EULAV Asset Management Purchases 3,800 Shares of RBC Bearings Incorporated (NYSE:RBC)

EULAV Asset Management raised its stake in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 7.2% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 56,300 shares of the industrial products company's stock after purchasing an additional 3,800 shares during the period. EULAV Asset Management owned approximately 0.18% of RBC Bearings worth $18,116,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in RBC Bearings by 8.5% during the 4th quarter. Vanguard Group Inc. now owns 2,938,923 shares of the industrial products company's stock valued at $879,149,000 after purchasing an additional 229,466 shares during the last quarter. Durable Capital Partners LP boosted its stake in shares of 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 worth $787,141,000 after buying an additional 48,287 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in shares of RBC Bearings by 0.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,097,321 shares of the industrial products company's stock worth $328,253,000 after buying an additional 2,884 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of RBC Bearings by 32.6% in the 4th quarter. Ameriprise Financial Inc. now owns 534,881 shares of the industrial products company's stock worth $159,998,000 after buying an additional 131,614 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of RBC Bearings by 5.2% in the 4th quarter. Geode Capital Management LLC now owns 507,771 shares of the industrial products company's stock worth $151,944,000 after buying an additional 25,268 shares during the last quarter.

RBC Bearings Stock Performance

RBC Bearings stock traded down $1.85 during trading on Monday, hitting $386.74. The stock had a trading volume of 134,319 shares, compared to its average volume of 161,046. RBC Bearings Incorporated has a 1 year low of $260.53 and a 1 year high of $393.51. The company has a quick ratio of 1.18, a current ratio of 3.26 and a debt-to-equity ratio of 0.30. The stock's 50 day moving average is $366.82 and its two-hundred day moving average is $343.00. The stock has a market cap of $12.15 billion, a price-to-earnings ratio of 50.42, a price-to-earnings-growth ratio of 3.97 and a beta of 1.65.

RBC Bearings (NYSE:RBC - Get Free Report) last posted its quarterly earnings data on Friday, May 16th. The industrial products company reported $2.83 EPS for the quarter, beating the consensus estimate of $2.70 by $0.13. RBC Bearings had a return on equity of 10.08% and a net margin of 15.05%. The business had revenue of $437.70 million for the quarter, compared to the consensus estimate of $440.26 million. During the same quarter in the prior year, the business earned $2.47 earnings per share. RBC Bearings's revenue for the quarter was up 5.8% on a year-over-year basis. As a group, analysts predict that RBC Bearings Incorporated will post 9.16 EPS for the current year.

Insider Buying and Selling at RBC Bearings

In other RBC Bearings news, CEO Michael J. Hartnett sold 9,000 shares of the business's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $371.37, for a total transaction of $3,342,330.00. Following the sale, the chief executive officer owned 302,853 shares of the company's stock, valued at $112,470,518.61. The trade was a 2.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Daniel A. Bergeron sold 31,282 shares of the business's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $380.28, for a total transaction of $11,895,918.96. Following the sale, the chief operating officer directly owned 111,134 shares in the company, valued at $42,262,037.52. The trade was a 21.97% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 76,973 shares of company stock worth $29,186,872. 2.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Truist Financial boosted their target price on RBC Bearings from $405.00 to $431.00 and gave the stock a "buy" rating in a research note on Thursday, June 12th. Morgan Stanley restated an "overweight" rating and issued a $415.00 target price (up previously from $390.00) on shares of RBC Bearings in a research note on Tuesday, May 20th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $394.00.

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.