RBC Bearings Incorporated $RBC Stock Position Increased by Pinnbrook Capital Management LP

Pinnbrook Capital Management LP lifted its position in RBC Bearings Incorporated (NYSE:RBC) by 911.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 26,355 shares of the industrial products company’s stock after buying an additional 23,749 shares during the quarter. RBC Bearings makes up approximately 1.7% of Pinnbrook Capital Management LP’s investment portfolio, making the stock its 14th largest position. Pinnbrook Capital Management LP’s holdings in RBC Bearings were worth $11,818,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Global Retirement Partners LLC raised its stake in shares of RBC Bearings by 344.7% in the 4th quarter. Global Retirement Partners LLC now owns 1,223 shares of the industrial products company’s stock worth $548,000 after buying an additional 948 shares in the last quarter. IFP Advisors Inc raised its stake in shares of RBC Bearings by 49.8% in the 4th quarter. IFP Advisors Inc now owns 436 shares of the industrial products company’s stock worth $196,000 after buying an additional 145 shares in the last quarter. Larson Financial Group LLC raised its stake in shares of RBC Bearings by 45.1% in the 4th quarter. Larson Financial Group LLC now owns 119 shares of the industrial products company’s stock worth $53,000 after buying an additional 37 shares in the last quarter. TimesSquare Capital Management LLC raised its position in shares of RBC Bearings by 28.2% during the fourth quarter. TimesSquare Capital Management LLC now owns 90,579 shares of the industrial products company’s stock worth $40,618,000 after purchasing an additional 19,916 shares during the period. Finally, North Dakota State Investment Board acquired a new stake in shares of RBC Bearings during the fourth quarter worth $489,000.

RBC Bearings Stock Performance

Shares of NYSE RBC opened at $566.13 on Friday. The business’s 50-day moving average price is $573.86 and its two-hundred day moving average price is $517.38. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.18 and a quick ratio of 0.78. RBC Bearings Incorporated has a one year low of $351.19 and a one year high of $632.00. The company has a market capitalization of $17.91 billion, a P/E ratio of 62.28, a price-to-earnings-growth ratio of 3.29 and a beta of 1.47.

RBC Bearings (NYSE:RBC) last issued its earnings results on Friday, May 15th. The industrial products company reported $3.62 EPS for the quarter, beating analysts’ consensus estimates of $3.31 by $0.31. RBC Bearings had a return on equity of 11.35% and a net margin of 15.37%.The firm had revenue of $518.00 million for the quarter, compared to the consensus estimate of $505.90 million. During the same quarter in the previous year, the company posted $2.83 earnings per share. The business’s quarterly revenue was up 18.3% compared to the same quarter last year. Analysts anticipate that RBC Bearings Incorporated will post 13.64 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on RBC shares. Weiss Ratings raised RBC Bearings from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $542.00 target price on shares of RBC Bearings in a research report on Monday, February 9th. Wall Street Zen lowered RBC Bearings from a “buy” rating to a “hold” rating in a research report on Sunday, April 12th. Morgan Stanley boosted their target price on RBC Bearings from $600.00 to $640.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Truist Financial reaffirmed a “buy” rating and set a $615.00 target price (up from $599.00) on shares of RBC Bearings in a research report on Tuesday. One research 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. According to MarketBeat.com, RBC Bearings currently has an average rating of “Buy” and an average target price of $584.00.

RBC Bearings 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.