Natixis Advisors LLC Has $29.50 Million Stock Position in RBC Bearings Incorporated (NYSE:RBC)

Natixis Advisors LLC cut its holdings in shares of RBC Bearings Incorporated (NYSE:RBC) by 12.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 91,681 shares of the industrial products company’s stock after selling 12,866 shares during the period. Natixis Advisors LLC owned 0.29% of RBC Bearings worth $29,500,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its stake in shares of RBC Bearings by 38,860.9% during the first quarter. GAMMA Investing LLC now owns 201,428 shares of the industrial products company’s stock worth $64,813,000 after purchasing an additional 200,911 shares during the period. Ameriprise Financial Inc. grew its position in shares of RBC Bearings by 32.6% during the 4th quarter. Ameriprise Financial Inc. now owns 534,881 shares of the industrial products company’s stock worth $159,998,000 after buying an additional 131,614 shares during the period. First Trust Advisors LP grew its position in shares of RBC Bearings by 63.5% during the 4th quarter. First Trust Advisors LP now owns 315,661 shares of the industrial products company’s stock worth $94,427,000 after buying an additional 122,552 shares during the period. Durable Capital Partners LP increased its stake in shares of RBC Bearings by 1.9% in the 4th quarter. Durable Capital Partners LP now owns 2,631,346 shares of the industrial products company’s stock valued at $787,141,000 after acquiring an additional 48,287 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in shares of RBC Bearings by 26.7% in the 4th quarter. Franklin Resources Inc. now owns 211,908 shares of the industrial products company’s stock valued at $63,390,000 after acquiring an additional 44,679 shares during the period.

Insider Transactions at RBC Bearings

In other news, Director Steven H. Kaplan sold 400 shares of the firm’s stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $381.30, for a total transaction of $152,520.00. Following the completion of the transaction, the director directly owned 2,499 shares of the company’s stock, valued at $952,868.70. This trade represents a 13.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Daniel A. Bergeron sold 31,282 shares of the business’s stock in a transaction on Monday, June 9th. The stock was sold at an average price of $380.28, for a total transaction of $11,895,918.96. Following the completion of the sale, the chief operating officer directly owned 111,134 shares in the company, valued at approximately $42,262,037.52. This represents a 21.97% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 76,973 shares of company stock worth $29,186,872. 1.90% of the stock is currently owned by insiders.

RBC Bearings Price Performance

Shares of NYSE RBC opened at $398.71 on Friday. The company has a fifty day moving average price of $380.32 and a 200 day moving average price of $354.30. The firm has a market cap of $12.58 billion, a PE ratio of 51.98, a PEG ratio of 3.18 and a beta of 1.71. The company has a current ratio of 3.26, a quick ratio of 1.18 and a debt-to-equity ratio of 0.30. RBC Bearings Incorporated has a 1-year low of $260.53 and a 1-year high of $405.18.

RBC Bearings (NYSE:RBC) last issued its quarterly earnings results on Friday, May 16th. The industrial products company reported $2.83 EPS for the quarter, beating analysts’ consensus estimates of $2.70 by $0.13. The company had revenue of $437.70 million for the quarter, compared to analyst estimates of $440.26 million. RBC Bearings had a return on equity of 10.08% and a net margin of 15.05%. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.47 earnings per share. Research analysts predict that RBC Bearings Incorporated will post 9.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

RBC has been the subject of a number of analyst reports. KeyCorp boosted their price objective on shares of RBC Bearings from $405.00 to $450.00 and gave the company an “overweight” rating in a report on Tuesday, July 15th. Morgan Stanley restated an “overweight” rating and issued a $415.00 price objective (up previously from $390.00) on shares of RBC Bearings in a research report on Tuesday, May 20th. Deutsche Bank Aktiengesellschaft initiated coverage on RBC Bearings in a research note on Wednesday, July 16th. They set a “buy” rating and a $480.00 price objective on the stock. The Goldman Sachs Group boosted their target price on RBC Bearings from $375.00 to $416.00 and gave the company a “neutral” rating in a research note on Tuesday, July 8th. Finally, Truist Financial lifted their price objective on RBC Bearings from $405.00 to $431.00 and gave the company a “buy” rating in a report on Thursday, June 12th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $421.17.

RBC Bearings 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.