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

GAMMA Investing LLC raised its stake in RBC Bearings Incorporated (NYSE:RBC) by 17.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 517 shares of the industrial products company’s stock after acquiring an additional 77 shares during the period. GAMMA Investing LLC’s holdings in RBC Bearings were worth $155,000 at the end of the most recent quarter.

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

RBC Bearings Trading Up 0.2 %

NYSE RBC opened at $298.03 on Thursday. The company 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 Incorporated has a twelve month low of $240.36 and a twelve month high of $346.77. The company has a quick ratio of 1.28, a current ratio of 3.48 and a debt-to-equity ratio of 0.38. The business’s fifty day moving average is $316.43 and its 200 day moving average is $297.14.

RBC Bearings (NYSE:RBC) last announced its quarterly earnings results on Friday, November 1st. The industrial products company reported $2.29 EPS 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 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 business posted $2.07 earnings per share. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. As a group, sell-side analysts expect that RBC Bearings Incorporated will post 8.94 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on RBC. Bank of America downgraded shares of RBC Bearings from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $330.00 to $335.00 in a research report on Thursday, November 21st. William Blair reissued an “outperform” rating on shares of RBC Bearings in a report on Tuesday, November 26th. Truist Financial raised their price objective on RBC Bearings from $315.00 to $347.00 and gave the company 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 target price for the company in a research note on Friday, November 22nd. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $324.67.

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.