Blair William & Co. IL Grows Position in RBC Bearings Incorporated (NYSE:RBC)

Blair William & Co. IL increased its stake in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 13.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 210,485 shares of the industrial products company's stock after buying an additional 24,885 shares during the quarter. Blair William & Co. IL owned 0.67% of RBC Bearings worth $67,728,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of RBC. NBC Securities Inc. purchased a new position in shares of RBC Bearings during the 1st quarter valued at $25,000. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of RBC Bearings by 109.3% during the 1st 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 period. Golden State Wealth Management LLC raised its stake in shares of 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 purchasing an additional 136 shares during the period. UMB Bank n.a. raised its stake in shares of RBC Bearings by 80.8% during the 1st 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. Finally, Quarry LP raised its stake in shares of RBC Bearings by 30.9% during the 4th quarter. Quarry LP now owns 390 shares of the industrial products company's stock valued at $117,000 after purchasing an additional 92 shares during the period.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on RBC shares. KeyCorp upped their target price on RBC Bearings from $405.00 to $450.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. Truist Financial upped 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. Morgan Stanley restated an "overweight" rating and issued a $415.00 target price (up from $390.00) on shares of RBC Bearings in a research note on Tuesday, May 20th. The Goldman Sachs Group upped 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, Deutsche Bank Aktiengesellschaft assumed coverage on RBC Bearings in a research report on Wednesday, July 16th. They set a "buy" rating and a $480.00 price objective on the stock. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $425.17.

RBC Bearings Price Performance

Shares of RBC Bearings stock traded down $2.83 during trading on Tuesday, hitting $403.15. 134,229 shares of the stock traded hands, compared to its average volume of 171,130. The company has a quick ratio of 1.33, a current ratio of 3.33 and a debt-to-equity ratio of 0.29. The stock has a market cap of $12.72 billion, a price-to-earnings ratio of 50.77, a PEG ratio of 3.33 and a beta of 1.71. The firm's fifty day moving average is $381.22 and its 200-day moving average is $355.60. RBC Bearings Incorporated has a 52 week low of $271.49 and a 52 week high of $416.33.

RBC Bearings (NYSE:RBC - Get Free Report) last posted its quarterly earnings results on Friday, August 1st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.74 by $0.10. The business had revenue of $436.00 million for the quarter, compared to analyst estimates of $432.63 million. RBC Bearings had a return on equity of 10.14% and a net margin of 15.20%. RBC Bearings's revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period last year, the company earned $2.54 EPS. Research analysts expect that RBC Bearings Incorporated will post 9.16 EPS for the current fiscal year.

Insiders Place Their Bets

In other RBC Bearings news, CEO Michael J. Hartnett sold 9,000 shares of the stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $371.37, for a total value of $3,342,330.00. Following the completion of the sale, the chief executive officer owned 302,853 shares in the company, valued at approximately $112,470,518.61. This trade represents a 2.89% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Michael H. Ambrose sold 595 shares of the stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $367.32, for a total value of $218,555.40. Following the completion of the sale, the director owned 6,985 shares of the company's stock, valued at approximately $2,565,730.20. This trade represents a 7.85% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 76,973 shares of company stock worth $29,186,872. Corporate insiders own 1.90% of the company's stock.

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.