Segall Bryant & Hamill LLC Raises Stake in RBC Bearings Incorporated (NYSE:RBC)

Segall Bryant & Hamill LLC grew its position in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 2.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 81,684 shares of the industrial products company's stock after buying an additional 2,032 shares during the period. Segall Bryant & Hamill LLC owned approximately 0.26% of RBC Bearings worth $26,283,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. NBC Securities Inc. bought a new position in shares of RBC Bearings during the first quarter worth approximately $25,000. Thurston Springer Miller Herd & Titak Inc. raised its holdings 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 during the period. Golden State Wealth Management LLC raised its holdings in shares of RBC Bearings by 107.1% during the first quarter. Golden State Wealth Management LLC now owns 263 shares of the industrial products company's stock valued at $85,000 after purchasing an additional 136 shares during the period. UMB Bank n.a. increased 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 worth $100,000 after acquiring an additional 139 shares in the last quarter. Finally, Quarry LP grew its position in 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 purchasing an additional 92 shares in the last quarter.

Insider Activity

In related 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 transaction of $152,520.00. Following the transaction, the director owned 2,499 shares of the company's stock, valued at approximately $952,868.70. This trade represents a 13.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael H. Ambrose sold 595 shares of the firm's stock in a transaction on Tuesday, June 17th. The stock was 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 trade represents a 7.85% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 76,973 shares of company stock valued at $29,186,872. 2.60% of the stock is owned by company insiders.

RBC Bearings Stock Performance

Shares of RBC stock traded up $0.10 during trading on Friday, reaching $397.13. 182,095 shares of the company's stock traded hands, compared to its average volume of 160,652. The company has a market capitalization of $12.47 billion, a P/E ratio of 51.78, a PEG ratio of 4.03 and a beta of 1.65. The company has a current ratio of 3.26, a quick ratio of 1.18 and a debt-to-equity ratio of 0.30. The firm's 50-day moving average is $375.94 and its 200 day moving average is $348.08. RBC Bearings Incorporated has a 1 year low of $260.53 and a 1 year high of $402.22.

RBC Bearings (NYSE:RBC - Get Free Report) last announced its quarterly earnings results on Friday, May 16th. The industrial products company reported $2.83 EPS for the quarter, beating analysts' consensus estimates of $2.70 by $0.13. The company 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%. RBC Bearings's revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the company posted $2.47 EPS. Equities research analysts expect that RBC Bearings Incorporated will post 9.16 EPS for the current year.

Analyst Upgrades and Downgrades

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

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.