AlphaQuest LLC Makes New $83,000 Investment in RBC Bearings Incorporated $RBC

AlphaQuest LLC bought a new stake in shares of RBC Bearings Incorporated (NYSE:RBC) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 215 shares of the industrial products company’s stock, valued at approximately $83,000.

Several other institutional investors and hedge funds have also modified their holdings of RBC. Advisors Asset Management Inc. purchased a new stake in shares of RBC Bearings in the first quarter worth about $26,000. SVB Wealth LLC acquired a new position in RBC Bearings in the first quarter valued at approximately $111,000. IFP Advisors Inc boosted its position in RBC Bearings by 51.6% in the 2nd quarter. IFP Advisors Inc now owns 291 shares of the industrial products company’s stock worth $112,000 after purchasing an additional 99 shares in the last quarter. Harbor Investment Advisory LLC boosted its position in RBC Bearings by 19.8% in the 2nd quarter. Harbor Investment Advisory LLC now owns 327 shares of the industrial products company’s stock worth $126,000 after purchasing an additional 54 shares in the last quarter. Finally, Quarry LP boosted its position in RBC Bearings by 55.1% in the 1st quarter. Quarry LP now owns 605 shares of the industrial products company’s stock worth $195,000 after purchasing an additional 215 shares in the last quarter.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. KeyCorp raised their price target on shares of RBC Bearings from $405.00 to $450.00 and gave the company an “overweight” rating in a research report on Tuesday, July 15th. Truist Financial reissued a “buy” rating and set a $471.00 target price (up from $455.00) on shares of RBC Bearings in a research note on Monday. Deutsche Bank Aktiengesellschaft set a $503.00 target price on RBC Bearings and gave the company a “buy” rating in a research report on Wednesday, October 8th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of RBC Bearings in a report on Wednesday, October 8th. Finally, Zacks Research lowered RBC Bearings from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Six analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, RBC Bearings presently has a consensus rating of “Moderate Buy” and an average price target of $431.67.

RBC Bearings Stock Up 1.0%

Shares of NYSE:RBC opened at $431.67 on Thursday. RBC Bearings Incorporated has a 52-week low of $290.56 and a 52-week high of $437.25. The stock has a market cap of $13.62 billion, a P/E ratio of 54.37, a PEG ratio of 3.16 and a beta of 1.71. The business has a fifty day moving average of $389.10 and a two-hundred day moving average of $380.09. The company has a quick ratio of 1.33, a current ratio of 3.33 and a debt-to-equity ratio of 0.29.

RBC Bearings (NYSE:RBC) last posted its quarterly earnings results on Monday, August 15th. The industrial products company reported $1.22 earnings per share for the quarter. The business had revenue of $156.21 million during the quarter. RBC Bearings had a net margin of 15.20% and a return on equity of 10.14%. On average, research analysts expect that RBC Bearings Incorporated will post 9.16 earnings per share for the current year.

Insider Buying and Selling at RBC Bearings

In other news, VP John J. Feeney sold 105 shares of the business’s stock in a transaction that occurred on Friday, September 26th. The shares were sold at an average price of $382.83, for a total value of $40,197.15. Following the sale, the vice president directly owned 2,666 shares of the company’s stock, valued at approximately $1,020,624.78. The trade was a 3.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.90% of the stock is currently owned by corporate insiders.

RBC Bearings Company 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.