Nuveen LLC Purchases Shares of 64,789 RBC Bearings Incorporated $RBC

Key Points

• Nuveen LLC acquired 64,789 shares of RBC Bearings Incorporated, valued at approximately $20.8 million, making up 0.21% of the company's total stock as of its latest SEC filing.
• RBC Bearings reported $2.84 earnings per share for the last quarter, exceeding analysts' estimates of $2.74 and achieving a revenue of $436 million, up 7.3% year-over-year.
• Insider transactions included COO Daniel A. Bergeron's sale of 48,743 shares at $402.75 each, resulting in a significant decrease in his ownership stake.

Nuveen LLC bought a new position in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 64,789 shares of the industrial products company's stock, valued at approximately $20,847,000. Nuveen LLC owned 0.21% of RBC Bearings at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in RBC. GAMMA Investing LLC boosted its stake in shares of RBC Bearings by 38,860.9% during the 1st quarter. GAMMA Investing LLC now owns 201,428 shares of the industrial products company's stock worth $64,813,000 after acquiring an additional 200,911 shares during the period. Ameriprise Financial Inc. boosted its stake in RBC Bearings by 32.6% in the 4th quarter. Ameriprise Financial Inc. now owns 534,881 shares of the industrial products company's stock valued at $159,998,000 after purchasing an additional 131,614 shares during the period. Durable Capital Partners LP boosted its stake in RBC Bearings by 1.9% in the 4th quarter. Durable Capital Partners LP now owns 2,631,346 shares of the industrial products company's stock valued at $787,141,000 after purchasing an additional 48,287 shares during the period. Northern Trust Corp boosted its stake in RBC Bearings by 18.2% in the 4th quarter. Northern Trust Corp now owns 276,340 shares of the industrial products company's stock valued at $82,664,000 after purchasing an additional 42,459 shares during the period. Finally, Invesco Ltd. boosted its stake in RBC Bearings by 11.2% in the 1st quarter. Invesco Ltd. now owns 260,924 shares of the industrial products company's stock valued at $83,958,000 after purchasing an additional 26,338 shares during the period.

Insiders Place Their Bets

In other news, COO Daniel A. Bergeron sold 48,743 shares of the business's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $402.75, for a total transaction of $19,631,243.25. Following the completion of the transaction, the chief operating officer owned 111,134 shares of the company's stock, valued at approximately $44,759,218.50. The trade was a 30.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael J. Hartnett sold 26,725 shares of the business's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $381.09, for a total value of $10,184,630.25. Following the transaction, the chief executive officer directly owned 316,853 shares of the company's stock, valued at $120,749,509.77. This trade represents a 7.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 125,716 shares of company stock worth $48,818,116 over the last 90 days. Corporate insiders own 1.90% of the company's stock.

RBC Bearings Price Performance

Shares of RBC Bearings stock traded down $2.0590 during trading on Monday, reaching $399.5010. 156,497 shares of the company's stock were exchanged, compared to its average volume of 177,882. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.33 and a current ratio of 3.33. RBC Bearings Incorporated has a 1-year low of $272.50 and a 1-year high of $416.33. The company has a market cap of $12.61 billion, a P/E ratio of 50.31, a PEG ratio of 3.11 and a beta of 1.71. The firm's 50-day moving average price is $389.40 and its 200 day moving average price is $362.37.

RBC Bearings (NYSE:RBC - Get Free Report) last posted its quarterly earnings results on Friday, August 1st. The industrial products company reported $2.84 EPS for the quarter, topping analysts' consensus estimates of $2.74 by $0.10. RBC Bearings had a return on equity of 10.14% and a net margin of 15.20%.The company had revenue of $436.00 million during the quarter, compared to analysts' expectations of $432.63 million. During the same quarter in the previous year, the firm earned $2.54 EPS. RBC Bearings's revenue was up 7.3% on a year-over-year basis. RBC Bearings has set its Q2 2026 guidance at EPS. As a group, research analysts anticipate that RBC Bearings Incorporated will post 9.16 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft assumed coverage on RBC Bearings in a research note on Wednesday, July 16th. They issued a "buy" rating and a $480.00 price target for the company. KeyCorp boosted their price target on RBC Bearings from $405.00 to $450.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Zacks Research upgraded RBC Bearings from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 13th. Morgan Stanley restated an "overweight" rating and issued a $415.00 price target (up from $390.00) on shares of RBC Bearings in a research note on Tuesday, May 20th. Finally, Truist Financial boosted their price target on RBC Bearings from $431.00 to $455.00 and gave the company a "buy" rating in a research note on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $425.17.

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.