Oak Thistle LLC Invests $231,000 in RBC Bearings Incorporated (NYSE:RBC)

Oak Thistle LLC purchased a new stake in RBC Bearings Incorporated (NYSE:RBC) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 856 shares of the industrial products company’s stock, valued at approximately $231,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in RBC Bearings by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 2,711,824 shares of the industrial products company’s stock worth $772,572,000 after acquiring an additional 17,286 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in RBC Bearings by 16.1% in the third quarter. JPMorgan Chase & Co. now owns 712,962 shares of the industrial products company’s stock worth $166,926,000 after purchasing an additional 99,066 shares in the last quarter. Conestoga Capital Advisors LLC increased its position in RBC Bearings by 0.5% during the fourth quarter. Conestoga Capital Advisors LLC now owns 695,547 shares of the industrial products company’s stock worth $198,154,000 after buying an additional 3,415 shares during the last quarter. Geneva Capital Management LLC raised its holdings in RBC Bearings by 0.5% during the fourth quarter. Geneva Capital Management LLC now owns 585,988 shares of the industrial products company’s stock valued at $166,942,000 after buying an additional 2,668 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of RBC Bearings by 8.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 293,061 shares of the industrial products company’s stock worth $83,492,000 after buying an additional 21,766 shares during the last quarter.

Insider Transactions at RBC Bearings

In related news, Director Michael H. Ambrose sold 600 shares of the company’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $279.16, for a total value of $167,496.00. Following the completion of the transaction, the director now directly owns 6,728 shares in the company, valued at $1,878,188.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on RBC. The Goldman Sachs Group increased their price objective on RBC Bearings from $245.00 to $276.00 and gave the company a “neutral” rating in a report on Tuesday, May 28th. Morgan Stanley lifted their price target on shares of RBC Bearings from $310.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, May 23rd. William Blair assumed coverage on shares of RBC Bearings in a research note on Wednesday, May 29th. They issued an “outperform” rating for the company. Truist Financial raised their target price on shares of RBC Bearings from $309.00 to $328.00 and gave the company a “buy” rating in a research note on Tuesday, May 21st. Finally, Raymond James started coverage on shares of RBC Bearings in a research report on Friday. They set a “market perform” rating for the company. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, RBC Bearings currently has a consensus rating of “Moderate Buy” and an average price target of $286.57.

RBC Bearings Stock Performance

NYSE RBC opened at $267.97 on Tuesday. The company’s fifty day moving average is $272.87 and its two-hundred day moving average is $270.47. RBC Bearings Incorporated has a 52-week low of $203.65 and a 52-week high of $299.24. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.28 and a quick ratio of 1.16. The firm has a market capitalization of $7.75 billion, a price-to-earnings ratio of 41.87, a P/E/G ratio of 3.30 and a beta of 1.51.

RBC Bearings (NYSE:RBC) last released its earnings results on Friday, May 17th. The industrial products company reported $2.47 earnings per share for the quarter, beating the consensus estimate of $2.25 by $0.22. RBC Bearings had a net margin of 13.45% and a return on equity of 9.81%. The business had revenue of $413.70 million during the quarter, compared to analysts’ expectations of $414.21 million. During the same quarter last year, the company earned $2.06 earnings per share. The firm’s revenue was up 4.9% on a year-over-year basis. Equities research analysts forecast that RBC Bearings Incorporated will post 8.93 EPS for the current year.

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.