Regents Gate Capital LLP Buys Shares of 1,147 RBC Bearings Incorporated (NYSE:RBC)

Regents Gate Capital LLP acquired a new position in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 1,147 shares of the industrial products company's stock, valued at approximately $369,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank bought a new position in RBC Bearings in the fourth quarter worth about $88,184,000. Vanguard Group Inc. lifted its holdings in RBC Bearings by 8.5% in the fourth quarter. Vanguard Group Inc. now owns 2,938,923 shares of the industrial products company's stock worth $879,149,000 after acquiring an additional 229,466 shares during the last quarter. GAMMA Investing LLC lifted its holdings in RBC Bearings by 38,860.9% in the first quarter. GAMMA Investing LLC now owns 201,428 shares of the industrial products company's stock worth $64,813,000 after acquiring an additional 200,911 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in RBC Bearings by 32.6% in the fourth quarter. Ameriprise Financial Inc. now owns 534,881 shares of the industrial products company's stock worth $159,998,000 after acquiring an additional 131,614 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in RBC Bearings by 63.5% in the fourth quarter. First Trust Advisors LP now owns 315,661 shares of the industrial products company's stock worth $94,427,000 after acquiring an additional 122,552 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. The Goldman Sachs Group raised their target price on shares of RBC Bearings from $375.00 to $416.00 and gave the stock a "neutral" rating in a report on Tuesday. Morgan Stanley reaffirmed an "overweight" rating and set a $415.00 price target (up previously from $390.00) on shares of RBC Bearings in a report on Tuesday, May 20th. Finally, Truist Financial lifted their price target on RBC Bearings from $405.00 to $431.00 and gave the company a "buy" rating in a report on Thursday, June 12th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $398.40.

Insider Buying and Selling

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 transaction, the director owned 6,985 shares of the company's stock, valued at approximately $2,565,730.20. This represents a 7.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Daniel A. Bergeron sold 31,282 shares of the company's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $380.28, for a total value of $11,895,918.96. Following the completion of the transaction, the chief operating officer directly owned 111,134 shares in the company, valued at $42,262,037.52. This represents a 21.97% 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 over the last three months. Corporate insiders own 2.60% of the company's stock.

RBC Bearings Price Performance

NYSE:RBC traded up $0.85 during midday trading on Thursday, hitting $380.67. 77,032 shares of the stock were exchanged, compared to its average volume of 160,448. RBC Bearings Incorporated has a one year low of $260.53 and a one year high of $393.51. The company has a market capitalization of $11.96 billion, a price-to-earnings ratio of 49.58, a P/E/G ratio of 3.89 and a beta of 1.65. The business has a 50-day moving average price of $370.15 and a two-hundred day moving average price of $344.08. The company has a current ratio of 3.26, a quick ratio of 1.18 and a debt-to-equity ratio of 0.30.

RBC Bearings (NYSE:RBC - Get Free Report) last announced its earnings results on Friday, May 16th. The industrial products company reported $2.83 EPS for the quarter, topping the consensus estimate of $2.70 by $0.13. RBC Bearings had a return on equity of 10.08% and a net margin of 15.05%. The firm had revenue of $437.70 million for the quarter, compared to analysts' expectations of $440.26 million. During the same quarter in the previous year, the company earned $2.47 earnings per share. The firm's quarterly revenue was up 5.8% compared to the same quarter last year. Sell-side analysts predict 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.