Natixis Advisors LLC Has $29.92 Million Position in RBC Bearings Incorporated $RBC

Natixis Advisors LLC lowered its holdings in shares of RBC Bearings Incorporated (NYSE:RBC) by 11.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,710 shares of the industrial products company’s stock after selling 8,711 shares during the quarter. Natixis Advisors LLC owned 0.21% of RBC Bearings worth $29,915,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of RBC. Advisors Asset Management Inc. acquired a new stake in shares of RBC Bearings during the first quarter worth about $26,000. AQR Capital Management LLC raised its position in shares of RBC Bearings by 27.8% during the first quarter. AQR Capital Management LLC now owns 1,297 shares of the industrial products company’s stock worth $417,000 after purchasing an additional 282 shares during the period. Integrated Wealth Concepts LLC raised its position in shares of RBC Bearings by 32.7% during the first quarter. Integrated Wealth Concepts LLC now owns 1,229 shares of the industrial products company’s stock worth $395,000 after purchasing an additional 303 shares during the period. Jones Financial Companies Lllp raised its position in shares of RBC Bearings by 64.1% during the first quarter. Jones Financial Companies Lllp now owns 1,111 shares of the industrial products company’s stock worth $357,000 after purchasing an additional 434 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in shares of RBC Bearings by 2.0% during the first quarter. Goldman Sachs Group Inc. now owns 211,744 shares of the industrial products company’s stock worth $68,133,000 after purchasing an additional 4,253 shares during the period.

RBC Bearings Stock Up 0.9%

Shares of RBC Bearings stock opened at $589.42 on Friday. The business’s 50 day simple moving average is $580.01 and its 200 day simple moving average is $527.30. RBC Bearings Incorporated has a 52-week low of $363.05 and a 52-week high of $632.00. The firm has a market cap of $18.65 billion, a PE ratio of 64.84, a P/E/G ratio of 3.38 and a beta of 1.42. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.78 and a current ratio of 2.18.

RBC Bearings (NYSE:RBC) last announced its earnings results on Friday, May 15th. The industrial products company reported $3.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.31 by $0.31. The business had revenue of $518.00 million for the quarter, compared to analyst estimates of $505.90 million. RBC Bearings had a return on equity of 11.35% and a net margin of 15.37%.RBC Bearings’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.83 EPS. On average, analysts predict that RBC Bearings Incorporated will post 13.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on RBC shares. Wall Street Zen lowered RBC Bearings from a “buy” rating to a “hold” rating in a research report on Sunday, April 12th. Truist Financial reissued a “buy” rating and issued a $615.00 target price (up from $599.00) on shares of RBC Bearings in a research report on Tuesday, May 19th. The Goldman Sachs Group reissued a “neutral” rating and issued a $542.00 target price on shares of RBC Bearings in a research report on Monday, February 9th. Morgan Stanley lifted their target price on RBC Bearings from $600.00 to $640.00 and gave the company an “overweight” rating in a research report on Tuesday, May 19th. Finally, Weiss Ratings raised RBC Bearings from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, May 19th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $584.00.

RBC Bearings Company 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.