Stephens Investment Management Group LLC Grows Stock Position in RBC Bearings Incorporated (NYSE:RBC)

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

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. boosted its position in RBC Bearings by 8.5% during the 4th quarter. Vanguard Group Inc. now owns 2,938,923 shares of the industrial products company's stock valued at $879,149,000 after acquiring an additional 229,466 shares in the last quarter. Durable Capital Partners LP boosted its position in RBC Bearings by 1.9% during the 4th quarter. Durable Capital Partners LP now owns 2,631,346 shares of the industrial products company's stock valued at $787,141,000 after acquiring an additional 48,287 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its position in RBC Bearings by 0.3% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,097,321 shares of the industrial products company's stock valued at $328,253,000 after acquiring an additional 2,884 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of RBC Bearings by 32.6% in the 4th quarter. Ameriprise Financial Inc. now owns 534,881 shares of the industrial products company's stock worth $159,998,000 after purchasing an additional 131,614 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of RBC Bearings by 5.2% in the 4th quarter. Geode Capital Management LLC now owns 507,771 shares of the industrial products company's stock worth $151,944,000 after purchasing an additional 25,268 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on RBC shares. Deutsche Bank Aktiengesellschaft started coverage on RBC Bearings in a research report on Wednesday. They issued a "buy" rating and a $480.00 price objective for the company. The Goldman Sachs Group raised their price objective on RBC Bearings from $375.00 to $416.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 8th. Morgan Stanley reissued an "overweight" rating and issued a $415.00 price objective (up previously from $390.00) on shares of RBC Bearings in a research report on Tuesday, May 20th. KeyCorp raised their price objective on RBC Bearings from $405.00 to $450.00 and gave the stock an "overweight" rating in a research report on Tuesday. Finally, Truist Financial raised their price objective on RBC Bearings from $405.00 to $431.00 and gave the stock a "buy" rating in a research report on Thursday, June 12th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $421.17.

Insider Transactions at RBC Bearings

In other RBC Bearings news, CEO Michael J. Hartnett sold 26,725 shares of RBC Bearings stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $381.09, for a total transaction of $10,184,630.25. Following the completion of the transaction, the chief executive officer owned 316,853 shares in the company, valued at approximately $120,749,509.77. This trade represents a 7.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Steven H. Kaplan sold 400 shares of RBC Bearings stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $381.30, for a total value of $152,520.00. Following the transaction, the director owned 2,499 shares of the company's stock, valued at $952,868.70. The trade was a 13.80% 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 worth $29,186,872. Insiders own 2.60% of the company's stock.

RBC Bearings Stock Performance

RBC stock traded up $14.53 during midday trading on Wednesday, reaching $390.04. The stock had a trading volume of 234,634 shares, compared to its average volume of 160,812. The stock has a market cap of $12.25 billion, a PE ratio of 50.85, a P/E/G ratio of 3.82 and a beta of 1.65. 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 firm has a fifty day simple moving average of $374.01 and a two-hundred day simple moving average of $346.71. RBC Bearings Incorporated has a 52-week low of $260.53 and a 52-week high of $393.51.

RBC Bearings (NYSE:RBC - Get Free Report) last issued its earnings results on Friday, May 16th. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.70 by $0.13. The company had revenue of $437.70 million during the quarter, compared to analyst estimates of $440.26 million. RBC Bearings had a return on equity of 10.08% and a net margin of 15.05%. The firm's quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the business posted $2.47 EPS. As a group, equities research analysts anticipate 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.