RBC Bearings Incorporated (NYSE:RBC) Shares Sold by Two Sigma Advisers LP

Two Sigma Advisers LP trimmed its holdings in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 89.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 700 shares of the industrial products company's stock after selling 6,000 shares during the quarter. Two Sigma Advisers LP's holdings in RBC Bearings were worth $209,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of RBC. Vanguard Group Inc. raised its position in shares of 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 buying an additional 229,466 shares during the period. Durable Capital Partners LP raised its position in shares of 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 buying an additional 48,287 shares during the period. T. Rowe Price Investment Management Inc. raised its position in shares of 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 buying an additional 2,884 shares during the period. Ameriprise Financial Inc. raised its position in shares of RBC Bearings by 32.6% during the 4th quarter. Ameriprise Financial Inc. now owns 534,881 shares of the industrial products company's stock valued at $159,998,000 after buying an additional 131,614 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of RBC Bearings by 5.2% during the 4th quarter. Geode Capital Management LLC now owns 507,771 shares of the industrial products company's stock valued at $151,944,000 after buying an additional 25,268 shares during the period.

RBC Bearings Trading Down 0.4%

RBC Bearings stock traded down $1.50 during trading on Wednesday, hitting $375.35. The company had a trading volume of 158,091 shares, compared to its average volume of 159,461. RBC Bearings Incorporated has a 1-year low of $260.53 and a 1-year high of $386.41. The company has a current ratio of 3.43, a quick ratio of 1.18 and a debt-to-equity ratio of 0.34. The company's 50 day simple moving average is $347.76 and its 200-day simple moving average is $337.35. The stock has a market cap of $11.79 billion, a price-to-earnings ratio of 51.56, a price-to-earnings-growth ratio of 4.42 and a beta of 1.66.

RBC Bearings (NYSE:RBC - Get Free Report) last posted its earnings results on Friday, May 16th. The industrial products company reported $2.83 earnings per share for the quarter, beating the consensus estimate of $2.70 by $0.13. RBC Bearings had a net margin of 14.59% and a return on equity of 10.06%. The firm had revenue of $437.70 million during the quarter, compared to the consensus estimate of $440.26 million. During the same quarter last year, the firm earned $2.47 EPS. The firm's revenue for the quarter was up 5.8% on a year-over-year basis. As a group, analysts expect that RBC Bearings Incorporated will post 9.16 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

RBC has been the topic of several analyst reports. Truist Financial reaffirmed a "buy" rating and set a $405.00 price target (up previously from $375.00) on shares of RBC Bearings in a research report on Monday, May 19th. 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 research report on Tuesday, May 20th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, RBC Bearings currently has an average rating of "Moderate Buy" and an average price target of $387.50.

Insiders Place Their Bets

In other RBC Bearings news, CEO Michael J. Hartnett sold 5,000 shares of the business's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total value of $1,875,000.00. Following the completion of the transaction, the chief executive officer now owns 311,853 shares in the company, valued at $116,944,875. The trade was a 1.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Daniel A. Bergeron sold 31,282 shares of the business's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $380.28, for a total transaction of $11,895,918.96. Following the transaction, the chief operating officer now owns 111,134 shares of the company's stock, valued at approximately $42,262,037.52. The trade was a 21.97% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 67,378 shares of company stock worth $25,625,987 over the last 90 days. Corporate insiders own 2.60% of the company's stock.

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.