Mountain Pacific Investment Advisers LLC Sells 914 Shares of RBC Bearings Incorporated (NYSE:RBC)

Mountain Pacific Investment Advisers LLC decreased its position in shares of RBC Bearings Incorporated (NYSE:RBC) by 1.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 90,430 shares of the industrial products company’s stock after selling 914 shares during the period. RBC Bearings comprises about 1.9% of Mountain Pacific Investment Advisers LLC’s holdings, making the stock its 23rd largest holding. Mountain Pacific Investment Advisers LLC owned about 0.29% of RBC Bearings worth $27,051,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jane Street Group LLC grew its stake in shares of RBC Bearings by 18.5% in the 3rd quarter. Jane Street Group LLC now owns 16,536 shares of the industrial products company’s stock worth $4,951,000 after buying an additional 2,584 shares during the last quarter. Segall Bryant & Hamill LLC raised its stake in RBC Bearings by 41.6% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 29,715 shares of the industrial products company’s stock valued at $8,896,000 after buying an additional 8,725 shares during the last quarter. TimesSquare Capital Management LLC increased its position in RBC Bearings by 17.3% during the third quarter. TimesSquare Capital Management LLC now owns 90,605 shares of the industrial products company’s stock valued at $27,125,000 after acquiring an additional 13,395 shares during the last quarter. Holocene Advisors LP lifted its stake in shares of RBC Bearings by 69.4% in the 3rd quarter. Holocene Advisors LP now owns 12,396 shares of the industrial products company’s stock worth $3,711,000 after purchasing an additional 5,078 shares during the period. Finally, State Street Corp raised its position in RBC Bearings by 2.4% in the third quarter. State Street Corp now owns 845,175 shares of the industrial products company’s stock worth $253,028,000 after acquiring an additional 19,962 shares during the period.

Wall Street Analyst Weigh In

Several research analysts have recently commented on RBC shares. Truist Financial raised their price objective on RBC Bearings from $347.00 to $351.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. KeyCorp raised shares of 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 cut RBC Bearings from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $330.00 to $335.00 in a research note on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, RBC Bearings currently has an average rating of “Moderate Buy” and a consensus price target of $325.33.

RBC Bearings Trading Up 0.9 %

RBC stock opened at $312.19 on Tuesday. The firm’s 50-day moving average is $316.89 and its 200 day moving average is $299.18. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.48 and a quick ratio of 1.28. RBC Bearings Incorporated has a 12 month low of $240.36 and a 12 month high of $346.77. The company has a market capitalization of $9.81 billion, a PE ratio of 45.58, a P/E/G ratio of 4.30 and a beta of 1.57.

RBC Bearings (NYSE:RBC) last released 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 firm had revenue of $397.90 million during the quarter, compared to the consensus estimate of $403.89 million. During the same quarter in the previous year, the firm earned $2.07 earnings per share. The business’s revenue was up 3.2% compared to the same quarter last year. On average, research analysts anticipate that RBC Bearings Incorporated will post 8.91 EPS for the current year.

RBC Bearings 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.