RBC Bearings Incorporated $RBC Stock Bought by Machina Capital S.A.S.

Machina Capital S.A.S. boosted its position in shares of RBC Bearings Incorporated (NYSE:RBC) by 67.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 4,034 shares of the industrial products company’s stock after buying an additional 1,621 shares during the period. Machina Capital S.A.S.’s holdings in RBC Bearings were worth $2,014,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Gryphon Financial Partners LLC purchased a new position in shares of RBC Bearings during the third quarter valued at $224,000. Clear Wave Wealth Management LLC lifted its stake in RBC Bearings by 7.2% in the third quarter. Clear Wave Wealth Management LLC now owns 448 shares of the industrial products company’s stock worth $224,000 after acquiring an additional 30 shares during the period. Fulcrum Asset Management LLP purchased a new stake in RBC Bearings in the third quarter worth about $1,111,000. Ethic Inc. grew its holdings in RBC Bearings by 7.1% during the 3rd quarter. Ethic Inc. now owns 439 shares of the industrial products company’s stock worth $219,000 after acquiring an additional 29 shares in the last quarter. Finally, Alps Advisors Inc. grew its holdings in RBC Bearings by 14.5% during the 3rd quarter. Alps Advisors Inc. now owns 3,164 shares of the industrial products company’s stock worth $1,580,000 after acquiring an additional 401 shares in the last quarter.

RBC Bearings Stock Down 1.1%

Shares of RBC stock opened at $488.98 on Friday. RBC Bearings Incorporated has a fifty-two week low of $418.05 and a fifty-two week high of $667.69. The firm has a market capitalization of $15.48 billion, a PE ratio of 43.74, a P/E/G ratio of 2.37 and a beta of 1.39. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.16 and a current ratio of 3.13. The stock’s 50-day simple moving average is $493.24 and its 200-day simple moving average is $550.50.

RBC Bearings (NYSE:RBC) last released its earnings results 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 firm had revenue of $524.60 million during the quarter, compared to the consensus estimate of $513.95 million. RBC Bearings had a return on equity of 12.50% and a net margin of 17.51%. The company’s revenue was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.88 earnings per share. Equities analysts expect that RBC Bearings Incorporated will post 14.14 earnings per share for the current year.

Analyst Ratings Changes

RBC has been the subject of several research reports. Raymond James Financial raised shares of RBC Bearings from a “market perform” rating to an “outperform” rating and set a $645.00 price target for the company in a research report on Monday, August 3rd. Weiss Ratings lowered RBC Bearings from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, August 27th. Wall Street Zen cut RBC Bearings from a “buy” rating to a “hold” rating in a research report on Saturday, August 22nd. The Goldman Sachs Group reissued a “neutral” rating and issued a $530.00 price target on shares of RBC Bearings in a research report on Monday, November 2nd. Finally, Truist Financial raised their price target on shares of RBC Bearings from $615.00 to $646.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $623.38.

RBC Bearings 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.