Diversified Trust Co Decreases Stock Holdings in RBC Bearings Incorporated (NYSE:RBC)

Diversified Trust Co reduced its holdings in shares of RBC Bearings Incorporated (NYSE:RBC) by 21.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,863 shares of the industrial products company’s stock after selling 775 shares during the quarter. Diversified Trust Co’s holdings in RBC Bearings were worth $856,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. UMB Bank n.a. grew its stake in RBC Bearings by 416.7% during the third quarter. UMB Bank n.a. now owns 93 shares of the industrial products company’s stock worth $28,000 after buying an additional 75 shares during the period. Canada Pension Plan Investment Board purchased a new position in shares of RBC Bearings in the second quarter valued at $54,000. Blue Trust Inc. boosted its stake in shares of RBC Bearings by 541.9% in the third 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 period. Benjamin F. Edwards & Company Inc. boosted its stake in shares of RBC Bearings by 80.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 290 shares of the industrial products company’s stock valued at $78,000 after purchasing an additional 129 shares during the period. Finally, Quarry LP boosted its stake in shares of RBC Bearings by 1,003.7% in the third quarter. Quarry LP now owns 298 shares of the industrial products company’s stock valued at $89,000 after purchasing an additional 271 shares during the period.

RBC Bearings Stock Performance

NYSE:RBC opened at $298.03 on Friday. RBC Bearings Incorporated has a twelve month low of $240.36 and a twelve month high of $346.77. The company has a current ratio of 3.48, a quick ratio of 1.28 and a debt-to-equity ratio of 0.38. The company has a 50-day moving average of $316.78 and a 200-day moving average of $297.15. The firm has a market cap of $9.36 billion, a price-to-earnings ratio of 43.51, a price-to-earnings-growth ratio of 4.50 and a beta of 1.57.

RBC Bearings (NYSE:RBC) last posted its quarterly earnings data on Friday, November 1st. The industrial products company reported $2.29 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.01). RBC Bearings had a net margin of 14.06% and a return on equity of 9.88%. The business had revenue of $397.90 million for the quarter, compared to the consensus estimate of $403.89 million. During the same quarter last year, the business posted $2.07 EPS. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. Analysts forecast that RBC Bearings Incorporated will post 8.94 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on RBC shares. Truist Financial upped their price target on shares of RBC Bearings from $315.00 to $347.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Bank of America cut shares of RBC Bearings from a “buy” rating to a “neutral” rating and increased their target price for the stock from $330.00 to $335.00 in a report on Thursday, November 21st. William Blair restated an “outperform” rating on shares of RBC Bearings in a research report on Tuesday, November 26th. Finally, KeyCorp upgraded shares of RBC Bearings from a “sector weight” rating to an “overweight” rating and set a $375.00 price target for the company in a research report on Friday, November 22nd. Four investment 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $324.67.

About RBC Bearings

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.