Segall Bryant & Hamill LLC Has $26.28 Million Stock Position in RBC Bearings Incorporated (NYSE:RBC)

Segall Bryant & Hamill LLC increased its position in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 2.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 0.26% of RBC Bearings worth $26,283,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Park Avenue Securities LLC lifted its holdings in RBC Bearings by 50.8% during the first quarter. Park Avenue Securities LLC now owns 2,647 shares of the industrial products company's stock worth $852,000 after buying an additional 892 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of RBC Bearings during the 1st quarter valued at about $253,000. Deutsche Bank AG grew its position in shares of RBC Bearings by 2.9% during the 4th quarter. Deutsche Bank AG now owns 1,768 shares of the industrial products company's stock valued at $529,000 after acquiring an additional 49 shares during the period. New York State Teachers Retirement System lifted its stake in RBC Bearings by 21.3% in the 1st quarter. New York State Teachers Retirement System now owns 5,700 shares of the industrial products company's stock valued at $1,834,000 after buying an additional 1,000 shares in the last quarter. Finally, Personal CFO Solutions LLC purchased a new position in RBC Bearings in the 1st quarter valued at about $296,000.

Analysts Set New Price Targets

A number of research analysts have weighed in on RBC shares. Morgan Stanley reissued an "overweight" rating and issued a $415.00 target price (up from $390.00) on shares of RBC Bearings in a research note on Tuesday, May 20th. 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 report on Tuesday. Truist Financial raised their price target on shares of RBC Bearings from $405.00 to $431.00 and gave the stock a "buy" rating in a report on Thursday, June 12th. The Goldman Sachs Group lifted their target price on shares of RBC Bearings from $375.00 to $416.00 and gave the company a "neutral" rating in a report on Tuesday, July 8th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of RBC Bearings in a report on Wednesday. They issued a "buy" rating and a $480.00 target price for the company. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, RBC Bearings currently has a consensus rating of "Moderate Buy" and an average target price of $421.17.

Insider Activity at RBC Bearings

In related news, Director Michael H. Ambrose sold 595 shares of the business's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $367.32, for a total transaction of $218,555.40. Following the transaction, the director directly owned 6,985 shares of the company's stock, valued at approximately $2,565,730.20. The trade was a 7.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Daniel A. Bergeron sold 31,282 shares of RBC Bearings stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $380.28, for a total transaction of $11,895,918.96. Following the completion of the sale, the chief operating officer owned 111,134 shares of the company's stock, valued at $42,262,037.52. This trade 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 76,973 shares of company stock valued at $29,186,872. Company insiders own 2.60% of the company's stock.

RBC Bearings Stock Performance

NYSE:RBC traded up $0.44 during mid-day trading on Friday, hitting $397.47. The stock had a trading volume of 43,795 shares, compared to its average volume of 159,970. The stock has a market capitalization of $12.48 billion, a price-to-earnings ratio of 51.81, a P/E/G ratio of 3.96 and a beta of 1.65. The company has a 50 day simple moving average of $374.97 and a 200-day simple moving average of $347.40. RBC Bearings Incorporated has a 52 week low of $260.53 and a 52 week high of $402.38. 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 released its earnings results on Friday, May 16th. The industrial products company reported $2.83 earnings per share for the quarter, topping the consensus estimate of $2.70 by $0.13. RBC Bearings had a net margin of 15.05% and a return on equity of 10.08%. The business had revenue of $437.70 million for the quarter, compared to the consensus estimate of $440.26 million. During the same period last year, the firm posted $2.47 earnings per share. The firm's quarterly revenue was up 5.8% compared to the same quarter last year. On average, research analysts expect that RBC Bearings Incorporated will post 9.16 earnings per share for the current fiscal year.

RBC Bearings Company 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.