Zions Bancorporation National Association UT Has $2.95 Million Holdings in RBC Bearings Incorporated $RBC

Zions Bancorporation National Association UT lowered its position in shares of RBC Bearings Incorporated (NYSE:RBC) by 12.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,554 shares of the industrial products company’s stock after selling 1,121 shares during the period. Zions Bancorporation National Association UT’s holdings in RBC Bearings were worth $2,948,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Advisors Asset Management Inc. acquired a new stake in shares of RBC Bearings in the first quarter valued at about $26,000. Root Financial Partners LLC bought a new position in RBC Bearings during the 3rd quarter worth approximately $36,000. Hantz Financial Services Inc. boosted its stake in shares of RBC Bearings by 1,257.1% in the 2nd quarter. Hantz Financial Services Inc. now owns 95 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 88 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in RBC Bearings by 123.3% during the second quarter. EverSource Wealth Advisors LLC now owns 96 shares of the industrial products company’s stock worth $37,000 after buying an additional 53 shares during the last quarter. Finally, Quent Capital LLC acquired a new position in RBC Bearings in the third quarter valued at $38,000.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on RBC shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of RBC Bearings in a research note on Monday, December 22nd. Zacks Research raised RBC Bearings from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 11th. Bank of America upgraded RBC Bearings from a “neutral” rating to a “buy” rating and increased their target price for the stock from $390.00 to $500.00 in a report on Thursday, November 6th. Morgan Stanley restated an “overweight” rating and set a $600.00 price target on shares of RBC Bearings in a research note on Friday, February 6th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $542.00 price objective on shares of RBC Bearings in a research note on Monday, February 9th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $560.50.

RBC Bearings Stock Up 0.6%

RBC Bearings stock opened at $553.75 on Monday. RBC Bearings Incorporated has a twelve month low of $297.28 and a twelve month high of $563.51. The firm has a 50 day moving average price of $485.85 and a 200-day moving average price of $432.04. The company has a market capitalization of $17.51 billion, a P/E ratio of 65.15, a P/E/G ratio of 3.11 and a beta of 1.52. The company has a quick ratio of 0.67, a current ratio of 1.86 and a debt-to-equity ratio of 0.22.

RBC Bearings (NYSE:RBC) last posted its earnings results on Thursday, February 5th. The industrial products company reported $3.04 earnings per share for the quarter, topping the consensus estimate of $2.83 by $0.21. The firm had revenue of $461.60 million during the quarter, compared to the consensus estimate of $460.69 million. RBC Bearings had a net margin of 15.00% and a return on equity of 10.86%. The company’s revenue was up 17.0% on a year-over-year basis. During the same quarter last year, the company earned $2.34 earnings per share. As a group, equities analysts predict that RBC Bearings Incorporated will post 9.16 EPS for the current 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.