RBC Bearings Incorporated (NYSE:RBC) Shares Purchased by Mountain Pacific Investment Advisers Inc. ID

Mountain Pacific Investment Advisers Inc. ID raised its stake in shares of RBC Bearings Incorporated (NYSE:RBC) by 0.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 114,188 shares of the industrial products company’s stock after buying an additional 229 shares during the period. RBC Bearings accounts for about 2.0% of Mountain Pacific Investment Advisers Inc. ID’s portfolio, making the stock its 20th largest position. Mountain Pacific Investment Advisers Inc. ID’s holdings in RBC Bearings were worth $32,531,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of RBC. LWM Advisory Services LLC acquired a new stake in shares of RBC Bearings during the third quarter valued at $31,000. Operose Advisors LLC acquired a new stake in RBC Bearings during the third quarter worth approximately $45,000. GAMMA Investing LLC purchased a new stake in RBC Bearings in the 4th quarter worth approximately $66,000. RiverPark Advisors LLC acquired a new position in RBC Bearings in the 3rd quarter valued at $69,000. Finally, Global Retirement Partners LLC lifted its stake in shares of RBC Bearings by 16.1% during the 3rd quarter. Global Retirement Partners LLC now owns 383 shares of the industrial products company’s stock worth $90,000 after purchasing an additional 53 shares during the period.

Insider Activity

In related news, COO Daniel A. Bergeron sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was 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 of the company’s stock, valued at approximately $32,583,470.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.90% of the company’s stock.

RBC Bearings Stock Performance

NYSE RBC opened at $245.03 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.28 and a quick ratio of 1.12. RBC Bearings Incorporated has a 1-year low of $195.18 and a 1-year high of $288.16. The business’s 50-day simple moving average is $262.59 and its 200-day simple moving average is $258.53. The firm has a market capitalization of $6.91 billion, a P/E ratio of 40.97, a P/E/G ratio of 4.66 and a beta of 1.45.

RBC Bearings (NYSE:RBC) last posted its earnings results on Thursday, February 8th. The industrial products company reported $1.75 earnings per share for the quarter, missing the consensus estimate of $1.83 by ($0.08). RBC Bearings had a net margin of 12.81% and a return on equity of 9.64%. The business had revenue of $373.91 million for the quarter, compared to analyst estimates of $376.61 million. Equities analysts predict that RBC Bearings Incorporated will post 8.02 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently commented on RBC. Citigroup upped their target price on RBC Bearings from $250.00 to $285.00 and gave the company a “neutral” rating in a research note on Monday, February 12th. Truist Financial increased their price objective on shares of RBC Bearings from $271.00 to $309.00 and gave the stock a “buy” rating in a report on Wednesday, January 10th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $275.86.

RBC Bearings Company Profile

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.