Lecap Asset Management Ltd. Purchases New Stake in RBC Bearings Incorporated $RBC

Lecap Asset Management Ltd. purchased a new stake in RBC Bearings Incorporated (NYSE:RBC) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,012 shares of the industrial products company’s stock, valued at approximately $454,000.

Other institutional investors have also recently modified their holdings of the company. Advisors Asset Management Inc. purchased a new stake in shares of RBC Bearings in the first quarter valued at approximately $26,000. Larson Financial Group LLC boosted its stake in shares of RBC Bearings by 148.5% in the third quarter. Larson Financial Group LLC now owns 82 shares of the industrial products company’s stock valued at $32,000 after buying an additional 49 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of RBC Bearings in the fourth quarter valued at approximately $35,000. Root Financial Partners LLC purchased a new stake in shares of RBC Bearings in the third quarter valued at approximately $36,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of RBC Bearings by 123.3% in the second quarter. EverSource Wealth Advisors LLC now owns 96 shares of the industrial products company’s stock valued at $37,000 after buying an additional 53 shares in the last quarter.

Analysts Set New Price Targets

RBC has been the topic of a number of analyst reports. KeyCorp lifted their price target on RBC Bearings from $595.00 to $680.00 and gave the company an “overweight” rating in a research note on Monday, March 2nd. Morgan Stanley reiterated an “overweight” rating and set a $600.00 target price on shares of RBC Bearings in a research report on Friday, February 6th. Truist Financial boosted their target price on RBC Bearings from $542.00 to $599.00 and gave the stock a “buy” rating in a research report on Friday, February 6th. Zacks Research upgraded RBC Bearings from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 11th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of RBC Bearings in a research report on Monday, December 22nd. One investment 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 company’s stock. According to MarketBeat, RBC Bearings presently has a consensus rating of “Buy” and an average price target of $574.67.

RBC Bearings Stock Up 0.2%

RBC opened at $591.08 on Monday. The business’s fifty day moving average is $559.28 and its two-hundred day moving average is $485.77. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.67 and a current ratio of 1.86. The company has a market cap of $18.69 billion, a price-to-earnings ratio of 69.54, a PEG ratio of 2.82 and a beta of 1.49. RBC Bearings Incorporated has a one year low of $310.95 and a one year high of $603.67.

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

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.