Aubrey Capital Management Ltd Makes New $2.39 Million Investment in RBC Bearings Incorporated $RBC

Aubrey Capital Management Ltd bought a new stake in RBC Bearings Incorporated (NYSE:RBC - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,400 shares of the industrial products company's stock, valued at approximately $2,391,000. RBC Bearings makes up 1.3% of Aubrey Capital Management Ltd's holdings, making the stock its 29th biggest position.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Comerica Bank increased its holdings in shares of RBC Bearings by 19.5% during the 4th quarter. Comerica Bank now owns 90,283 shares of the industrial products company's stock worth $40,486,000 after buying an additional 14,747 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in RBC Bearings by 263.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 3,737 shares of the industrial products company's stock valued at $1,788,000 after acquiring an additional 2,709 shares during the last quarter. Faithward Advisors LLC purchased a new position in RBC Bearings in the third quarter worth approximately $2,826,000. Lombard Odier Asset Management USA Corp grew its position in RBC Bearings by 20.8% in the third quarter. Lombard Odier Asset Management USA Corp now owns 12,037 shares of the industrial products company's stock worth $4,698,000 after acquiring an additional 2,074 shares during the period. Finally, M&T Bank Corp increased its stake in RBC Bearings by 372.6% during the fourth quarter. M&T Bank Corp now owns 23,640 shares of the industrial products company's stock worth $10,601,000 after acquiring an additional 18,638 shares during the last quarter.

Insider Buying and Selling at RBC Bearings

In related news, Director Edward Stewart sold 600 shares of the firm's stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $592.83, for a total value of $355,698.00. Following the sale, the director owned 21,337 shares of the company's stock, valued at $12,649,213.71. This trade represents a 2.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dolores J. Ennico sold 600 shares of the firm's stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $636.11, for a total transaction of $381,666.00. Following the completion of the sale, the director directly owned 7,254 shares in the company, 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. Insiders have sold 1,425 shares of company stock valued at $885,400 in the last quarter. Corporate insiders own 1.90% of the company's stock.

RBC Bearings Stock Performance

NYSE:RBC opened at $587.74 on Wednesday. RBC Bearings Incorporated has a 52 week low of $364.50 and a 52 week high of $667.69. The company has a fifty day simple moving average of $601.05 and a two-hundred day simple moving average of $560.72. The company has a quick ratio of 0.78, a current ratio of 2.18 and a debt-to-equity ratio of 0.21. The company has a market cap of $18.60 billion, a price-to-earnings ratio of 64.66, a price-to-earnings-growth ratio of 3.35 and a beta of 1.40.

RBC Bearings (NYSE:RBC - Get Free Report) last announced its quarterly earnings data on Friday, May 15th. The industrial products company reported $3.62 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts' expectations of $505.90 million. During the same period last year, the firm earned $2.83 earnings per share. The company's revenue for the quarter was up 18.3% compared to the same quarter last year. As a group, equities analysts anticipate that RBC Bearings Incorporated will post 13.59 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on RBC. Zacks Research cut RBC Bearings from a "strong-buy" rating to a "hold" rating in a report on Wednesday, June 3rd. Wall Street Zen lowered shares of RBC Bearings from a "buy" rating to a "hold" rating in a report on Saturday, June 27th. Truist Financial reaffirmed a "buy" rating and issued a $615.00 target price (up from $599.00) on shares of RBC Bearings in a research report on Tuesday, May 19th. Morgan Stanley increased their target price on shares of RBC Bearings from $600.00 to $640.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 19th. Finally, Weiss Ratings cut shares of RBC Bearings from a "buy (b)" rating to a "buy (b-)" rating in a research report on Wednesday, June 17th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $584.00.

About RBC Bearings

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.

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