RBC Bearings Incorporated $RBC Holdings Lowered by Curated Wealth Partners LLC

Curated Wealth Partners LLC trimmed its holdings in RBC Bearings Incorporated (NYSE:RBC) by 94.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,612 shares of the industrial products company’s stock after selling 29,385 shares during the period. Curated Wealth Partners LLC’s holdings in RBC Bearings were worth $805,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also bought and sold shares of RBC. Western Wealth Management LLC purchased a new position in RBC Bearings during the first quarter worth approximately $27,000. Toth Financial Advisory Corp acquired a new stake in RBC Bearings during the third quarter worth about $25,000. Millstone Evans Group LLC boosted its holdings in RBC Bearings by 45.3% in the 1st 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 during the last quarter. Basecamp Wealth Advisors LLC lifted its holdings 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 acquiring an additional 34 shares during the last quarter. Finally, Ashurst Perkins Coie Trust Co purchased a new stake in RBC Bearings in the third quarter valued at $63,000.

RBC Bearings Stock Performance

Shares of RBC Bearings stock opened at $498.97 on Friday. 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 Incorporated has a 52 week low of $364.50 and a 52 week high of $667.69. The firm’s 50 day moving average is $508.11 and its two-hundred day moving average is $561.46. The firm has a market capitalization of $15.80 billion, a P/E ratio of 49.31, a P/E/G ratio of 2.69 and a beta of 1.38.

RBC Bearings (NYSE:RBC) last announced its quarterly 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. RBC Bearings had a net margin of 16.40% and a return on equity of 12.06%. The firm had revenue of $519.50 million for the quarter, compared to analyst estimates of $508.92 million. During the same period last year, the business earned $2.84 EPS. RBC Bearings’s revenue for the quarter was up 19.2% compared to the same quarter last year. Research analysts forecast that RBC Bearings Incorporated will post 14.03 EPS for the current fiscal year.

Analysts Set New Price Targets

RBC has been the topic of several research analyst reports. Wall Street Zen lowered shares of RBC Bearings from a “buy” rating to a “hold” rating in a report on Saturday, August 22nd. Truist Financial lifted their price objective on RBC Bearings from $615.00 to $646.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Guggenheim began coverage on RBC Bearings in a research report on Monday, September 14th. They issued a “buy” rating and a $600.00 target price for the company. Raymond James Financial upgraded shares of RBC Bearings from a “market perform” rating to an “outperform” rating and set a $645.00 price target on the stock in a research note on Monday, August 3rd. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $686.00 price target on shares of RBC Bearings in a research report on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $615.44.

RBC Bearings Company Profile

RBC Bearings Incorporated designs and manufactures highly engineered bearings and related components for demanding aerospace, defense and industrial applications. Its products are used in systems that require precision, reliability and resistance to extreme operating conditions.

The company’s product portfolio includes plain bearings, roller bearings, ball bearings, rod ends, spherical bearings, precision components and other motion-control products. These products support applications such as aircraft structures and flight controls, aircraft engines, landing systems, space systems, military equipment, construction machinery, energy equipment and other industrial systems.

Founded in 1919, RBC Bearings serves original equipment manufacturers and aftermarket customers through operations and sales channels in North America, Europe and Asia.