Mountain Pacific Investment Advisers LLC Decreases Position in RBC Bearings Incorporated (NYSE:RBC)

Mountain Pacific Investment Advisers LLC cut its holdings in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 0.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 89,708 shares of the industrial products company's stock after selling 722 shares during the period. RBC Bearings makes up 2.1% of Mountain Pacific Investment Advisers LLC's portfolio, making the stock its 17th largest position. Mountain Pacific Investment Advisers LLC owned 0.29% of RBC Bearings worth $28,865,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. NBC Securities Inc. bought a new stake in shares of RBC Bearings in the 1st quarter valued at about $25,000. Thurston Springer Miller Herd & Titak Inc. lifted its position 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. UMB Bank n.a. boosted its stake in shares of RBC Bearings by 80.8% during 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 period. Quarry LP grew its holdings in shares of RBC Bearings by 30.9% in the fourth quarter. Quarry LP now owns 390 shares of the industrial products company's stock worth $117,000 after purchasing an additional 92 shares during the last quarter. Finally, Venturi Wealth Management LLC increased its stake in shares of RBC Bearings by 2,405.3% in the fourth quarter. Venturi Wealth Management LLC now owns 476 shares of the industrial products company's stock worth $142,000 after buying an additional 457 shares during the period.

Insiders Place Their Bets

In other RBC Bearings news, COO Daniel A. Bergeron sold 31,282 shares of the firm's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $380.28, for a total transaction of $11,895,918.96. Following the completion of the transaction, the chief operating officer now owns 111,134 shares of the company's stock, valued at approximately $42,262,037.52. This trade represents a 21.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Michael J. Hartnett sold 253 shares of the business's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $382.85, for a total transaction of $96,861.05. Following the sale, the chief executive officer now owns 316,853 shares in the company, valued at approximately $121,307,171.05. This trade represents a 0.08% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 67,378 shares of company stock worth $25,625,987. Company insiders own 2.60% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Truist Financial increased their price target on shares of RBC Bearings from $405.00 to $431.00 and gave the company a "buy" rating in a research report on Thursday. Morgan Stanley reaffirmed an "overweight" rating and set a $415.00 price objective (up from $390.00) on shares of RBC Bearings in a research note on Tuesday, May 20th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, RBC Bearings currently has a consensus rating of "Moderate Buy" and an average price target of $394.00.

RBC Bearings Stock Performance

NYSE:RBC opened at $369.67 on Monday. The company has a quick ratio of 1.18, a current ratio of 3.43 and a debt-to-equity ratio of 0.34. The firm's fifty day simple moving average is $350.35 and its 200 day simple moving average is $337.76. The stock has a market cap of $11.61 billion, a P/E ratio of 50.78, a price-to-earnings-growth ratio of 4.42 and a beta of 1.66. RBC Bearings Incorporated has a twelve month low of $260.53 and a twelve month high of $386.41.

RBC Bearings (NYSE:RBC - Get Free Report) last posted its earnings results on Friday, May 16th. The industrial products company reported $2.83 EPS for the quarter, topping the consensus estimate of $2.70 by $0.13. RBC Bearings had a net margin of 14.59% and a return on equity of 10.06%. The firm had revenue of $437.70 million during the quarter, compared to analysts' expectations of $440.26 million. During the same period last year, the company posted $2.47 EPS. The company's quarterly revenue was up 5.8% compared to the same quarter last year. As a group, research analysts predict that RBC Bearings Incorporated will post 9.16 EPS for the current 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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