Lisanti Capital Growth LLC Takes Position in RBC Bearings Incorporated (NYSE:RBC)

Lisanti Capital Growth LLC purchased a new stake in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,550 shares of the industrial products company's stock, valued at approximately $5,004,000. RBC Bearings accounts for about 1.5% of Lisanti Capital Growth LLC's portfolio, making the stock its 21st biggest holding.

Several other large investors have also made changes to their positions in RBC. NBC Securities Inc. acquired a new position in shares of RBC Bearings during the first quarter valued at $25,000. Thurston Springer Miller Herd & Titak Inc. increased its holdings in RBC Bearings by 109.3% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 113 shares of the industrial products company's stock valued at $36,000 after purchasing an additional 59 shares during the last quarter. Golden State Wealth Management LLC increased its holdings in RBC Bearings by 107.1% in the first quarter. Golden State Wealth Management LLC now owns 263 shares of the industrial products company's stock valued at $85,000 after purchasing an additional 136 shares during the last quarter. UMB Bank n.a. increased its holdings in RBC Bearings by 80.8% in the first quarter. UMB Bank n.a. now owns 311 shares of the industrial products company's stock valued at $100,000 after purchasing an additional 139 shares during the last quarter. Finally, Quarry LP increased its holdings in RBC Bearings by 30.9% in the fourth quarter. Quarry LP now owns 390 shares of the industrial products company's stock valued at $117,000 after purchasing an additional 92 shares during the last quarter.

Insider Buying and Selling at RBC Bearings

In other news, Director Steven H. Kaplan sold 400 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $381.30, for a total value of $152,520.00. Following the completion of the sale, the director now directly owns 2,499 shares of the company's stock, valued at $952,868.70. This trade represents a 13.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Michael H. Ambrose sold 595 shares of the firm'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 now directly owns 6,985 shares of the company's stock, valued at approximately $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 a total of 76,973 shares of company stock worth $29,186,872 over the last ninety days. 2.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

RBC has been the subject of several recent analyst reports. Truist Financial increased their price target on RBC Bearings from $405.00 to $431.00 and gave the stock a "buy" rating in a report on Thursday, June 12th. Morgan Stanley reiterated an "overweight" rating and set a $415.00 price objective (up from $390.00) on shares of RBC Bearings in a report on Tuesday, May 20th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $394.00.

RBC Bearings Stock Down 1.7%

RBC stock opened at $381.20 on Friday. 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 business has a 50 day moving average price of $360.61 and a two-hundred day moving average price of $340.62. The company has a market cap of $11.97 billion, a price-to-earnings ratio of 49.70, a P/E/G ratio of 3.89 and a beta of 1.66. RBC Bearings Incorporated has a twelve month low of $260.53 and a twelve month high of $393.51.

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

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.

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