KBC Group NV Grows Position in RBC Bearings Incorporated (NYSE:RBC)

KBC Group NV increased its position in shares of RBC Bearings Incorporated (NYSE:RBC) by 59.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,124 shares of the industrial products company’s stock after purchasing an additional 420 shares during the period. KBC Group NV’s holdings in RBC Bearings were worth $336,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Curated Wealth Partners LLC boosted its position in shares of RBC Bearings by 1.6% during the 4th quarter. Curated Wealth Partners LLC now owns 1,989 shares of the industrial products company’s stock valued at $595,000 after acquiring an additional 32 shares during the last quarter. Harbor Investment Advisory LLC bought a new stake in shares of RBC Bearings in the 4th quarter valued at approximately $82,000. UMB Bank n.a. increased its position in shares of RBC Bearings by 84.9% during the 4th quarter. UMB Bank n.a. now owns 172 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 79 shares during the last quarter. Argent Capital Management LLC lifted its position in RBC Bearings by 33.0% in the fourth quarter. Argent Capital Management LLC now owns 4,521 shares of the industrial products company’s stock worth $1,352,000 after buying an additional 1,123 shares during the last quarter. Finally, Park Avenue Securities LLC lifted its holdings in shares of RBC Bearings by 33.6% in the 4th quarter. Park Avenue Securities LLC now owns 1,755 shares of the industrial products company’s stock worth $525,000 after acquiring an additional 441 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. KeyCorp increased their price target on RBC Bearings from $375.00 to $395.00 and gave the stock an “overweight” rating in a report on Monday. Truist Financial lifted their price objective on shares of RBC Bearings from $351.00 to $410.00 and gave the company a “buy” rating in a report on Monday. William Blair reaffirmed an “outperform” rating on shares of RBC Bearings in a research report on Tuesday, November 26th. Finally, Bank of America lowered RBC Bearings from a “buy” rating to a “neutral” rating and boosted their price target for the company from $330.00 to $335.00 in a report on Thursday, November 21st. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $338.50.

RBC Bearings Trading Up 5.2 %

RBC Bearings stock opened at $366.74 on Tuesday. The company has a current ratio of 3.43, a quick ratio of 1.18 and a debt-to-equity ratio of 0.34. The firm has a market cap of $11.52 billion, a PE ratio of 50.38, a P/E/G ratio of 4.81 and a beta of 1.57. The stock’s 50 day simple moving average is $317.49 and its two-hundred day simple moving average is $301.79. RBC Bearings Incorporated has a 12 month low of $240.36 and a 12 month high of $371.00.

RBC Bearings (NYSE:RBC) last released its quarterly earnings results on Friday, November 1st. The industrial products company reported $2.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.01). The company had revenue of $397.90 million during the quarter, compared to analyst estimates of $403.89 million. RBC Bearings had a net margin of 14.59% and a return on equity of 10.06%. RBC Bearings’s revenue was up 3.2% compared to the same quarter last year. During the same period in the prior year, the business posted $2.07 EPS. Analysts anticipate that RBC Bearings Incorporated will post 8.91 earnings per share for the current 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.