Mountain Pacific Investment Advisers LLC Has $28.87 Million Holdings in RBC Bearings Incorporated (NYSE:RBC)

Mountain Pacific Investment Advisers LLC cut its holdings in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 0.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,708 shares of the industrial products company's stock after selling 722 shares during the quarter. 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 about 0.29% of RBC Bearings worth $28,865,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Park Avenue Securities LLC increased its stake in shares of RBC Bearings by 50.8% during 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 during the last quarter. Deutsche Bank AG increased its stake in shares of RBC Bearings by 2.9% during the 4th quarter. Deutsche Bank AG now owns 1,768 shares of the industrial products company's stock worth $529,000 after purchasing an additional 49 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of RBC Bearings by 0.6% during the 4th quarter. Bank of New York Mellon Corp now owns 199,174 shares of the industrial products company's stock worth $59,581,000 after purchasing an additional 1,103 shares during the last quarter. Callan Family Office LLC increased its stake in shares of RBC Bearings by 251.7% during the 4th quarter. Callan Family Office LLC now owns 2,416 shares of the industrial products company's stock worth $723,000 after purchasing an additional 1,729 shares during the last quarter. Finally, Advantage Alpha Capital Partners LP increased its stake in shares of RBC Bearings by 35.3% during the 4th quarter. Advantage Alpha Capital Partners LP now owns 18,514 shares of the industrial products company's stock worth $5,545,000 after purchasing an additional 4,835 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Truist Financial boosted 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 restated 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 research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $394.00.

RBC Bearings Stock Performance

RBC traded up $4.83 on Thursday, reaching $371.88. The company had a trading volume of 131,680 shares, compared to its average volume of 159,762. RBC Bearings Incorporated has a fifty-two week low of $260.53 and a fifty-two week high of $386.41. The stock has a market cap of $11.68 billion, a P/E ratio of 48.48, a P/E/G ratio of 3.75 and a beta of 1.66. The company's fifty day moving average is $353.09 and its 200 day moving average is $338.43. 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 (NYSE:RBC - Get Free Report) last announced its quarterly earnings results on Friday, May 16th. The industrial products company reported $2.83 EPS for the quarter, beating analysts' consensus estimates of $2.70 by $0.13. RBC Bearings had a net margin of 15.05% and a return on equity of 10.08%. The business had revenue of $437.70 million for the quarter, compared to analyst estimates of $440.26 million. During the same quarter in the prior year, the business earned $2.47 EPS. RBC Bearings's quarterly revenue was up 5.8% on a year-over-year basis. As a group, analysts predict that RBC Bearings Incorporated will post 9.16 earnings per share for the current fiscal year.

Insider Activity at RBC Bearings

In related news, COO Daniel A. Bergeron sold 3,718 shares of the company's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $382.21, for a total value of $1,421,056.78. Following the transaction, the chief operating officer now owns 111,134 shares in the company, valued at approximately $42,476,526.14. This represents a 3.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael J. Hartnett sold 253 shares of the business's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $382.85, for a total transaction of $96,861.05. Following the completion of the sale, the chief executive officer now directly owns 316,853 shares of the company's stock, valued at $121,307,171.05. This represents a 0.08% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 67,378 shares of company stock worth $25,625,987. Insiders own 2.60% of the company's stock.

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.