Douglas Lane & Associates LLC Buys 21,379 Shares of RBC Bearings Incorporated (NYSE:RBC)

Douglas Lane & Associates LLC lifted its position in RBC Bearings Incorporated (NYSE:RBC) by 17.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 147,452 shares of the industrial products company’s stock after buying an additional 21,379 shares during the quarter. Douglas Lane & Associates LLC owned about 0.47% of RBC Bearings worth $44,109,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Jane Street Group LLC boosted its holdings in RBC Bearings by 18.5% in the 3rd quarter. Jane Street Group LLC now owns 16,536 shares of the industrial products company’s stock valued at $4,951,000 after purchasing an additional 2,584 shares during the period. TimesSquare Capital Management LLC raised its stake in shares of RBC Bearings by 17.3% in the third quarter. TimesSquare Capital Management LLC now owns 90,605 shares of the industrial products company’s stock worth $27,125,000 after acquiring an additional 13,395 shares during the last quarter. Segall Bryant & Hamill LLC increased its position in RBC Bearings by 41.6% in the third quarter. Segall Bryant & Hamill LLC now owns 29,715 shares of the industrial products company’s stock worth $8,896,000 after purchasing an additional 8,725 shares during the period. Holocene Advisors LP raised its position in shares of RBC Bearings by 69.4% during the 3rd quarter. Holocene Advisors LP now owns 12,396 shares of the industrial products company’s stock valued at $3,711,000 after acquiring an additional 5,078 shares during the last quarter. Finally, State Street Corp grew its position in shares of RBC Bearings by 2.4% during the 3rd quarter. State Street Corp now owns 845,175 shares of the industrial products company’s stock worth $253,028,000 after buying an additional 19,962 shares during the period.

RBC Bearings Trading Down 0.1 %

RBC traded down $0.39 during trading on Wednesday, reaching $297.04. 34,604 shares of the company’s stock were exchanged, compared to its average volume of 89,912. The stock has a market capitalization of $9.33 billion, a PE ratio of 43.36, a price-to-earnings-growth ratio of 4.50 and a beta of 1.57. RBC Bearings Incorporated has a one year low of $240.36 and a one year high of $346.77. The firm has a fifty day moving average price of $316.20 and a two-hundred day moving average price of $297.14. 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 (NYSE:RBC) last announced its quarterly earnings data on Friday, November 1st. The industrial products company reported $2.29 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.01). RBC Bearings had a return on equity of 9.88% and a net margin of 14.06%. The company had revenue of $397.90 million for the quarter, compared to analyst estimates of $403.89 million. During the same period last year, the business earned $2.07 EPS. The business’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 8.94 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on RBC. Bank of America cut shares of RBC Bearings from a “buy” rating to a “neutral” rating and upped their price objective for the company from $330.00 to $335.00 in a research report on Thursday, November 21st. KeyCorp upgraded RBC Bearings from a “sector weight” rating to an “overweight” rating and set a $375.00 target price for the company in a report on Friday, November 22nd. William Blair reissued an “outperform” rating on shares of RBC Bearings in a research report on Tuesday, November 26th. Finally, Truist Financial upped their target price on RBC Bearings from $315.00 to $347.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, RBC Bearings currently has a consensus rating of “Moderate Buy” and an average target price of $324.67.

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.