RBC Bearings Incorporated (NYSE:RBC) is GW&K Investment Management LLC's Largest Position

GW&K Investment Management LLC lessened its position in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 4.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 570,938 shares of the industrial products company's stock after selling 25,761 shares during the quarter. RBC Bearings makes up about 1.5% of GW&K Investment Management LLC's portfolio, making the stock its biggest position. GW&K Investment Management LLC owned about 1.96% of RBC Bearings worth $162,654,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in RBC. Principal Securities Inc. acquired a new position in shares of RBC Bearings during the 4th quarter worth approximately $30,000. Operose Advisors LLC acquired a new position in shares of RBC Bearings during the 3rd quarter worth approximately $45,000. GAMMA Investing LLC acquired a new position in shares of RBC Bearings during the 4th quarter worth approximately $66,000. RiverPark Advisors LLC acquired a new position in shares of RBC Bearings during the 3rd quarter worth approximately $69,000. Finally, Fifth Third Bancorp increased its holdings in shares of RBC Bearings by 14.3% during the 3rd quarter. Fifth Third Bancorp now owns 423 shares of the industrial products company's stock worth $99,000 after acquiring an additional 53 shares during the last quarter.

Analyst Ratings Changes

Separately, Citigroup boosted their target price on RBC Bearings from $250.00 to $285.00 and gave the stock a "neutral" rating in a report on Monday, February 12th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, RBC Bearings currently has an average rating of "Moderate Buy" and a consensus target price of $275.86.

RBC Bearings Stock Performance

RBC traded up $7.96 during trading on Monday, hitting $297.24. The stock had a trading volume of 277,082 shares, compared to its average volume of 134,431. The company has a 50 day moving average price of $261.00 and a 200-day moving average price of $263.10. The firm has a market cap of $8.38 billion, a price-to-earnings ratio of 46.44, a P/E/G ratio of 5.51 and a beta of 1.46. RBC Bearings Incorporated has a one year low of $195.18 and a one year high of $298.49. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.28 and a quick ratio of 1.12.

RBC Bearings (NYSE:RBC - Get Free Report) last released its quarterly earnings results on Friday, May 17th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.25 by $0.22. The business had revenue of $413.70 million during the quarter, compared to the consensus estimate of $414.21 million. RBC Bearings had a return on equity of 9.92% and a net margin of 13.45%. The firm's quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.06 EPS. As a group, research analysts predict that RBC Bearings Incorporated will post 8.95 EPS for the current year.

Insider Activity at RBC Bearings

In related news, COO Daniel A. Bergeron sold 15,000 shares of the business's stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $267.22, for a total value of $4,008,300.00. Following the completion of the sale, the chief operating officer now directly owns 121,935 shares in the company, valued at approximately $32,583,470.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.90% of the stock is currently owned by corporate insiders.

RBC Bearings Profile

RBC Bearings Incorporated manufactures and markets engineered precision bearings and components 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.