Fulcrum Asset Management LLP Acquires 2,214 Shares of RBC Bearings Incorporated $RBC

Fulcrum Asset Management LLP acquired a new stake in RBC Bearings Incorporated (NYSE:RBC) during the third quarter, Holdings Channel.com reports. The institutional investor acquired 2,214 shares of the industrial products company’s stock, valued at approximately $1,111,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in RBC. Assetmark Inc. raised its position in shares of RBC Bearings by 3.5% during the first quarter. Assetmark Inc. now owns 557 shares of the industrial products company’s stock worth $303,000 after acquiring an additional 19 shares during the last quarter. Net Worth Advisory Group lifted its stake in shares of RBC Bearings by 4.5% during the third quarter. Net Worth Advisory Group now owns 552 shares of the industrial products company’s stock valued at $281,000 after acquiring an additional 24 shares during the period. Oregon Public Employees Retirement Fund lifted its stake in shares of RBC Bearings by 0.4% during the third quarter. Oregon Public Employees Retirement Fund now owns 6,540 shares of the industrial products company’s stock valued at $3,265,000 after acquiring an additional 28 shares during the period. Ethic Inc. boosted its holdings in RBC Bearings by 7.1% in the third quarter. Ethic Inc. now owns 439 shares of the industrial products company’s stock valued at $219,000 after acquiring an additional 29 shares during the last quarter. Finally, Wedmont Private Capital boosted its holdings in RBC Bearings by 5.0% in the second quarter. Wedmont Private Capital now owns 667 shares of the industrial products company’s stock valued at $397,000 after acquiring an additional 32 shares during the last quarter.

RBC Bearings Stock Up 0.8%

NYSE:RBC opened at $494.93 on Thursday. RBC Bearings Incorporated has a 12-month low of $418.05 and a 12-month high of $667.69. The company has a quick ratio of 1.16, a current ratio of 3.13 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $15.67 billion, a P/E ratio of 44.27, a P/E/G ratio of 2.35 and a beta of 1.39. The stock’s fifty day simple moving average is $493.29 and its 200-day simple moving average is $550.58.

RBC Bearings (NYSE:RBC) last announced its quarterly earnings data on Friday, October 30th. The industrial products company reported $3.74 EPS for the quarter, topping analysts’ consensus estimates of $3.53 by $0.21. The business had revenue of $524.60 million during the quarter, compared to analysts’ expectations of $513.95 million. RBC Bearings had a return on equity of 12.50% and a net margin of 17.51%. The firm’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.88 earnings per share. Equities research analysts expect that RBC Bearings Incorporated will post 14.14 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Deutsche Bank reiterated a “buy” rating and issued a $686.00 price objective on shares of RBC Bearings in a research report on Tuesday, August 4th. Wall Street Zen downgraded shares of RBC Bearings from a “buy” rating to a “hold” rating in a research report on Saturday, August 22nd. Royal Bank Of Canada set a $600.00 target price on shares of RBC Bearings in a research note on Monday, September 14th. The Goldman Sachs Group reiterated a “neutral” rating and set a $530.00 price target on shares of RBC Bearings in a research report on Monday, November 2nd. Finally, Guggenheim assumed coverage on shares of RBC Bearings in a research note on Monday, September 14th. They set a “buy” rating and a $600.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, RBC Bearings currently has a consensus rating of “Moderate Buy” and a consensus target price of $623.38.

RBC Bearings Company Profile

RBC Bearings Incorporated designs and manufactures precision bearings and other engineered components for aerospace, defense and industrial applications. Its products include plain, roller and ball bearings, spherical bearings, rod ends and related motion-control components. The company’s products are used in aircraft and defense systems as well as equipment across industries such as construction, energy, transportation and automation. RBC Bearings serves customers worldwide. The company traces its roots to 1919 and has grown through product development and acquisitions.