Harbor Investment Advisory LLC Buys New Stake in RBC Bearings Incorporated (NYSE:RBC)

Harbor Investment Advisory LLC bought a new stake in shares of RBC Bearings Incorporated (NYSE:RBC) in the 4th quarter, Holdings Channel reports. The institutional investor bought 273 shares of the industrial products company’s stock, valued at approximately $82,000.

Several other institutional investors also recently bought and sold shares of the stock. UMB Bank n.a. grew its stake in RBC Bearings by 84.9% during the fourth quarter. UMB Bank n.a. now owns 172 shares of the industrial products company’s stock valued at $51,000 after acquiring an additional 79 shares in the last quarter. Argent Capital Management LLC lifted its position in RBC Bearings by 33.0% during the fourth quarter. Argent Capital Management LLC now owns 4,521 shares of the industrial products company’s stock valued at $1,352,000 after purchasing an additional 1,123 shares during the last quarter. Park Avenue Securities LLC lifted its position in RBC Bearings by 33.6% during the fourth quarter. Park Avenue Securities LLC now owns 1,755 shares of the industrial products company’s stock valued at $525,000 after purchasing an additional 441 shares during the last quarter. Oak Thistle LLC lifted its position in RBC Bearings by 21.9% during the fourth quarter. Oak Thistle LLC now owns 3,003 shares of the industrial products company’s stock valued at $898,000 after purchasing an additional 540 shares during the last quarter. Finally, PFW Advisors LLC bought a new position in RBC Bearings during the fourth quarter valued at $374,000.

Wall Street Analysts Forecast Growth

RBC has been the subject of several research reports. William Blair reiterated an “outperform” rating on shares of RBC Bearings in a research report on Tuesday, November 26th. Truist Financial increased their price objective on shares of RBC Bearings from $347.00 to $351.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. KeyCorp upgraded shares of RBC Bearings from a “sector weight” rating to an “overweight” rating and set a $375.00 price objective for the company in a research report on Friday, November 22nd. Finally, Bank of America lowered shares of RBC Bearings from a “buy” rating to a “neutral” rating and raised their target price for the stock from $330.00 to $335.00 in a report on Thursday, November 21st. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $325.33.

RBC Bearings Price Performance

RBC Bearings stock opened at $322.57 on Thursday. The firm has a 50-day moving average price of $317.21 and a 200-day moving average price of $299.69. The firm has a market capitalization of $10.13 billion, a PE ratio of 47.09, a price-to-earnings-growth ratio of 4.30 and a beta of 1.57. The company has a current ratio of 3.48, a quick ratio of 1.28 and a debt-to-equity ratio of 0.38. RBC Bearings Incorporated has a 12-month low of $240.36 and a 12-month high of $346.77.

RBC Bearings (NYSE:RBC) last announced its quarterly earnings data on Friday, November 1st. The industrial products company reported $2.29 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.01). RBC Bearings had a net margin of 14.06% and a return on equity of 9.88%. The company had revenue of $397.90 million for the quarter, compared to the consensus estimate of $403.89 million. During the same quarter in the previous year, the business earned $2.07 EPS. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. As a group, equities research analysts forecast that RBC Bearings Incorporated will post 8.91 EPS for the current year.

RBC Bearings Company 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.