1,040 Shares in RBC Bearings Incorporated $RBC Bought by Newbridge Financial Services Group Inc.

Newbridge Financial Services Group Inc. purchased a new position in shares of RBC Bearings Incorporated (NYSE:RBC) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,040 shares of the industrial products company’s stock, valued at approximately $466,000.

A number of other large investors have also recently bought and sold shares of the business. State Street Corp lifted its stake in shares of RBC Bearings by 0.5% in the 3rd quarter. State Street Corp now owns 919,259 shares of the industrial products company’s stock worth $358,778,000 after acquiring an additional 4,568 shares during the period. Artisan Partners Limited Partnership lifted its stake in shares of RBC Bearings by 51.7% in the 3rd quarter. Artisan Partners Limited Partnership now owns 619,592 shares of the industrial products company’s stock worth $241,821,000 after acquiring an additional 211,093 shares during the period. Invesco Ltd. lifted its stake in shares of RBC Bearings by 60.5% in the 3rd quarter. Invesco Ltd. now owns 381,161 shares of the industrial products company’s stock worth $148,763,000 after acquiring an additional 143,710 shares during the period. Port Capital LLC lifted its stake in shares of RBC Bearings by 0.9% in the 3rd quarter. Port Capital LLC now owns 367,848 shares of the industrial products company’s stock worth $143,567,000 after acquiring an additional 3,300 shares during the period. Finally, First Trust Advisors LP lifted its stake in shares of RBC Bearings by 36.4% in the 3rd quarter. First Trust Advisors LP now owns 352,734 shares of the industrial products company’s stock worth $137,669,000 after acquiring an additional 94,203 shares during the period.

RBC Bearings Stock Up 0.1%

Shares of NYSE RBC opened at $552.80 on Wednesday. The company has a quick ratio of 0.67, a current ratio of 1.86 and a debt-to-equity ratio of 0.22. RBC Bearings Incorporated has a 52 week low of $301.05 and a 52 week high of $589.16. The firm has a 50-day moving average price of $547.40 and a 200 day moving average price of $474.14. The stock has a market capitalization of $17.48 billion, a price-to-earnings ratio of 65.03, a price-to-earnings-growth ratio of 2.64 and a beta of 1.49.

RBC Bearings (NYSE:RBC) last announced its quarterly earnings data on Thursday, February 5th. The industrial products company reported $3.04 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 firm had revenue of $461.60 million during the quarter, compared to analysts’ expectations of $460.69 million. During the same quarter last year, the business earned $2.34 earnings per share. The business’s revenue for the quarter was up 17.0% compared to the same quarter last year. Equities research analysts anticipate that RBC Bearings Incorporated will post 9.16 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on RBC shares. KeyCorp raised their target price on shares of RBC Bearings from $595.00 to $680.00 and gave the stock an “overweight” rating in a research note on Monday, March 2nd. Weiss Ratings restated a “buy (b-)” rating on shares of RBC Bearings in a research note on Monday, December 22nd. 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. Wall Street Zen upgraded shares of RBC Bearings from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Deutsche Bank Aktiengesellschaft set a $527.00 target price on shares of RBC Bearings and gave the stock a “buy” rating in a research note on Wednesday, December 17th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $574.67.

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.