2,606 Shares in RBC Bearings Incorporated $RBC Acquired by Pinnbrook Capital Management LP

Pinnbrook Capital Management LP bought a new stake in RBC Bearings Incorporated (NYSE:RBC) in the third quarter, HoldingsChannel reports. The fund bought 2,606 shares of the industrial products company’s stock, valued at approximately $1,017,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of RBC. Artisan Partners Limited Partnership purchased a new position in RBC Bearings during the second quarter worth approximately $157,190,000. Norges Bank purchased a new stake in shares of RBC Bearings during the 2nd quarter valued at $137,078,000. Invesco Ltd. grew its stake in shares of RBC Bearings by 60.5% during the 3rd quarter. Invesco Ltd. now owns 381,161 shares of the industrial products company’s stock valued at $148,763,000 after buying an additional 143,710 shares during the period. Frontier Capital Management Co. LLC acquired a new stake in shares of RBC Bearings during the 2nd quarter worth $39,818,000. Finally, First Trust Advisors LP increased its holdings in shares of RBC Bearings by 36.4% during the 3rd quarter. First Trust Advisors LP now owns 352,734 shares of the industrial products company’s stock worth $137,669,000 after buying an additional 94,203 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on RBC shares. Zacks Research upgraded RBC Bearings from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 11th. Wall Street Zen lowered RBC Bearings from a “buy” rating to a “hold” rating in a research note on Sunday, March 8th. Deutsche Bank Aktiengesellschaft set a $527.00 price objective on RBC Bearings and gave the stock a “buy” rating in a report on Wednesday, December 17th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of RBC Bearings in a research note on Monday, December 22nd. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $542.00 target price on shares of RBC Bearings in a report on Monday, February 9th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, RBC Bearings currently has an average rating of “Buy” and a consensus price target of $574.67.

RBC Bearings Stock Down 1.9%

Shares of RBC Bearings stock opened at $536.64 on Friday. RBC Bearings Incorporated has a twelve month low of $297.28 and a twelve month high of $589.16. The stock has a market cap of $16.97 billion, a price-to-earnings ratio of 63.13, a price-to-earnings-growth ratio of 3.07 and a beta of 1.47. The company has a current ratio of 1.86, a quick ratio of 0.67 and a debt-to-equity ratio of 0.22. The company has a fifty day moving average price of $529.21 and a 200 day moving average price of $454.08.

RBC Bearings (NYSE:RBC) last released its quarterly earnings data on Thursday, February 5th. The industrial products company reported $3.04 EPS for the quarter, beating the consensus estimate of $2.83 by $0.21. The company had revenue of $461.60 million for the quarter, compared to analyst estimates of $460.69 million. RBC Bearings had a return on equity of 10.86% and a net margin of 15.00%.The firm’s revenue was up 17.0% compared to the same quarter last year. During the same period last year, the company posted $2.34 earnings per share. Equities research analysts forecast that RBC Bearings Incorporated will post 9.16 earnings per share for the current fiscal year.

RBC Bearings Profile

RBC Bearings Incorporated is a global designer, manufacturer and marketer of highly engineered precision bearings and components for extreme applications. The company’s product portfolio includes cylindrical roller bearings, spherical plain bearings, ball bearings, track rollers, and engineered components such as metal-to-metal and polymer bearings. These products are tailored to meet the demanding requirements of aerospace, defense and industrial customers where reliability under severe conditions is critical.

The company’s bearings and components find application in aircraft engines, auxiliary power units, landing gear systems, space and missile programs, industrial gas turbines, oil and gas drilling equipment, and heavy machinery.