RBC Bearings Incorporated (NYSE:RBC) Stock Holdings Increased by Bessemer Group Inc.

Bessemer Group Inc. boosted its position in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 24.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 97,070 shares of the industrial products company's stock after purchasing an additional 19,133 shares during the quarter. Bessemer Group Inc. owned about 0.31% of RBC Bearings worth $31,234,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of RBC. Norges Bank bought a new stake in RBC Bearings in the 4th quarter valued at about $88,184,000. Raymond James Financial Inc. bought a new stake in RBC Bearings in the 4th quarter valued at about $71,324,000. Vanguard Group Inc. lifted its position in RBC Bearings by 8.5% in the 4th quarter. Vanguard Group Inc. now owns 2,938,923 shares of the industrial products company's stock valued at $879,149,000 after purchasing an additional 229,466 shares during the last quarter. GAMMA Investing LLC lifted its position in RBC Bearings by 38,860.9% in the 1st quarter. GAMMA Investing LLC now owns 201,428 shares of the industrial products company's stock valued at $64,813,000 after purchasing an additional 200,911 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its position in RBC Bearings by 32.6% in the 4th quarter. Ameriprise Financial Inc. now owns 534,881 shares of the industrial products company's stock valued at $159,998,000 after purchasing an additional 131,614 shares during the last quarter.

RBC Bearings Price Performance

Shares of RBC stock traded down $6.49 during midday trading on Friday, reaching $381.20. 517,470 shares of the company were exchanged, compared to its average volume of 160,419. RBC Bearings Incorporated has a 12 month low of $260.53 and a 12 month high of $393.51. The company has a market cap of $11.97 billion, a P/E ratio of 49.70, a PEG ratio of 3.89 and a beta of 1.66. The company's 50 day moving average price is $360.61 and its two-hundred day moving average price is $340.69. 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 released its quarterly earnings results on Friday, May 16th. The industrial products company reported $2.83 EPS for the quarter, topping 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 company had revenue of $437.70 million for the quarter, compared to the consensus estimate of $440.26 million. During the same period in the previous year, the firm earned $2.47 EPS. RBC Bearings's revenue was up 5.8% on a year-over-year basis. On average, sell-side analysts expect that RBC Bearings Incorporated will post 9.16 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Michael H. Ambrose sold 595 shares of the business'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 sale, the director now directly owns 6,985 shares in the company, valued at $2,565,730.20. The trade was a 7.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael J. Hartnett sold 9,000 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $371.37, for a total transaction of $3,342,330.00. Following the completion of the sale, the chief executive officer now owns 302,853 shares in the company, valued at $112,470,518.61. The trade was a 2.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 76,973 shares of company stock worth $29,186,872 in the last ninety days. 2.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Morgan Stanley reiterated an "overweight" rating and issued a $415.00 price objective (up from $390.00) on shares of RBC Bearings in a research report on Tuesday, May 20th. Truist Financial boosted their price target on shares of RBC Bearings from $405.00 to $431.00 and gave the stock a "buy" rating in a research report on Thursday, June 12th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $394.00.

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.