RBC Bearings Incorporated $RBC Shares Bought by Cresset Asset Management LLC

Key Points

• Cresset Asset Management LLC increased its stake in RBC Bearings by 13.6% during the first quarter, owning approximately 0.13% of the company worth $12.75 million.
• Investment analysts have raised their price targets for RBC Bearings, with a consensus target price of $425.17 and a current rating of "Moderate Buy."
• RBC Bearings reported an earnings per share (EPS) of $2.84 for the last quarter, surpassing estimates, with year-over-year revenue growth of 7.3% to $436 million.

Cresset Asset Management LLC increased its holdings in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 13.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 39,630 shares of the industrial products company's stock after purchasing an additional 4,759 shares during the quarter. Cresset Asset Management LLC owned 0.13% of RBC Bearings worth $12,752,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Durable Capital Partners LP boosted its holdings in 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 valued at $787,141,000 after acquiring an additional 48,287 shares during the period. T. Rowe Price Investment Management Inc. boosted its holdings in RBC Bearings by 0.3% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,097,321 shares of the industrial products company's stock valued at $328,253,000 after acquiring an additional 2,884 shares during the period. Geneva Capital Management LLC boosted its holdings in RBC Bearings by 1.0% during the 1st quarter. Geneva Capital Management LLC now owns 589,418 shares of the industrial products company's stock valued at $189,657,000 after acquiring an additional 5,753 shares during the period. Ameriprise Financial Inc. boosted its holdings in RBC Bearings by 32.6% during the 4th quarter. Ameriprise Financial Inc. now owns 534,881 shares of the industrial products company's stock valued at $159,998,000 after acquiring an additional 131,614 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in RBC Bearings by 1.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 358,438 shares of the industrial products company's stock valued at $107,221,000 after acquiring an additional 6,667 shares during the period.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on RBC. KeyCorp raised their target price on RBC Bearings from $405.00 to $450.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Zacks Research upgraded RBC Bearings from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 13th. Deutsche Bank Aktiengesellschaft started coverage on RBC Bearings in a report on Wednesday, July 16th. They set a "buy" rating and a $480.00 target price for the company. Truist Financial lifted their price objective on RBC Bearings from $431.00 to $455.00 and gave the company a "buy" rating in a research note on Monday, August 4th. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $415.00 price objective (up previously from $390.00) on shares of RBC Bearings in a research note on Tuesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $425.17.

Insiders Place Their Bets

In related news, Director Steven H. Kaplan sold 400 shares of the business's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $381.30, for a total transaction of $152,520.00. Following the completion of the sale, the director owned 2,499 shares in the company, valued at $952,868.70. The trade was a 13.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael J. Hartnett sold 9,000 shares of RBC Bearings 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 transaction, the chief executive officer directly 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 disclosure for this sale can be found here. Insiders have sold 125,716 shares of company stock worth $48,818,116 in the last three months. 1.90% of the stock is owned by company insiders.

RBC Bearings Stock Up 3.3%

RBC stock traded up $12.9750 during trading on Friday, hitting $403.4950. 93,757 shares of the company's stock were exchanged, compared to its average volume of 165,949. The business has a 50-day moving average price of $388.16 and a two-hundred day moving average price of $361.95. The stock has a market capitalization of $12.73 billion, a price-to-earnings ratio of 50.82, a PEG ratio of 3.04 and a beta of 1.71. RBC Bearings Incorporated has a 52-week low of $272.50 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 posted its earnings results on Friday, August 1st. The industrial products company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.74 by $0.10. The firm had revenue of $436.00 million during the quarter, compared to analysts' expectations of $432.63 million. RBC Bearings had a return on equity of 10.14% and a net margin of 15.20%.The firm's revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.54 earnings per share. RBC Bearings has set its Q2 2026 guidance at EPS. As a group, equities research analysts expect that RBC Bearings Incorporated will post 9.16 EPS for the current year.

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.