Lisanti Capital Growth LLC Purchases Shares of 15,550 RBC Bearings Incorporated (NYSE:RBC)

Lisanti Capital Growth LLC bought a new position in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 15,550 shares of the industrial products company's stock, valued at approximately $5,004,000. RBC Bearings makes up approximately 1.5% of Lisanti Capital Growth LLC's investment portfolio, making the stock its 21st largest holding.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its position in RBC Bearings by 0.6% in the fourth quarter. Bank of New York Mellon Corp now owns 199,174 shares of the industrial products company's stock worth $59,581,000 after acquiring an additional 1,103 shares in the last quarter. Amalgamated Bank increased its stake in RBC Bearings by 7.6% in the 4th quarter. Amalgamated Bank now owns 14,731 shares of the industrial products company's stock worth $4,407,000 after purchasing an additional 1,038 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its stake in RBC Bearings by 7.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 6,385 shares of the industrial products company's stock valued at $1,910,000 after buying an additional 454 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in shares of RBC Bearings by 14.4% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 19,186 shares of the industrial products company's stock worth $5,739,000 after buying an additional 2,418 shares during the period. Finally, Mutual of America Capital Management LLC increased its position in shares of RBC Bearings by 5.1% in the fourth quarter. Mutual of America Capital Management LLC now owns 16,500 shares of the industrial products company's stock worth $4,936,000 after acquiring an additional 795 shares in the last quarter.

Analyst Ratings Changes

A number of equities analysts recently commented on RBC shares. Truist Financial raised their price objective on shares of 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 reaffirmed an "overweight" rating and issued a $415.00 target price (up previously from $390.00) on shares of RBC Bearings in a research report on Tuesday, May 20th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $394.00.

Insider Buying and Selling at RBC Bearings

In other RBC Bearings news, Director Michael H. Ambrose sold 595 shares of the business's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $367.32, for a total value of $218,555.40. Following the completion of the sale, the director directly owned 6,985 shares of the company's stock, valued at $2,565,730.20. The trade was a 7.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Michael J. Hartnett sold 26,725 shares of RBC Bearings stock in a transaction on 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 directly 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. Insiders sold a total of 76,973 shares of company stock worth $29,186,872 in the last ninety days. Insiders own 2.60% of the company's stock.

RBC Bearings Stock Up 0.4%

Shares of NYSE RBC traded up $1.41 during mid-day trading on Wednesday, reaching $382.84. The company had a trading volume of 143,730 shares, compared to its average volume of 160,774. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.18 and a current ratio of 3.26. RBC Bearings Incorporated has a twelve month low of $260.53 and a twelve month high of $393.51. The stock's 50 day moving average is $363.28 and its 200-day moving average is $341.38. The stock has a market capitalization of $12.03 billion, a PE ratio of 49.91, a price-to-earnings-growth ratio of 3.93 and a beta of 1.65.

RBC Bearings (NYSE:RBC - Get Free Report) last issued its earnings results on Friday, May 16th. The industrial products company reported $2.83 earnings per share for the quarter, topping 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 company had revenue of $437.70 million for the quarter, compared to analyst estimates of $440.26 million. During the same period in the prior year, the firm posted $2.47 EPS. The business's revenue was up 5.8% compared to the same quarter last year. As a group, equities analysts anticipate that RBC Bearings Incorporated will post 9.16 earnings per share for the current fiscal year.

RBC Bearings 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.