Argent Capital Management LLC Acquires 1,123 Shares of RBC Bearings Incorporated (NYSE:RBC)

Argent Capital Management LLC grew its position in shares of RBC Bearings Incorporated (NYSE:RBC) by 33.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,521 shares of the industrial products company’s stock after purchasing an additional 1,123 shares during the period. Argent Capital Management LLC’s holdings in RBC Bearings were worth $1,352,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. UMB Bank n.a. grew its holdings in shares of RBC Bearings by 416.7% in the third quarter. UMB Bank n.a. now owns 93 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 75 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in RBC Bearings in the second quarter worth about $54,000. Benjamin F. Edwards & Company Inc. raised its stake in RBC Bearings by 80.1% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 290 shares of the industrial products company’s stock worth $78,000 after acquiring an additional 129 shares during the last quarter. Blue Trust Inc. boosted its position in RBC Bearings by 541.9% in the third quarter. Blue Trust Inc. now owns 276 shares of the industrial products company’s stock valued at $83,000 after buying an additional 233 shares during the last quarter. Finally, Quarry LP increased its stake in shares of RBC Bearings by 1,003.7% in the third quarter. Quarry LP now owns 298 shares of the industrial products company’s stock worth $89,000 after acquiring an additional 271 shares during the period.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. KeyCorp upgraded shares of RBC Bearings from a “sector weight” rating to an “overweight” rating and set a $375.00 target price for the company in a research note on Friday, November 22nd. William Blair reaffirmed an “outperform” rating on shares of RBC Bearings in a report on Tuesday, November 26th. Bank of America cut shares of RBC Bearings from a “buy” rating to a “neutral” rating and boosted their price target for the company from $330.00 to $335.00 in a research report on Thursday, November 21st. Finally, Truist Financial upped their target price on shares of RBC Bearings from $347.00 to $351.00 and gave the company a “buy” rating in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $325.33.

RBC Bearings Price Performance

RBC stock opened at $306.15 on Thursday. The firm has a 50 day moving average of $317.37 and a 200-day moving average of $298.15. RBC Bearings Incorporated has a 12-month low of $240.36 and a 12-month high of $346.77. The company has a current ratio of 3.48, a quick ratio of 1.28 and a debt-to-equity ratio of 0.38. The company has a market cap of $9.62 billion, a price-to-earnings ratio of 44.69, a PEG ratio of 4.04 and a beta of 1.57.

RBC Bearings (NYSE:RBC) last released its earnings results on Friday, November 1st. The industrial products company reported $2.29 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.01). The firm had revenue of $397.90 million during the quarter, compared to analysts’ expectations of $403.89 million. RBC Bearings had a return on equity of 9.88% and a net margin of 14.06%. The firm’s revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the firm posted $2.07 earnings per share. As a group, equities analysts expect that RBC Bearings Incorporated will post 8.94 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.