Chesapeake Capital Corp IL Takes $1.25 Million Position in RBC Bearings Incorporated (NYSE:RBC)

Chesapeake Capital Corp IL purchased a new stake in RBC Bearings Incorporated (NYSE:RBC) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 4,369 shares of the industrial products company’s stock, valued at approximately $1,245,000. RBC Bearings accounts for about 0.9% of Chesapeake Capital Corp IL’s investment portfolio, making the stock its 22nd biggest holding.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Principal Securities Inc. bought a new position in shares of RBC Bearings in the 4th quarter valued at $30,000. Operose Advisors LLC acquired a new stake in shares of RBC Bearings during the 3rd quarter valued at $45,000. GAMMA Investing LLC acquired a new stake in shares of RBC Bearings during the 4th quarter valued at $66,000. RiverPark Advisors LLC acquired a new stake in shares of RBC Bearings during the 3rd quarter valued at $69,000. Finally, Covestor Ltd boosted its holdings in shares of RBC Bearings by 17.6% during the 3rd quarter. Covestor Ltd now owns 507 shares of the industrial products company’s stock valued at $119,000 after acquiring an additional 76 shares in the last quarter.

Analysts Set New Price Targets

RBC has been the topic of several recent research reports. Morgan Stanley raised their price objective on RBC Bearings from $310.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday. The Goldman Sachs Group raised their price objective on RBC Bearings from $245.00 to $276.00 and gave the company a “neutral” rating in a report on Tuesday, May 21st. Citigroup raised their price objective on RBC Bearings from $250.00 to $285.00 and gave the company a “neutral” rating in a report on Monday, February 12th. Finally, Truist Financial lifted their target price on RBC Bearings from $309.00 to $328.00 and gave the stock a “buy” rating in a report on Tuesday, May 21st. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $286.57.

RBC Bearings Trading Down 0.5 %

RBC traded down $1.33 during midday trading on Friday, hitting $291.52. 166,293 shares of the company were exchanged, compared to its average volume of 190,639. The firm has a market capitalization of $8.43 billion, a P/E ratio of 45.55, a P/E/G ratio of 3.56 and a beta of 1.46. RBC Bearings Incorporated has a 1-year low of $195.18 and a 1-year high of $298.49. The firm’s 50 day moving average price is $263.41 and its 200-day moving average price is $265.21. The company has a quick ratio of 1.12, a current ratio of 3.28 and a debt-to-equity ratio of 0.43.

RBC Bearings (NYSE:RBC) last announced its quarterly earnings data on Friday, May 17th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.25 by $0.22. The company had revenue of $413.70 million for the quarter, compared to the consensus estimate of $414.21 million. RBC Bearings had a return on equity of 9.81% and a net margin of 13.45%. The firm’s revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the business earned $2.06 EPS. As a group, equities analysts forecast that RBC Bearings Incorporated will post 8.95 EPS for the current fiscal year.

RBC Bearings Company Profile

RBC Bearings Incorporated manufactures and markets engineered precision bearings, components, and systems in the United States and internationally. It operates through two segments, Aerospace/Defense and Industrial. The company produces plain bearings with self-lubricating or metal-to-metal designs, including rod end bearings, spherical plain bearings, and journal bearings; roller bearings, such as tapered roller bearings, needle roller bearings, and needle bearing track rollers and cam followers, which are anti-friction products that are used in industrial applications and military aircraft platforms; and ball bearings include high precision aerospace, airframe control, thin section, and industrial ball bearings that utilize high precision ball elements to reduce friction in high-speed applications.