Kayne Anderson Rudnick Investment Management LLC Decreases Position in RBC Bearings Incorporated $RBC

Key Points

• Kayne Anderson Rudnick Investment Management LLC reduced its stake in RBC Bearings by 6.1% in the first quarter, now holding about 1.4% of the company's shares.
• Insider transactions include COO Daniel A. Bergeron selling 48,743 shares of stock for over $19 million, representing a 30.49% decrease in ownership.
• Several analysts have upgraded their ratings on RBC Bearings, with target prices ranging from $416.00 to $480.00, indicating positive sentiment toward the company.

Kayne Anderson Rudnick Investment Management LLC trimmed its stake in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 6.1% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 1,790,089 shares of the industrial products company's stock after selling 116,094 shares during the quarter. RBC Bearings comprises about 1.4% of Kayne Anderson Rudnick Investment Management LLC's portfolio, making the stock its 18th biggest holding. Kayne Anderson Rudnick Investment Management LLC owned approximately 5.70% of RBC Bearings worth $575,997,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Park Avenue Securities LLC increased its holdings in RBC Bearings by 50.8% in the 1st quarter. Park Avenue Securities LLC now owns 2,647 shares of the industrial products company's stock worth $852,000 after purchasing an additional 892 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in shares of RBC Bearings during the 1st quarter valued at about $253,000. Deutsche Bank AG boosted its holdings in RBC Bearings by 2.9% in the fourth quarter. Deutsche Bank AG now owns 1,768 shares of the industrial products company's stock worth $529,000 after acquiring an additional 49 shares in the last quarter. New York State Teachers Retirement System boosted its holdings in RBC Bearings by 21.3% in the first quarter. New York State Teachers Retirement System now owns 5,700 shares of the industrial products company's stock worth $1,834,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Personal CFO Solutions LLC bought a new position in RBC Bearings in the first quarter worth approximately $296,000.

Analysts Set New Price Targets

Several analysts have recently commented on RBC shares. Deutsche Bank Aktiengesellschaft initiated coverage on RBC Bearings in a research note on Wednesday, July 16th. They issued a "buy" rating and a $480.00 price objective for the company. Truist Financial lifted their price objective on RBC Bearings from $431.00 to $455.00 and gave the company a "buy" rating in a research note on Monday, August 4th. Zacks Research raised RBC Bearings from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 13th. KeyCorp boosted their target price on RBC Bearings from $405.00 to $450.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $415.00 price target (up previously from $390.00) on shares of RBC Bearings in a research report on Tuesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, RBC Bearings currently has a consensus rating of "Moderate Buy" and a consensus price target of $425.17.

Insiders Place Their Bets

In other news, CEO Michael J. Hartnett sold 9,000 shares of RBC Bearings stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $371.37, for a total value of $3,342,330.00. Following the sale, the chief executive officer directly owned 302,853 shares of the company's stock, valued at approximately $112,470,518.61. The trade was a 2.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael H. Ambrose sold 595 shares of the business's stock in a transaction that occurred 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 sale, the director directly owned 6,985 shares in the company, valued at $2,565,730.20. The trade was a 7.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 125,716 shares of company stock valued at $48,818,116 in the last ninety days. Insiders own 1.90% of the company's stock.

RBC Bearings Stock Performance

Shares of NYSE RBC traded down $8.01 during midday trading on Friday, hitting $390.70. 60,819 shares of the stock traded hands, compared to its average volume of 166,460. The firm has a 50-day moving average of $391.15 and a two-hundred day moving average of $363.13. The firm has a market capitalization of $12.33 billion, a P/E ratio of 49.20, a PEG ratio of 3.09 and a beta of 1.71. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.33 and a current ratio of 3.33. RBC Bearings Incorporated has a one year low of $272.50 and a one year high of $416.33.

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

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.