GW&K Investment Management LLC Cuts Stock Holdings in RBC Bearings Incorporated (NYSE:RBC)

GW&K Investment Management LLC cut its stake in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 1.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 460,531 shares of the industrial products company's stock after selling 7,551 shares during the quarter. RBC Bearings accounts for about 1.4% of GW&K Investment Management LLC's investment portfolio, making the stock its largest holding. GW&K Investment Management LLC owned 1.47% of RBC Bearings worth $148,185,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in RBC. HighTower Advisors LLC grew its position in RBC Bearings by 2.5% during the fourth quarter. HighTower Advisors LLC now owns 8,376 shares of the industrial products company's stock valued at $2,505,000 after buying an additional 206 shares during the period. Envestnet Portfolio Solutions Inc. grew its position in RBC Bearings by 2.5% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 3,243 shares of the industrial products company's stock valued at $970,000 after buying an additional 78 shares during the period. Thrivent Financial for Lutherans boosted its position in shares of RBC Bearings by 7.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 7,350 shares of the industrial products company's stock worth $2,199,000 after purchasing an additional 524 shares during the period. Xponance Inc. boosted its position in shares of RBC Bearings by 10.9% in the fourth quarter. Xponance Inc. now owns 3,440 shares of the industrial products company's stock worth $1,029,000 after purchasing an additional 338 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of RBC Bearings by 7.7% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,899 shares of the industrial products company's stock worth $2,064,000 after purchasing an additional 494 shares during the period.

RBC Bearings Price Performance

RBC Bearings stock traded down $3.50 during mid-day trading on Thursday, reaching $385.80. 20,010 shares of the company's stock traded hands, compared to its average volume of 164,539. The company has a market cap of $12.12 billion, a price-to-earnings ratio of 50.30, a PEG ratio of 3.20 and a beta of 1.65. The stock has a 50 day moving average of $376.96 and a two-hundred day moving average of $349.71. The company has a quick ratio of 1.18, a current ratio of 3.26 and a debt-to-equity ratio of 0.30. RBC Bearings Incorporated has a 12-month low of $260.53 and a 12-month high of $402.22.

RBC Bearings (NYSE:RBC - Get Free Report) last released its quarterly earnings results on Friday, May 16th. The industrial products company reported $2.83 earnings per share (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 company had revenue of $437.70 million for the quarter, compared to the consensus estimate of $440.26 million. During the same quarter in the prior year, the firm earned $2.47 earnings per share. RBC Bearings's revenue was up 5.8% on a year-over-year basis. Equities analysts forecast that RBC Bearings Incorporated will post 9.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Truist Financial upped 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. Morgan Stanley reiterated an "overweight" rating and issued a $415.00 price target (up from $390.00) on shares of RBC Bearings in a research report on Tuesday, May 20th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of RBC Bearings in a research report on Wednesday, July 16th. They issued a "buy" rating and a $480.00 price target for the company. KeyCorp upped their price target on shares of RBC Bearings from $405.00 to $450.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. Finally, The Goldman Sachs Group upped their price target on shares of RBC Bearings from $375.00 to $416.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 8th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, RBC Bearings has an average rating of "Moderate Buy" and a consensus target price of $421.17.

Insider Activity

In other news, Director Steven H. Kaplan sold 400 shares of the stock in a transaction on Monday, June 9th. The shares were sold at an average price of $381.30, for a total value of $152,520.00. Following the sale, the director owned 2,499 shares of the company's stock, valued at approximately $952,868.70. This represents a 13.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael H. Ambrose sold 595 shares of the stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $367.32, for a total transaction of $218,555.40. Following the completion of the sale, the director directly owned 6,985 shares in the company, valued at approximately $2,565,730.20. This represents a 7.85% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 76,973 shares of company stock worth $29,186,872. Insiders own 2.60% of the company's stock.

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.