Geneva Capital Management LLC Buys 5,753 Shares of RBC Bearings Incorporated (NYSE:RBC)

Geneva Capital Management LLC boosted its position in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 1.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 589,418 shares of the industrial products company's stock after buying an additional 5,753 shares during the period. RBC Bearings makes up approximately 3.5% of Geneva Capital Management LLC's investment portfolio, making the stock its 3rd largest holding. Geneva Capital Management LLC owned 1.88% of RBC Bearings worth $189,657,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC increased its position in shares of RBC Bearings by 38,860.9% during the 1st quarter. GAMMA Investing LLC now owns 201,428 shares of the industrial products company's stock worth $64,813,000 after purchasing an additional 200,911 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of RBC Bearings by 32.6% during the 4th quarter. Ameriprise Financial Inc. now owns 534,881 shares of the industrial products company's stock worth $159,998,000 after purchasing an additional 131,614 shares during the last quarter. First Trust Advisors LP increased its position in shares of RBC Bearings by 63.5% during the 4th quarter. First Trust Advisors LP now owns 315,661 shares of the industrial products company's stock worth $94,427,000 after purchasing an additional 122,552 shares during the last quarter. Durable Capital Partners LP increased its position in shares of RBC Bearings by 1.9% during the 4th quarter. Durable Capital Partners LP now owns 2,631,346 shares of the industrial products company's stock worth $787,141,000 after purchasing an additional 48,287 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in RBC Bearings by 18.2% during the 4th quarter. Northern Trust Corp now owns 276,340 shares of the industrial products company's stock valued at $82,664,000 after acquiring an additional 42,459 shares during the period.

Analyst Ratings Changes

Several research firms recently weighed in on RBC. Truist Financial boosted their target price on RBC Bearings from $431.00 to $455.00 and gave the stock a "buy" rating in a research note on Monday. Deutsche Bank Aktiengesellschaft began coverage on RBC Bearings in a research note on Wednesday, July 16th. They set a "buy" rating and a $480.00 target price for the company. Morgan Stanley restated an "overweight" rating and set a $415.00 target price (up previously from $390.00) on shares of RBC Bearings in a research note on Tuesday, May 20th. The Goldman Sachs Group boosted their target price on RBC Bearings from $375.00 to $416.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 8th. Finally, KeyCorp lifted their price target on RBC Bearings from $405.00 to $450.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, RBC Bearings currently has a consensus rating of "Moderate Buy" and an average price target of $425.17.

RBC Bearings Price Performance

Shares of NYSE:RBC traded down $2.83 on Tuesday, hitting $403.15. The company had a trading volume of 134,229 shares, compared to its average volume of 171,130. The company has a market cap of $12.72 billion, a PE ratio of 50.77, a PEG ratio of 3.33 and a beta of 1.71. The business has a 50 day moving average of $381.22 and a 200 day moving average of $355.60. RBC Bearings Incorporated has a 52-week low of $271.49 and a 52-week high of $416.33. 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 (NYSE:RBC - Get Free Report) last announced its quarterly earnings results on Friday, August 1st. The industrial products company reported $2.84 EPS for the quarter, topping the consensus estimate of $2.74 by $0.10. RBC Bearings had a return on equity of 10.14% and a net margin of 15.20%. The company had revenue of $436.00 million during the quarter, compared to analyst estimates of $432.63 million. During the same period in the prior year, the firm posted $2.54 earnings per share. The firm's revenue was up 7.3% on a year-over-year basis. As a group, equities analysts anticipate that RBC Bearings Incorporated will post 9.16 earnings per share for the current fiscal year.

Insider Transactions at RBC Bearings

In other news, Director Michael H. Ambrose sold 595 shares of RBC Bearings stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $367.32, for a total transaction of $218,555.40. Following the transaction, the director directly owned 6,985 shares in the company, valued at approximately $2,565,730.20. This trade represents a 7.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael J. Hartnett sold 26,725 shares of the firm's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $381.09, for a total value 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. This trade represents a 7.78% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 76,973 shares of company stock worth $29,186,872. 1.90% of the stock is currently owned by corporate insiders.

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.