Zions Bancorporation National Association UT Sells 1,121 Shares of RBC Bearings Incorporated $RBC

Zions Bancorporation National Association UT decreased its holdings in shares of RBC Bearings Incorporated (NYSE:RBC) by 12.9% in the third quarter, HoldingsChannel reports. The firm owned 7,554 shares of the industrial products company’s stock after selling 1,121 shares during the quarter. Zions Bancorporation National Association UT’s holdings in RBC Bearings were worth $2,948,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Assetmark Inc. boosted its holdings in RBC Bearings by 4.6% in the third quarter. Assetmark Inc. now owns 563 shares of the industrial products company’s stock worth $220,000 after acquiring an additional 25 shares in the last quarter. Jones Financial Companies Lllp raised its stake in RBC Bearings by 2.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 994 shares of the industrial products company’s stock valued at $383,000 after buying an additional 26 shares during the last quarter. State of New Jersey Common Pension Fund D raised its stake in RBC Bearings by 0.3% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 10,070 shares of the industrial products company’s stock valued at $3,930,000 after buying an additional 27 shares during the last quarter. Brown Advisory Inc. boosted its stake in shares of RBC Bearings by 4.7% in the 2nd quarter. Brown Advisory Inc. now owns 685 shares of the industrial products company’s stock worth $264,000 after buying an additional 31 shares during the last quarter. Finally, Covestor Ltd lifted its holdings in RBC Bearings by 21.5% in the third quarter. Covestor Ltd now owns 181 shares of the industrial products company’s stock valued at $71,000 after acquiring an additional 32 shares during the period.

RBC Bearings Stock Performance

Shares of NYSE:RBC opened at $553.75 on Monday. 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 50 day simple moving average is $485.85 and its 200-day simple moving average is $432.04. The firm has a market cap of $17.51 billion, a PE ratio of 65.15, a price-to-earnings-growth ratio of 3.11 and a beta of 1.52. RBC Bearings Incorporated has a one year low of $297.28 and a one year high of $563.51.

RBC Bearings (NYSE:RBC) last issued its quarterly earnings data on Thursday, February 5th. The industrial products company reported $3.04 earnings per share (EPS) for the quarter, beating 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 company had revenue of $461.60 million for the quarter, compared to analyst estimates of $460.69 million. During the same period last year, the company posted $2.34 earnings per share. RBC Bearings’s revenue was up 17.0% compared to the same quarter last year. As a group, equities analysts predict that RBC Bearings Incorporated will post 9.16 EPS for the current year.

Analyst Upgrades and Downgrades

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

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.