Edgestream Partners L.P. Takes Position in RBC Bearings Incorporated $RBC

Edgestream Partners L.P. purchased a new position in shares of RBC Bearings Incorporated (NYSE:RBC) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,854 shares of the industrial products company’s stock, valued at approximately $2,253,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in RBC Bearings by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 2,946,581 shares of the industrial products company’s stock valued at $1,133,844,000 after acquiring an additional 13,061 shares during the last quarter. Geneva Capital Management LLC raised its stake in shares of RBC Bearings by 7.4% in the 2nd quarter. Geneva Capital Management LLC now owns 633,230 shares of the industrial products company’s stock valued at $243,667,000 after purchasing an additional 43,812 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of RBC Bearings by 4.1% during the second quarter. Geode Capital Management LLC now owns 557,858 shares of the industrial products company’s stock worth $214,699,000 after purchasing an additional 21,972 shares during the last quarter. Ameriprise Financial Inc. grew its stake in RBC Bearings by 2.0% in the first quarter. Ameriprise Financial Inc. now owns 545,412 shares of the industrial products company’s stock worth $175,515,000 after purchasing an additional 10,531 shares in the last quarter. Finally, Maren Capital LLC grew its stake in RBC Bearings by 4.2% in the first quarter. Maren Capital LLC now owns 420,946 shares of the industrial products company’s stock worth $135,448,000 after purchasing an additional 17,143 shares in the last quarter.

Insider Activity at RBC Bearings

In other RBC Bearings news, Director Steven H. Kaplan sold 700 shares of RBC Bearings stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $443.00, for a total transaction of $310,100.00. Following the sale, the director owned 1,999 shares of the company’s stock, valued at $885,557. The trade was a 25.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP John J. Feeney sold 105 shares of the business’s stock in a transaction on Friday, September 26th. The stock was sold at an average price of $382.83, for a total value of $40,197.15. Following the transaction, the vice president owned 2,666 shares of the company’s stock, valued at $1,020,624.78. This trade represents a 3.79% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 1.90% of the company’s stock.

RBC Bearings Stock Performance

Shares of RBC opened at $442.97 on Friday. The firm has a fifty day moving average of $411.48 and a 200-day moving average of $393.62. The company has a market cap of $14.00 billion, a price-to-earnings ratio of 54.09, a price-to-earnings-growth ratio of 3.09 and a beta of 1.53. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.13 and a current ratio of 3.18. RBC Bearings Incorporated has a 1 year low of $290.56 and a 1 year high of $449.60.

RBC Bearings (NYSE:RBC) last issued its quarterly earnings data on Monday, August 15th. The industrial products company reported $1.22 earnings per share for the quarter. The firm had revenue of $156.21 million for the quarter. RBC Bearings had a net margin of 15.03% and a return on equity of 10.47%. As a group, equities analysts anticipate that RBC Bearings Incorporated will post 9.16 earnings per share for the current year.

Analyst Upgrades and Downgrades

RBC has been the topic of several research reports. Deutsche Bank Aktiengesellschaft set a $503.00 price objective on RBC Bearings and gave the company a “buy” rating in a research note on Wednesday, October 8th. Bank of America raised RBC Bearings from a “neutral” rating to a “buy” rating and upped their price target for the company from $390.00 to $500.00 in a research report on Thursday, November 6th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of RBC Bearings in a report on Monday. Zacks Research lowered shares of RBC Bearings from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Finally, Truist Financial reissued a “buy” rating and set a $471.00 target price (up from $455.00) on shares of RBC Bearings in a report on Monday, November 3rd. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $459.17.

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.