s stock, valued at approximately $343,000.

A number of other large investors have also bought and sold shares of the company. 1832 Asset Management L.P. bought a new stake in shares of RBC Bearings in the fourth quarter valued at approximately $27,000. Principal Securities Inc. bought a new stake in RBC Bearings during the 4th quarter valued at $30,000. Benjamin F. Edwards & Company Inc. raised its holdings in RBC Bearings by 570.8% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 161 shares of the industrial products company’s stock valued at $44,000 after acquiring an additional 137 shares during the period. GAMMA Investing LLC purchased a new stake in shares of RBC Bearings during the fourth quarter worth $66,000. Finally, YHB Investment Advisors Inc. bought a new position in shares of RBC Bearings in the first quarter worth $93,000.

RBC Bearings Stock Up 1.2 %

RBC stock traded up $3.54 during midday trading on Thursday, hitting $287.66. The stock had a trading volume of 155,498 shares, compared to its average volume of 144,937. The business has a 50-day moving average of $283.24 and a two-hundred day moving average of $271.50. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.28 and a quick ratio of 1.16. The firm has a market cap of $8.32 billion, a price-to-earnings ratio of 44.95, a price-to-earnings-growth ratio of 3.59 and a beta of 1.51. RBC Bearings Incorporated has a 52-week low of $203.65 and a 52-week high of $309.01.

RBC Bearings (NYSE:RBC) last posted its quarterly earnings data on Friday, May 17th. The industrial products company reported $2.47 EPS for the quarter, topping the consensus estimate of $2.25 by $0.22. RBC Bearings had a net margin of 13.45% and a return on equity of 9.81%. The business had revenue of $413.70 million for the quarter, compared to analyst estimates of $414.21 million. During the same quarter in the previous year, the firm posted $2.06 earnings per share. RBC Bearings’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, equities research analysts forecast that RBC Bearings Incorporated will post 8.76 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Michael H. Ambrose sold 600 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $279.16, for a total value of $167,496.00. Following the completion of the transaction, the director now directly owns 6,728 shares in the company, valued at approximately $1,878,188.48. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 2.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on RBC shares. Truist Financial reduced their price objective on shares of RBC Bearings from $328.00 to $315.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Raymond James initiated coverage on shares of RBC Bearings in a research report on Friday, June 28th. They set a “market perform” rating for the company. William Blair assumed coverage on RBC Bearings in a research report on Wednesday, May 29th. They issued an “outperform” rating on the stock. Morgan Stanley lifted their price objective on RBC Bearings from $310.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, May 23rd. Finally, The Goldman Sachs Group upped their target price on RBC Bearings from $245.00 to $276.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 28th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $284.71.

RBC Bearings Profile

RBC Bearings Incorporated manufactures and markets engineered precision bearings, components, and systems in the United States and internationally. It operates through two segments, Aerospace/Defense and Industrial. The company produces plain bearings with self-lubricating or metal-to-metal designs, including rod end bearings, spherical plain bearings, and journal bearings; roller bearings, such as tapered roller bearings, needle roller bearings, and needle bearing track rollers and cam followers, which are anti-friction products that are used in industrial applications and military aircraft platforms; and ball bearings include high precision aerospace, airframe control, thin section, and industrial ball bearings that utilize high precision ball elements to reduce friction in high-speed applications.