UMB Bank n.a. Has $100,000 Stock Holdings in RBC Bearings Incorporated (NYSE:RBC)

UMB Bank n.a. boosted its position in shares of RBC Bearings Incorporated (NYSE:RBC) by 80.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 311 shares of the industrial products company’s stock after purchasing an additional 139 shares during the period. UMB Bank n.a.’s holdings in RBC Bearings were worth $100,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RBC. Torray Investment Partners LLC raised its stake in shares of RBC Bearings by 0.3% during the 4th quarter. Torray Investment Partners LLC now owns 8,468 shares of the industrial products company’s stock worth $2,533,000 after purchasing an additional 28 shares in the last quarter. Townsquare Capital LLC raised its position in RBC Bearings by 0.6% during the fourth quarter. Townsquare Capital LLC now owns 5,663 shares of the industrial products company’s stock valued at $1,694,000 after acquiring an additional 36 shares in the last quarter. Rafferty Asset Management LLC raised its position in RBC Bearings by 6.4% during the fourth quarter. Rafferty Asset Management LLC now owns 713 shares of the industrial products company’s stock valued at $213,000 after acquiring an additional 43 shares in the last quarter. Argonautica Private Wealth Management Inc. lifted its stake in RBC Bearings by 3.4% in the fourth quarter. Argonautica Private Wealth Management Inc. now owns 1,399 shares of the industrial products company’s stock valued at $418,000 after acquiring an additional 46 shares during the last quarter. Finally, CIBC Asset Management Inc grew its position in RBC Bearings by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 912 shares of the industrial products company’s stock worth $273,000 after acquiring an additional 47 shares in the last quarter.

Insider Transactions at RBC Bearings

In related news, CEO Michael J. Hartnett sold 5,000 shares of the firm’s stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total transaction of $1,875,000.00. Following the completion of the sale, the chief executive officer now directly owns 311,853 shares of the company’s stock, valued at $116,944,875. This trade represents a 1.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Steven H. Kaplan sold 400 shares of the firm’s stock in a transaction on Monday, June 9th. The shares were sold at an average price of $381.30, for a total value of $152,520.00. Following the completion of the sale, the director now owns 2,499 shares of the company’s stock, valued at approximately $952,868.70. This trade represents a 13.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 67,378 shares of company stock valued at $25,625,987. Company insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $415.00 price objective (up previously from $390.00) on shares of RBC Bearings in a research note on Tuesday, May 20th. Truist Financial raised their target price on RBC Bearings from $405.00 to $431.00 and gave the company a “buy” rating in a report on Thursday. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, RBC Bearings has an average rating of “Moderate Buy” and an average price target of $394.00.

RBC Bearings Price Performance

Shares of RBC Bearings stock opened at $371.48 on Friday. The company has a current ratio of 3.43, a quick ratio of 1.18 and a debt-to-equity ratio of 0.34. The firm has a fifty day simple moving average of $349.04 and a 200-day simple moving average of $337.58. The stock has a market capitalization of $11.67 billion, a price-to-earnings ratio of 51.03, a PEG ratio of 4.42 and a beta of 1.66. RBC Bearings Incorporated has a 1-year low of $260.53 and a 1-year high of $386.41.

RBC Bearings (NYSE:RBC) last posted its quarterly earnings results on Friday, May 16th. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.70 by $0.13. RBC Bearings had a net margin of 14.59% and a return on equity of 10.06%. The company had revenue of $437.70 million for the quarter, compared to analyst estimates of $440.26 million. During the same period last year, the business posted $2.47 EPS. The business’s quarterly revenue was up 5.8% on a year-over-year basis. On average, sell-side analysts expect that RBC Bearings Incorporated will post 9.16 earnings per share for the current year.

About RBC Bearings

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.