Bamco Inc. NY Has $135.92 Million Position in RBC Bearings Incorporated $RBC

Key Points

• Bamco Inc. NY reduced its RBC Bearings stake by 7.5% in the fourth quarter, but still held 303,110 shares valued at about $135.9 million as of the latest filing.
• Recent analyst sentiment remains mostly positive: RBC Bearings has six Buy ratings and two Hold ratings, with a consensus Moderate Buy and an average price target of $584.
• The company posted solid quarterly results, reporting EPS of $3.62 versus estimates of $3.31 and revenue of $518 million, while shares recently traded near a 52-week high of $632.

Bamco Inc. NY cut its stake in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 7.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 303,110 shares of the industrial products company's stock after selling 24,539 shares during the quarter. Bamco Inc. NY owned approximately 0.96% of RBC Bearings worth $135,924,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. SBI Securities Co. Ltd. lifted its position in RBC Bearings by 106.5% during the fourth quarter. SBI Securities Co. Ltd. now owns 64 shares of the industrial products company's stock worth $29,000 after acquiring an additional 33 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of RBC Bearings during the fourth quarter worth approximately $35,000. Advisors Asset Management Inc. bought a new stake in shares of RBC Bearings during the first quarter worth approximately $26,000. Larson Financial Group LLC boosted its holdings in shares of RBC Bearings by 148.5% during the third quarter. Larson Financial Group LLC now owns 82 shares of the industrial products company's stock worth $32,000 after acquiring an additional 49 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of RBC Bearings by 123.3% during the second quarter. EverSource Wealth Advisors LLC now owns 96 shares of the industrial products company's stock worth $37,000 after acquiring an additional 53 shares during the period.

Analyst Upgrades and Downgrades

RBC has been the subject of a number of research analyst reports. KeyCorp boosted their price objective on RBC Bearings from $595.00 to $680.00 and gave the stock an "overweight" rating in a report on Monday, March 2nd. Zacks Research cut shares of RBC Bearings from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, June 3rd. Wall Street Zen upgraded shares of RBC Bearings from a "hold" rating to a "buy" rating in a research note on Saturday, June 6th. Truist Financial reiterated a "buy" rating and issued a $615.00 price objective (up from $599.00) on shares of RBC Bearings in a research note on Tuesday, May 19th. Finally, Weiss Ratings upgraded shares of RBC Bearings from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, May 19th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $584.00.

RBC Bearings Price Performance

RBC stock opened at $625.05 on Thursday. The company has a quick ratio of 0.78, a current ratio of 2.18 and a debt-to-equity ratio of 0.21. RBC Bearings Incorporated has a 12 month low of $363.05 and a 12 month high of $632.00. The firm has a market cap of $19.78 billion, a P/E ratio of 68.76, a P/E/G ratio of 3.59 and a beta of 1.42. The company's 50-day moving average price is $590.40 and its two-hundred day moving average price is $538.07.

RBC Bearings (NYSE:RBC - Get Free Report) last released its earnings results on Friday, May 15th. The industrial products company reported $3.62 EPS for the quarter, beating the consensus estimate of $3.31 by $0.31. RBC Bearings had a net margin of 15.37% and a return on equity of 11.35%. The firm had revenue of $518.00 million for the quarter, compared to analyst estimates of $505.90 million. During the same period last year, the firm earned $2.83 EPS. The business's quarterly revenue was up 18.3% compared to the same quarter last year. On average, analysts anticipate that RBC Bearings Incorporated will post 13.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In other RBC Bearings news, Director Edward Stewart sold 600 shares of the firm's stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $592.83, for a total value of $355,698.00. Following the transaction, the director directly owned 21,337 shares of the company's stock, valued at $12,649,213.71. This trade represents a 2.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.90% of the stock is currently owned by corporate insiders.

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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