Fred Alger Management Adds $3M in RBC Bearings Incorporated ($RBC)
Key Points
- Fred Alger Management changed its RBC Bearings Incorporated ($RBC) stake by 3.04% last quarter, boosting to 179,134 shares worth $115.37 million.
- Wall Street's consensus rating on $RBC is Buy and an average price target of $634.50.
- $RBC last traded around $644.06.
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Fred Alger Management increased its position in RBC Bearings Incorporated ($RBC) by 3.04% during the most recent quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 179,134 shares of RBC Bearings Incorporated after buying 5,281 shares during the quarter. Fred Alger Management's holdings in RBC Bearings Incorporated were worth $115.37 million as of its most recent filing.
RBC Bearings Incorporated Stock Up 28.7%
Shares of RBC Bearings Incorporated ($RBC) traded around $644.06 on Sunday, up 28.7% for the day.
RBC Bearings Incorporated Earnings
Analysts Set New Price Targets
About RBC Bearings Incorporated
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 that 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. In addition, it offers mounted bearing products include mounted ball bearings, mounted roller bearings, and mounted plain bearings; and enclosed gearing product lines, including quantis gearmotor, torque arm, tigear, magnagear and maxum, and controlled start transmission. Further, the company's power transmission components include mechanical drive components, couplings, and conveyor components; engineered hydraulics and valves for aircraft and submarine applications, and aerospace and defense aftermarket services; fasteners; precision mechanical components, for use in various general industrial applications; and machine tool collets that are used for holding circulars or rod-like pieces. It serves commercial and defense aerospace,, construction, mining, forestry, energy, agricultural, food and beverage, metals and mining material handling, chemicals, oil and gas production, warehousing and logistics, semiconductor equipment, waste and water management, and rail and transportation applications through its direct sales force, and a network of industrial and aerospace distributors. The company was founded in 1919 and is based in Oxford, Connecticut.
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