RBC Bearings Incorporated (NYSE:RBC) is Bridge City Capital LLC’s 4th Largest Position

Bridge City Capital LLC boosted its holdings in shares of RBC Bearings Incorporated (NYSE:RBC) by 0.3% during the first quarter, HoldingsChannel.com reports. The firm owned 23,857 shares of the industrial products company’s stock after purchasing an additional 61 shares during the period. RBC Bearings makes up approximately 2.3% of Bridge City Capital LLC’s holdings, making the stock its 4th largest holding. Bridge City Capital LLC’s holdings in RBC Bearings were worth $7,676,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Norges Bank acquired a new position in shares of RBC Bearings during the 4th quarter worth about $88,184,000. Raymond James Financial Inc. purchased a new stake in RBC Bearings during the 4th quarter worth approximately $71,324,000. Vanguard Group Inc. raised its holdings in shares of RBC Bearings by 8.5% during the fourth quarter. Vanguard Group Inc. now owns 2,938,923 shares of the industrial products company’s stock valued at $879,149,000 after acquiring an additional 229,466 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of RBC Bearings by 38,860.9% in the first quarter. GAMMA Investing LLC now owns 201,428 shares of the industrial products company’s stock valued at $64,813,000 after acquiring an additional 200,911 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in RBC Bearings by 32.6% in the 4th quarter. Ameriprise Financial Inc. now owns 534,881 shares of the industrial products company’s stock valued at $159,998,000 after purchasing an additional 131,614 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley reaffirmed an “overweight” rating and set a $415.00 target price (up previously from $390.00) on shares of RBC Bearings in a report on Tuesday, May 20th. Truist Financial reaffirmed a “buy” rating and set a $405.00 price objective (up previously from $375.00) on shares of RBC Bearings in a research note on Monday, May 19th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $387.50.

RBC Bearings Stock Up 0.9%

Shares of RBC opened at $381.47 on Monday. RBC Bearings Incorporated has a 52-week low of $260.53 and a 52-week high of $386.41. The company has a quick ratio of 1.18, a current ratio of 3.43 and a debt-to-equity ratio of 0.34. The stock has a fifty day simple moving average of $344.33 and a two-hundred day simple moving average of $336.49. The company has a market capitalization of $11.98 billion, a PE ratio of 52.40, a price-to-earnings-growth ratio of 4.42 and a beta of 1.66.

RBC Bearings (NYSE:RBC) last announced its quarterly earnings data on Friday, May 16th. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.70 by $0.13. RBC Bearings had a net margin of 14.59% and a return on equity of 10.06%. The firm had revenue of $437.70 million during the quarter, compared to analyst estimates of $440.26 million. During the same quarter in the prior year, the firm posted $2.47 earnings per share. RBC Bearings’s quarterly revenue was up 5.8% on a year-over-year basis. As a group, equities analysts forecast that RBC Bearings Incorporated will post 9.16 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.