Fred Alger Management LLC Has $66.39 Million Stake in RBC Bearings Incorporated $RBC

Key Points

• Fred Alger Management LLC reduced its stake in RBC Bearings by 5.8%, selling 12,596 shares and owning approximately 0.66% of the company valued at $66.4 million as of the end of the most recent quarter.
• Wall Street analysts are bullish on RBC Bearings, with Zacks raising its rating to "strong-buy" and several firms increasing their price targets, with the average currently at $425.17.
• The company's recent quarterly earnings report showed an EPS of $2.84, surpassing estimates, with revenue rising by 7.3% year-over-year to $436 million.

Fred Alger Management LLC cut its stake in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 5.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 206,341 shares of the industrial products company's stock after selling 12,596 shares during the period. Fred Alger Management LLC owned about 0.66% of RBC Bearings worth $66,394,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of RBC. GAMMA Investing LLC raised its holdings in shares of RBC Bearings by 38,860.9% in the 1st quarter. GAMMA Investing LLC now owns 201,428 shares of the industrial products company's stock worth $64,813,000 after buying an additional 200,911 shares in the last quarter. Nuveen LLC acquired a new position in shares of RBC Bearings in the 1st quarter worth approximately $20,847,000. Driehaus Capital Management LLC acquired a new position in shares of RBC Bearings in the 1st quarter worth approximately $11,414,000. Invesco Ltd. raised its holdings in shares of RBC Bearings by 11.2% in the 1st quarter. Invesco Ltd. now owns 260,924 shares of the industrial products company's stock worth $83,958,000 after buying an additional 26,338 shares in the last quarter. Finally, Blair William & Co. IL increased its holdings in RBC Bearings by 13.4% during the 1st quarter. Blair William & Co. IL now owns 210,485 shares of the industrial products company's stock valued at $67,728,000 after purchasing an additional 24,885 shares in the last quarter.

Insiders Place Their Bets

In other RBC Bearings news, Director Michael H. Ambrose sold 595 shares of the stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $367.32, for a total value of $218,555.40. Following the transaction, the director directly owned 6,985 shares in the company, valued at approximately $2,565,730.20. This trade represents a 7.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Daniel A. Bergeron sold 48,743 shares of the firm's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $402.75, for a total value of $19,631,243.25. Following the completion of the transaction, the chief operating officer owned 111,134 shares in the company, valued at $44,759,218.50. This represents a 30.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by company insiders.

RBC Bearings Trading Down 2.5%

RBC traded down $9.74 during mid-day trading on Friday, reaching $375.35. The stock had a trading volume of 133,571 shares, compared to its average volume of 164,881. The stock has a market capitalization of $11.85 billion, a P/E ratio of 47.27, a P/E/G ratio of 2.98 and a beta of 1.73. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.33 and a current ratio of 3.33. The firm's fifty day simple moving average is $391.19 and its two-hundred day simple moving average is $364.71. RBC Bearings Incorporated has a 52 week low of $272.50 and a 52 week high of $416.33.

RBC Bearings (NYSE:RBC - Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The industrial products company reported $2.84 EPS for the quarter, beating analysts' consensus estimates of $2.74 by $0.10. The firm had revenue of $436.00 million for the quarter, compared to analyst estimates of $432.63 million. RBC Bearings had a return on equity of 10.14% and a net margin of 15.20%.The business's quarterly revenue was up 7.3% compared to the same quarter last year. During the same period last year, the company earned $2.54 EPS. RBC Bearings has set its Q2 2026 guidance at EPS. On average, equities analysts predict that RBC Bearings Incorporated will post 9.16 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on RBC shares. KeyCorp raised their price target on RBC Bearings from $405.00 to $450.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. The Goldman Sachs Group raised their price target on RBC Bearings from $375.00 to $416.00 and gave the company a "neutral" rating in a report on Tuesday, July 8th. Deutsche Bank Aktiengesellschaft started coverage on RBC Bearings in a report on Wednesday, July 16th. They set a "buy" rating and a $480.00 price target for the company. Morgan Stanley reaffirmed an "overweight" rating and set a $415.00 price target (up from $390.00) on shares of RBC Bearings in a report on Tuesday, May 20th. Finally, Truist Financial raised 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. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average 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.