GAMMA Investing LLC Buys 77 Shares of RBC Bearings Incorporated (NYSE:RBC)

GAMMA Investing LLC boosted its stake in shares of RBC Bearings Incorporated (NYSE:RBC) by 17.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 517 shares of the industrial products company’s stock after buying an additional 77 shares during the quarter. GAMMA Investing LLC’s holdings in RBC Bearings were worth $155,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in RBC. UMB Bank n.a. lifted its stake in shares of RBC Bearings by 416.7% in the third quarter. UMB Bank n.a. now owns 93 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 75 shares during the period. Canada Pension Plan Investment Board bought a new position in RBC Bearings during the 2nd quarter worth approximately $54,000. Strategic Financial Concepts LLC bought a new position in RBC Bearings during the 2nd quarter worth approximately $68,000. Benjamin F. Edwards & Company Inc. lifted its position in shares of RBC Bearings by 80.1% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 290 shares of the industrial products company’s stock worth $78,000 after purchasing an additional 129 shares during the period. Finally, Blue Trust Inc. boosted its stake in shares of RBC Bearings by 541.9% in the 3rd quarter. Blue Trust Inc. now owns 276 shares of the industrial products company’s stock valued at $83,000 after purchasing an additional 233 shares during the last quarter.

Analyst Ratings Changes

A number of equities analysts recently weighed in on RBC shares. Bank of America downgraded shares of RBC Bearings from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $330.00 to $335.00 in a research note on Thursday, November 21st. William Blair reissued an “outperform” rating on shares of RBC Bearings in a research note on Tuesday, November 26th. Truist Financial raised their target price on RBC Bearings from $315.00 to $347.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Finally, KeyCorp raised RBC Bearings from a “sector weight” rating to an “overweight” rating and set a $375.00 price target on the stock in a research note on Friday, November 22nd. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $324.67.

RBC Bearings Stock Performance

Shares of RBC Bearings stock opened at $298.03 on Thursday. The business has a 50-day simple moving average of $316.43 and a 200 day simple moving average of $297.14. The firm has a market capitalization of $9.36 billion, a price-to-earnings ratio of 43.51, a PEG ratio of 4.50 and a beta of 1.57. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.48 and a quick ratio of 1.28. RBC Bearings Incorporated has a one year low of $240.36 and a one year high of $346.77.

RBC Bearings (NYSE:RBC) last issued its earnings results 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 return on equity of 9.88% and a net margin of 14.06%. The firm had revenue of $397.90 million for the quarter, compared to analyst estimates of $403.89 million. During the same period in the previous year, the company earned $2.07 earnings per share. RBC Bearings’s revenue for the quarter was up 3.2% compared to the same quarter last year. On average, research analysts anticipate that RBC Bearings Incorporated will post 8.94 earnings per share for the current fiscal 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.