Driehaus Capital Management LLC Makes New Investment in RBC Bearings Incorporated $RBC

Key Points

• Driehaus Capital Management LLC has acquired a new stake in RBC Bearings Incorporated worth approximately $11.41 million, owning about 0.11% of the company.
• RBC Bearings reported $2.84 earnings per share for the recent quarter, surpassing analyst expectations, with revenue growing by 7.3% year-over-year.
• Several analysts have increased their price targets for RBC Bearings, with the consensus now around $425.17, reflecting a generally positive outlook for the stock.

Driehaus Capital Management LLC bought a new position in RBC Bearings Incorporated (NYSE:RBC - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 35,473 shares of the industrial products company's stock, valued at approximately $11,414,000. Driehaus Capital Management LLC owned 0.11% of RBC Bearings as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. GAMMA Investing LLC raised its holdings in RBC Bearings by 38,860.9% during the first quarter. GAMMA Investing LLC now owns 201,428 shares of the industrial products company's stock valued at $64,813,000 after acquiring an additional 200,911 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of RBC Bearings by 32.6% in the fourth quarter. Ameriprise Financial Inc. now owns 534,881 shares of the industrial products company's stock worth $159,998,000 after acquiring an additional 131,614 shares during the period. Nuveen LLC purchased a new stake in shares of RBC Bearings during the first quarter worth about $20,847,000. Durable Capital Partners LP raised its stake in RBC Bearings by 1.9% during 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. Finally, Northern Trust Corp lifted its holdings 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 worth $82,664,000 after purchasing an additional 42,459 shares in the last quarter.

RBC Bearings Price Performance

Shares of RBC Bearings stock traded up $6.80 on Thursday, reaching $390.40. The company's stock had a trading volume of 98,234 shares, compared to its average volume of 166,146. The stock has a 50-day moving average price of $391.65 and a 200-day moving average price of $363.79. RBC Bearings Incorporated has a 52-week low of $272.50 and a 52-week high of $416.33. The company has a market capitalization of $12.32 billion, a P/E ratio of 49.17, a PEG ratio of 3.02 and a beta of 1.73. The company has a quick ratio of 1.33, a current ratio of 3.33 and a debt-to-equity ratio of 0.29.

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

Analyst Ratings Changes

Several research firms have commented on RBC. Deutsche Bank Aktiengesellschaft started coverage on shares of RBC Bearings in a research report on Wednesday, July 16th. They set a "buy" rating and a $480.00 price objective for the company. Zacks Research raised shares of RBC Bearings from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 13th. KeyCorp lifted their price objective on RBC Bearings from $405.00 to $450.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Truist Financial lifted their price target on RBC Bearings from $431.00 to $455.00 and gave the company a "buy" rating in a report on Monday, August 4th. Finally, The Goldman Sachs Group upped their price target on RBC Bearings from $375.00 to $416.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $425.17.

Insider Buying and Selling at RBC Bearings

In related news, Director Michael H. Ambrose sold 595 shares of the company's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $367.32, for a total transaction of $218,555.40. Following the completion of the sale, the director owned 6,985 shares of the company's stock, valued at approximately $2,565,730.20. This represents a 7.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael J. Hartnett sold 26,725 shares of the stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $381.09, for a total transaction of $10,184,630.25. Following the completion of the sale, the chief executive officer owned 316,853 shares of the company's stock, valued at approximately $120,749,509.77. The trade was a 7.78% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 125,716 shares of company stock valued at $48,818,116. Corporate insiders own 1.90% of the company's stock.

About RBC Bearings

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.