Mutual of America Capital Management LLC Raises Stock Holdings in RBC Bearings Incorporated $RBC

Key Points

• Mutual of America Capital Management LLC increased its stake in RBC Bearings by 121.0%, owning 35,567 shares worth approximately $13.7 million after purchasing an additional 19,473 shares in the second quarter.
• RBC Bearings reported a quarterly EPS of $1.22 and anticipates posting a total of 9.16 EPS for the current fiscal year, indicating positive financial performance.
• Analysts have varying ratings on RBC Bearings, with some upgrading the price target to as high as $503.00, while the consensus rating is a "Moderate Buy" with a price target of $429.00.

Mutual of America Capital Management LLC raised its position in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 121.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 35,567 shares of the industrial products company's stock after purchasing an additional 19,473 shares during the quarter. Mutual of America Capital Management LLC owned 0.11% of RBC Bearings worth $13,686,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Advisors Asset Management Inc. acquired a new stake in shares of RBC Bearings during the first quarter worth about $26,000. Golden State Wealth Management LLC lifted its stake in RBC Bearings by 107.1% during the 1st quarter. Golden State Wealth Management LLC now owns 263 shares of the industrial products company's stock valued at $85,000 after acquiring an additional 136 shares during the period. SVB Wealth LLC purchased a new stake in shares of RBC Bearings in the 1st quarter valued at $111,000. IFP Advisors Inc increased its stake in shares of RBC Bearings by 51.6% in the second quarter. IFP Advisors Inc now owns 291 shares of the industrial products company's stock worth $112,000 after acquiring an additional 99 shares during the period. Finally, Harbor Investment Advisory LLC increased its stake in shares of RBC Bearings by 19.8% in the second quarter. Harbor Investment Advisory LLC now owns 327 shares of the industrial products company's stock worth $126,000 after acquiring an additional 54 shares during the period.

RBC Bearings Stock Performance

NYSE RBC opened at $372.46 on Friday. The stock has a market capitalization of $11.75 billion, a price-to-earnings ratio of 46.91, a PEG ratio of 2.88 and a beta of 1.71. The stock has a 50-day moving average of $385.97 and a 200 day moving average of $371.54. The company has a current ratio of 3.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.29. RBC Bearings Incorporated has a twelve month low of $272.50 and a twelve month high of $416.33.

RBC Bearings (NYSE:RBC - Get Free Report) last posted its quarterly earnings data on Monday, August 15th. The industrial products company reported $1.22 EPS for the quarter. RBC Bearings had a return on equity of 10.14% and a net margin of 15.20%.The business had revenue of $156.21 million during the quarter. Sell-side analysts anticipate that RBC Bearings Incorporated will post 9.16 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

RBC has been the topic of several recent research reports. Truist Financial upped their price target on shares of RBC Bearings from $431.00 to $455.00 and gave the company a "buy" rating in a report on Monday, August 4th. Zacks Research cut RBC Bearings from a "strong-buy" rating to a "hold" rating in a report on Monday, October 6th. Deutsche Bank Aktiengesellschaft set a $503.00 target price on RBC Bearings and gave the stock a "buy" rating in a report on Wednesday, October 8th. KeyCorp boosted their price target on RBC Bearings from $405.00 to $450.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of RBC Bearings in a research note on Wednesday, October 8th. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $429.00.

Insider Buying and Selling at RBC Bearings

In other news, VP John J. Feeney sold 105 shares of RBC Bearings stock in a transaction dated Friday, September 26th. The shares were sold at an average price of $382.83, for a total value of $40,197.15. Following the sale, the vice president owned 2,666 shares in the company, valued at $1,020,624.78. This trade represents a 3.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Daniel A. Bergeron sold 48,743 shares of the business's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $402.75, for a total transaction of $19,631,243.25. Following the sale, the chief operating officer directly owned 111,134 shares of the company's stock, valued at $44,759,218.50. This represents a 30.49% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.90% 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.

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