1,313 Shares of RBC Bearings Incorporated $RBC Acquired by NBT Bank N.A.

NBT Bank N.A. acquired a new position in shares of RBC Bearings Incorporated (NYSE:RBC) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,313 shares of the industrial products company’s stock, valued at approximately $655,000.

Several other hedge funds also recently modified their holdings of the stock. Western Wealth Management LLC bought a new stake in RBC Bearings during the first quarter worth about $27,000. Toth Financial Advisory Corp bought a new position in RBC Bearings in the third quarter valued at approximately $25,000. Millstone Evans Group LLC grew its stake in RBC Bearings by 45.3% in the first quarter. Millstone Evans Group LLC now owns 77 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 24 shares in the last quarter. Basecamp Wealth Advisors LLC grew its stake in RBC Bearings by 49.3% in the first quarter. Basecamp Wealth Advisors LLC now owns 103 shares of the industrial products company’s stock valued at $56,000 after purchasing an additional 34 shares in the last quarter. Finally, Ashurst Perkins Coie Trust Co acquired a new position in shares of RBC Bearings during the 3rd quarter worth approximately $63,000.

RBC Bearings Price Performance

NYSE:RBC opened at $470.84 on Friday. RBC Bearings Incorporated has a 12-month low of $401.90 and a 12-month high of $667.69. The firm has a market capitalization of $14.91 billion, a price-to-earnings ratio of 46.53, a P/E/G ratio of 2.58 and a beta of 1.38. The stock’s 50 day moving average price is $500.26 and its two-hundred day moving average price is $559.19. The company has a quick ratio of 0.98, a current ratio of 2.53 and a debt-to-equity ratio of 0.21.

RBC Bearings (NYSE:RBC) last issued its earnings results on Friday, July 31st. The industrial products company reported $3.88 EPS for the quarter, topping the consensus estimate of $3.42 by $0.46. The company had revenue of $519.50 million during the quarter, compared to the consensus estimate of $508.92 million. RBC Bearings had a return on equity of 12.06% and a net margin of 16.40%. The firm’s revenue for the quarter was up 19.2% compared to the same quarter last year. During the same period in the previous year, the company posted $2.84 EPS. On average, analysts anticipate that RBC Bearings Incorporated will post 14.03 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Raymond James Financial upgraded RBC Bearings from a “market perform” rating to an “outperform” rating and set a $645.00 price objective on the stock in a research note on Monday, August 3rd. Truist Financial raised their target price on shares of RBC Bearings from $615.00 to $646.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Weiss Ratings downgraded shares of RBC Bearings from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, August 27th. Wall Street Zen lowered shares of RBC Bearings from a “buy” rating to a “hold” rating in a research report on Saturday, August 22nd. Finally, Guggenheim assumed coverage on shares of RBC Bearings in a research report on Monday, September 14th. They set a “buy” rating and a $600.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $615.44.

About RBC Bearings

RBC Bearings Incorporated is a manufacturer of highly engineered bearing and motion-control products. Founded in 1919 and headquartered in Oxford, Connecticut, the company serves original equipment manufacturers and aftermarket customers that require components designed for demanding operating environments.

Its product portfolio includes plain bearings, roller bearings, ball bearings, rod ends, spherical bearings, thrust bearings, and related precision components. These products are used in applications involving load support, friction reduction, positioning, and motion control across aerospace and defense, industrial equipment, construction, transportation, energy, and other specialized markets.

RBC Bearings sells its products through a combination of direct sales, distributors, and customer-specific manufacturing programs.