RBC Bearings Incorporated (NYSE:RBC) Stock Holdings Reduced by Conestoga Capital Advisors LLC

Conestoga Capital Advisors LLC lowered its holdings in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 1.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 730,487 shares of the industrial products company's stock after selling 9,390 shares during the quarter. RBC Bearings makes up 3.5% of Conestoga Capital Advisors LLC's portfolio, making the stock its 6th biggest position. Conestoga Capital Advisors LLC owned 2.33% of RBC Bearings worth $235,049,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. NBC Securities Inc. purchased a new position in RBC Bearings during the first quarter valued at approximately $25,000. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of RBC Bearings by 109.3% in 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 acquiring an additional 59 shares during the period. UMB Bank n.a. raised its position in shares of RBC Bearings by 80.8% in the 1st quarter. UMB Bank n.a. now owns 311 shares of the industrial products company's stock worth $100,000 after acquiring an additional 139 shares in the last quarter. Quarry LP raised its position in shares of RBC Bearings by 30.9% in the 4th quarter. Quarry LP now owns 390 shares of the industrial products company's stock worth $117,000 after acquiring an additional 92 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its stake in shares of RBC Bearings by 2,405.3% during the 4th quarter. Venturi Wealth Management LLC now owns 476 shares of the industrial products company's stock worth $142,000 after purchasing an additional 457 shares during the last quarter.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Morgan Stanley reiterated an "overweight" rating and issued a $415.00 target price (up previously from $390.00) on shares of RBC Bearings in a research note on Tuesday, May 20th. Truist Financial lifted their price objective 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. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $394.00.

Insider Transactions at RBC Bearings

In related news, Director Steven H. Kaplan sold 400 shares of the stock in a transaction that occurred 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 transaction, the director now owns 2,499 shares in the company, valued at approximately $952,868.70. This represents a 13.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Daniel A. Bergeron sold 31,282 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $380.28, for a total transaction of $11,895,918.96. Following the transaction, the chief operating officer now directly owns 111,134 shares of the company's stock, valued at $42,262,037.52. This represents a 21.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 67,378 shares of company stock worth $25,625,987. Company insiders own 2.60% of the company's stock.

RBC Bearings Stock Down 0.4%

Shares of RBC stock opened at $369.21 on Tuesday. The stock's fifty day moving average price is $351.64 and its 200 day moving average price is $337.99. RBC Bearings Incorporated has a 1-year low of $260.53 and a 1-year high of $386.41. The company has a market cap of $11.60 billion, a price-to-earnings ratio of 50.72, a price-to-earnings-growth ratio of 4.42 and a beta of 1.66. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 1.18.

RBC Bearings (NYSE:RBC - Get Free Report) last issued its quarterly earnings results on Friday, May 16th. The industrial products company reported $2.83 earnings per share for the quarter, topping analysts' consensus estimates of $2.70 by $0.13. The business had revenue of $437.70 million for the quarter, compared to analyst estimates of $440.26 million. RBC Bearings had a return on equity of 10.06% and a net margin of 14.59%. The company's revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.47 earnings per share. On average, research analysts expect that RBC Bearings Incorporated will post 9.16 earnings per share for the current fiscal 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.

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