RBC Bearings Incorporated $RBC is American Capital Management Inc.’s 3rd Largest Position

American Capital Management Inc. trimmed its stake in RBC Bearings Incorporated (NYSE:RBC) by 18.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 175,443 shares of the industrial products company’s stock after selling 38,674 shares during the quarter. RBC Bearings comprises 5.1% of American Capital Management Inc.’s portfolio, making the stock its 3rd largest position. American Capital Management Inc. owned about 0.55% of RBC Bearings worth $95,287,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. State Street Corp increased its position in RBC Bearings by 0.5% during 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 lifted its position in RBC Bearings by 8.5% during the fourth quarter. Geode Capital Management LLC now owns 619,314 shares of the industrial products company’s stock valued at $277,776,000 after buying an additional 48,419 shares in the last quarter. Maren Capital LLC grew its stake in RBC Bearings by 1.4% during the fourth quarter. Maren Capital LLC now owns 450,314 shares of the industrial products company’s stock worth $201,934,000 after buying an additional 6,373 shares during the period. First Trust Advisors LP grew its stake in RBC Bearings by 27.5% during the first quarter. First Trust Advisors LP now owns 409,700 shares of the industrial products company’s stock worth $222,516,000 after buying an additional 88,468 shares during the period. Finally, Invesco Ltd. increased its position in shares of 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 acquiring an additional 23,616 shares in the last quarter.

Wall Street Analyst Weigh In

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

RBC Bearings Price Performance

RBC opened at $585.62 on Tuesday. The company has a market capitalization of $18.53 billion, a P/E ratio of 64.42, a PEG ratio of 3.39 and a beta of 1.40. The company has a 50-day moving average of $598.02 and a 200-day moving average of $568.81. 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 1-year low of $364.50 and a 1-year high of $667.69.

RBC Bearings (NYSE:RBC) last issued its quarterly earnings results on Friday, May 15th. The industrial products company reported $3.62 earnings per share for the quarter, beating 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 business had revenue of $518.00 million during the quarter, compared to the consensus estimate of $505.90 million. During the same period in the previous year, the business earned $2.83 EPS. The business’s quarterly revenue was up 18.3% on a year-over-year basis. Equities analysts expect that RBC Bearings Incorporated will post 13.66 EPS for the current fiscal year.

Insiders Place Their Bets

In other RBC Bearings news, Director Edward Stewart sold 600 shares of RBC Bearings stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $592.83, for a total value of $355,698.00. Following the completion of the transaction, the director directly owned 21,337 shares in the company, valued at $12,649,213.71. The trade was a 2.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP John J. Feeney sold 225 shares of RBC Bearings stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $657.94, for a total value of $148,036.50. Following the completion of the transaction, the vice president owned 2,378 shares of the company’s stock, valued at approximately $1,564,581.32. The trade was a 8.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,425 shares of company stock valued at $885,400 over the last quarter. Insiders own 1.90% of the company’s stock.

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.