Mutual of America Capital Management LLC Has $5.12 Million Stake in RBC Bearings Incorporated (NYSE:RBC)

Mutual of America Capital Management LLC cut its position in shares of RBC Bearings Incorporated (NYSE:RBC) by 4.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 17,971 shares of the industrial products company’s stock after selling 915 shares during the quarter. Mutual of America Capital Management LLC’s holdings in RBC Bearings were worth $5,120,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of RBC. First Capital Advisors Group LLC. acquired a new position in RBC Bearings in the second quarter valued at approximately $26,000. LWM Advisory Services LLC bought a new position in RBC Bearings during the third quarter worth $31,000. Compass Wealth Management LLC bought a new position in RBC Bearings during the first quarter worth $34,000. Stephens Inc. AR acquired a new stake in RBC Bearings in the first quarter worth $36,000. Finally, First Manhattan CO. LLC. bought a new stake in RBC Bearings in the first quarter valued at $40,000.

RBC Bearings Stock Performance

Shares of RBC opened at $254.74 on Monday. RBC Bearings Incorporated has a 52 week low of $195.18 and a 52 week high of $288.16. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.12 and a current ratio of 3.28. The stock has a 50 day moving average price of $267.28 and a two-hundred day moving average price of $258.05. The firm has a market capitalization of $7.18 billion, a P/E ratio of 42.60, a P/E/G ratio of 4.86 and a beta of 1.45.

RBC Bearings (NYSE:RBC) last announced its quarterly earnings results on Thursday, February 8th. The industrial products company reported $1.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.83 by ($0.08). RBC Bearings had a return on equity of 9.64% and a net margin of 12.81%. The company had revenue of $373.91 million for the quarter, compared to the consensus estimate of $376.61 million. Equities analysts forecast that RBC Bearings Incorporated will post 8.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently commented on the company. Truist Financial raised their target price on RBC Bearings from $271.00 to $309.00 and gave the company a “buy” rating in a research note on Wednesday, January 10th. Citigroup raised their price objective on RBC Bearings from $250.00 to $285.00 and gave the company a “neutral” rating in a research note on Monday, February 12th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $275.86.

Insider Activity

In related news, COO Daniel A. Bergeron sold 15,000 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $267.22, for a total transaction of $4,008,300.00. Following the transaction, the chief operating officer now directly owns 121,935 shares in the company, valued at $32,583,470.70. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.90% of the stock is currently owned by corporate insiders.

About RBC Bearings

RBC Bearings Incorporated manufactures and markets engineered precision bearings and components 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.