Conestoga Capital Advisors LLC Has $235.05 Million Position in RBC Bearings Incorporated (NYSE:RBC)

Conestoga Capital Advisors LLC reduced its position in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 1.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 730,487 shares of the industrial products company's stock after selling 9,390 shares during the quarter. RBC Bearings makes up about 3.5% of Conestoga Capital Advisors LLC's investment portfolio, making the stock its 6th largest holding. Conestoga Capital Advisors LLC owned approximately 2.33% of RBC Bearings worth $235,049,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of RBC. NBC Securities Inc. bought a new stake in RBC Bearings in the 1st quarter valued at $25,000. Thurston Springer Miller Herd & Titak Inc. grew its position in shares of RBC Bearings by 109.3% during the first 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 in the last quarter. UMB Bank n.a. grew its position in shares of RBC Bearings by 80.8% during the first 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 in the last quarter. Quarry LP increased its holdings in shares of RBC Bearings by 30.9% in the fourth quarter. Quarry LP now owns 390 shares of the industrial products company's stock worth $117,000 after purchasing an additional 92 shares during the last quarter. Finally, Venturi Wealth Management LLC increased its holdings in shares of RBC Bearings by 2,405.3% in the fourth 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.

RBC Bearings Price Performance

Shares of RBC Bearings stock traded up $0.38 during trading hours on Friday, reaching $372.31. The company's stock had a trading volume of 206,356 shares, compared to its average volume of 162,672. The stock has a market cap of $11.69 billion, a P/E ratio of 48.54, a P/E/G ratio of 3.80 and a beta of 1.66. RBC Bearings Incorporated has a one year low of $260.53 and a one year high of $386.41. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.26 and a quick ratio of 1.18. The firm has a 50 day moving average price of $354.01 and a 200-day moving average price of $338.68.

RBC Bearings (NYSE:RBC - Get Free Report) last posted its quarterly earnings data on Friday, May 16th. The industrial products company reported $2.83 earnings per share for the quarter, beating analysts' consensus estimates of $2.70 by $0.13. The business had revenue of $437.70 million for the quarter, compared to analysts' expectations of $440.26 million. RBC Bearings had a net margin of 15.05% and a return on equity of 10.08%. The business's revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.47 earnings per share. On average, analysts predict that RBC Bearings Incorporated will post 9.16 EPS for the current year.

Analysts Set New Price Targets

RBC has been the subject of a number of research reports. Truist Financial increased their price target on RBC Bearings from $405.00 to $431.00 and gave the company a "buy" rating in a research note on Thursday, June 12th. Morgan Stanley reaffirmed an "overweight" rating and set a $415.00 price objective (up from $390.00) on shares of RBC Bearings in a report on Tuesday, May 20th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $394.00.

Insider Activity at RBC Bearings

In other RBC Bearings news, Director Michael H. Ambrose sold 595 shares of the company's stock in a transaction 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 now directly owns 6,985 shares in the company, valued at approximately $2,565,730.20. This represents a 7.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steven H. Kaplan sold 400 shares of the stock in a transaction on Monday, June 9th. The stock was sold at an average price of $381.30, for a total value of $152,520.00. Following the transaction, the director now directly owns 2,499 shares in the company, valued at $952,868.70. The trade was a 13.80% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 76,973 shares of company stock worth $29,186,872 in the last quarter. 2.60% of the stock is owned by company insiders.

About RBC Bearings

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.