Stephens Investment Management Group LLC Acquires 1,211 Shares of RBC Bearings Incorporated (NYSE:RBC)

Stephens Investment Management Group LLC increased its holdings in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 0.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 306,246 shares of the industrial products company's stock after acquiring an additional 1,211 shares during the period. RBC Bearings makes up 1.4% of Stephens Investment Management Group LLC's investment portfolio, making the stock its 15th largest holding. Stephens Investment Management Group LLC owned about 0.98% of RBC Bearings worth $98,541,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Park Avenue Securities LLC boosted its stake 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 acquiring an additional 892 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in shares of RBC Bearings in the first quarter worth approximately $253,000. Deutsche Bank AG lifted its stake in shares of RBC Bearings by 2.9% in the fourth quarter. Deutsche Bank AG now owns 1,768 shares of the industrial products company's stock worth $529,000 after buying an additional 49 shares in the last quarter. New York State Teachers Retirement System lifted its stake in shares of RBC Bearings by 21.3% in the first quarter. New York State Teachers Retirement System now owns 5,700 shares of the industrial products company's stock worth $1,834,000 after buying an additional 1,000 shares in the last quarter. Finally, Bessemer Group Inc. lifted its stake in shares of RBC Bearings by 24.5% in the first quarter. Bessemer Group Inc. now owns 97,070 shares of the industrial products company's stock worth $31,234,000 after buying an additional 19,133 shares in the last quarter.

Analysts Set New Price Targets

Several brokerages have recently issued reports on RBC. 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 upped their target price on shares of RBC Bearings from $405.00 to $431.00 and gave the stock a "buy" rating in a research note on Thursday, June 12th. Finally, The Goldman Sachs Group upped their target price 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. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, RBC Bearings currently has a consensus rating of "Moderate Buy" and an average price target of $398.40.

Insider Activity

In related news, Director Steven H. Kaplan sold 400 shares of the firm's 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 completion of the transaction, the director directly owned 2,499 shares of the company's stock, valued at approximately $952,868.70. This trade represents a 13.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Daniel A. Bergeron sold 31,282 shares of the firm's stock in a transaction 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 transaction, the chief operating officer directly owned 111,134 shares of the company's stock, valued at $42,262,037.52. The trade was a 21.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 76,973 shares of company stock valued at $29,186,872. 2.60% of the stock is currently owned by company insiders.

RBC Bearings Stock Performance

Shares of RBC traded down $0.94 during mid-day trading on Friday, hitting $377.97. 145,803 shares of the company traded hands, compared to its average volume of 160,835. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.18 and a current ratio of 3.26. The stock has a 50-day moving average price of $371.71 and a two-hundred day moving average price of $345.38. RBC Bearings Incorporated has a 1 year low of $260.53 and a 1 year high of $393.51. The stock has a market cap of $11.87 billion, a price-to-earnings ratio of 49.28, a P/E/G ratio of 3.86 and a beta of 1.65.

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, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $440.26 million. During the same period in the prior year, the company earned $2.47 earnings per share. The firm's revenue was up 5.8% on a year-over-year basis. Equities analysts anticipate that RBC Bearings Incorporated will post 9.16 earnings per share for the current year.

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.