PFW Advisors LLC Makes New $374,000 Investment in RBC Bearings Incorporated (NYSE:RBC)

PFW Advisors LLC bought a new stake in RBC Bearings Incorporated (NYSE:RBC) in the 4th quarter, Holdings Channel.com reports. The fund bought 1,249 shares of the industrial products company’s stock, valued at approximately $374,000.

Several other large investors have also modified their holdings of the stock. 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 acquired a new position in RBC Bearings during the 2nd quarter worth approximately $54,000. Blue Trust Inc. boosted its holdings in RBC Bearings by 541.9% in 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 during the period. Benjamin F. Edwards & Company Inc. grew its position in 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 acquiring an additional 129 shares in the last quarter. Finally, Quarry LP raised its stake in shares of RBC Bearings by 1,003.7% during 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 traded up $3.98 during trading hours on Monday, hitting $298.34. 92,811 shares of the company traded hands, compared to its average volume of 98,487. 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 firm has a 50-day moving average of $316.97 and a 200 day moving average of $297.66. RBC Bearings Incorporated has a twelve month low of $240.36 and a twelve month high of $346.77. The stock has a market capitalization of $9.37 billion, a price-to-earnings ratio of 43.55, a P/E/G 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 EPS 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 business had revenue of $397.90 million during the quarter, compared to analyst estimates of $403.89 million. During the same period in the prior year, the firm posted $2.07 EPS. RBC Bearings’s revenue for the quarter was up 3.2% compared to the same quarter last year. On average, analysts forecast that RBC Bearings Incorporated will post 8.94 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on RBC shares. Truist Financial boosted their price objective on shares of RBC Bearings from $315.00 to $347.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. KeyCorp raised RBC Bearings from a “sector weight” rating to an “overweight” rating and set a $375.00 price objective for the company in a report on Friday, November 22nd. William Blair restated 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 increased their price objective for the stock from $330.00 to $335.00 in a report on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, RBC Bearings has an average rating of “Moderate Buy” and an average 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.