RBC Bearings Incorporated $RBC Shares Bought by Bamco Inc. NY

Bamco Inc. NY lifted its stake in shares of RBC Bearings Incorporated (NYSE:RBC) by 1.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 327,035 shares of the industrial products company’s stock after purchasing an additional 5,128 shares during the period. Bamco Inc. NY owned approximately 1.04% of RBC Bearings worth $125,843,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Artisan Partners Limited Partnership purchased a new stake in RBC Bearings in the 2nd quarter worth about $157,190,000. Norges Bank acquired a new stake in RBC Bearings in the 2nd quarter worth approximately $137,078,000. Frontier Capital Management Co. LLC bought a new stake in shares of RBC Bearings during the 2nd quarter worth $39,818,000. Nuveen LLC bought a new stake in RBC Bearings during the first quarter valued at about $20,847,000. Finally, Greenhouse Funds LLLP boosted its stake in RBC Bearings by 28.0% during the 2nd quarter. Greenhouse Funds LLLP now owns 227,434 shares of the industrial products company’s stock valued at $87,517,000 after purchasing an additional 49,773 shares during the period.

RBC Bearings Trading Up 0.5%

NYSE:RBC opened at $460.23 on Friday. The stock has a market capitalization of $14.55 billion, a PE ratio of 56.19, a price-to-earnings-growth ratio of 3.23 and a beta of 1.53. RBC Bearings Incorporated has a fifty-two week low of $290.56 and a fifty-two week high of $461.85. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.18 and a quick ratio of 1.13. The business’s 50-day simple moving average is $419.43 and its 200-day simple moving average is $397.04.

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

Insider Buying and Selling

In other news, Director Steven H. Kaplan sold 700 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $443.00, for a total transaction of $310,100.00. Following the completion of the transaction, the director directly owned 1,999 shares of the company’s stock, valued at $885,557. This trade represents a 25.94% 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, VP John J. Feeney sold 105 shares of the firm’s stock in a transaction on Friday, September 26th. The shares were sold at an average price of $382.83, for a total transaction of $40,197.15. Following the completion of the transaction, the vice president directly owned 2,666 shares of the company’s stock, valued at approximately $1,020,624.78. This trade represents a 3.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

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

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.