Dimensional Fund Advisors LP Sells 49,181 Shares of RBC Bearings Incorporated $RBC

Dimensional Fund Advisors LP decreased its holdings in RBC Bearings Incorporated (NYSE:RBC) by 14.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 280,642 shares of the industrial products company’s stock after selling 49,181 shares during the quarter. Dimensional Fund Advisors LP owned about 0.89% of RBC Bearings worth $152,386,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. State Street Corp raised its holdings in RBC Bearings by 0.5% in the 3rd quarter. State Street Corp now owns 919,259 shares of the industrial products company’s stock worth $358,778,000 after purchasing an additional 4,568 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of RBC Bearings by 8.5% during the 4th quarter. Geode Capital Management LLC now owns 619,314 shares of the industrial products company’s stock valued at $277,776,000 after purchasing an additional 48,419 shares in the last quarter. Maren Capital LLC increased its position in shares of RBC Bearings by 1.4% during the fourth quarter. Maren Capital LLC now owns 450,314 shares of the industrial products company’s stock valued at $201,934,000 after buying an additional 6,373 shares during the period. Invesco Ltd. raised its stake in RBC Bearings by 6.2% in the fourth quarter. Invesco Ltd. now owns 404,777 shares of the industrial products company’s stock worth $181,514,000 after buying an additional 23,616 shares in the last quarter. Finally, Norges Bank bought a new position in RBC Bearings in the fourth quarter worth about $175,909,000.

RBC Bearings Stock Performance

RBC opened at $594.57 on Monday. The stock has a market capitalization of $18.81 billion, a price-to-earnings ratio of 65.41, a PEG ratio of 3.39 and a beta of 1.40. The company has a fifty day moving average of $597.34 and a 200 day moving average of $568.03. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.78 and a current ratio of 2.18. RBC Bearings Incorporated has a fifty-two week low of $364.50 and a fifty-two week high of $667.69.

RBC Bearings (NYSE:RBC) last posted its earnings results on Friday, May 15th. The industrial products company reported $3.62 EPS for the quarter, topping analysts’ consensus estimates of $3.31 by $0.31. RBC Bearings had a return on equity of 11.35% and a net margin of 15.37%.The company had revenue of $518.00 million for the quarter, compared to the consensus estimate of $505.90 million. During the same period in the previous year, the business earned $2.83 earnings per share. The firm’s revenue for the quarter was up 18.3% on a year-over-year basis. As a group, sell-side analysts forecast that RBC Bearings Incorporated will post 13.66 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Edward Stewart sold 600 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $592.83, for a total transaction of $355,698.00. Following the sale, the director directly owned 21,337 shares in the company, valued at approximately $12,649,213.71. This represents a 2.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dolores J. Ennico sold 600 shares of RBC Bearings stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $636.11, for a total value of $381,666.00. Following the completion of the transaction, the director owned 7,254 shares of the company’s stock, valued at approximately $4,614,341.94. This trade represents a 7.64% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 1,425 shares of company stock worth $885,400. 1.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

RBC has been the subject of several research analyst reports. Zacks Research lowered shares of RBC Bearings from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 3rd. Weiss Ratings raised RBC Bearings from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, July 15th. Truist Financial reiterated a “buy” rating and set a $615.00 target price (up from $599.00) on shares of RBC Bearings in a research note on Tuesday, May 19th. Wall Street Zen cut shares of RBC Bearings from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. Finally, Morgan Stanley boosted their price target on RBC Bearings from $600.00 to $640.00 and gave the company an “overweight” rating in a report on Tuesday, May 19th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $584.00.

RBC Bearings Profile

RBC Bearings Incorporated is a global designer, manufacturer and marketer of highly engineered precision bearings and components for extreme applications. The company’s product portfolio includes cylindrical roller bearings, spherical plain bearings, ball bearings, track rollers, and engineered components such as metal-to-metal and polymer bearings. These products are tailored to meet the demanding requirements of aerospace, defense and industrial customers where reliability under severe conditions is critical.

The company’s bearings and components find application in aircraft engines, auxiliary power units, landing gear systems, space and missile programs, industrial gas turbines, oil and gas drilling equipment, and heavy machinery.