iSAM Funds UK Ltd Takes $345,000 Position in RBC Bearings Incorporated (NYSE:RBC)

iSAM Funds UK Ltd bought a new position in shares of RBC Bearings Incorporated (NYSE:RBC) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,153 shares of the industrial products company’s stock, valued at approximately $345,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jennison Associates LLC increased its stake in shares of RBC Bearings by 170.2% during the 3rd quarter. Jennison Associates LLC now owns 118,240 shares of the industrial products company’s stock worth $35,399,000 after purchasing an additional 74,474 shares during the last quarter. Erste Asset Management GmbH acquired a new position in RBC Bearings during the third quarter worth approximately $20,657,000. Dimensional Fund Advisors LP raised its stake in RBC Bearings by 22.7% in the second quarter. Dimensional Fund Advisors LP now owns 347,030 shares of the industrial products company’s stock valued at $93,626,000 after buying an additional 64,217 shares during the period. American Century Companies Inc. lifted its position in shares of RBC Bearings by 30.4% in the second quarter. American Century Companies Inc. now owns 206,630 shares of the industrial products company’s stock valued at $55,745,000 after buying an additional 48,209 shares during the last quarter. Finally, Douglas Lane & Associates LLC lifted its position in shares of RBC Bearings by 54.0% in the third quarter. Douglas Lane & Associates LLC now owns 126,073 shares of the industrial products company’s stock valued at $37,744,000 after buying an additional 44,211 shares during the last quarter.

RBC Bearings Trading Up 0.0 %

RBC stock opened at $334.39 on Friday. RBC Bearings Incorporated has a 52 week low of $240.36 and a 52 week high of $346.77. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.28 and a current ratio of 3.48. The company’s 50-day simple moving average is $306.02 and its 200 day simple moving average is $292.71. The company has a market capitalization of $10.50 billion, a PE ratio of 48.82, a price-to-earnings-growth ratio of 4.67 and a beta of 1.55.

RBC Bearings (NYSE:RBC) last announced its earnings results on Friday, November 1st. The industrial products company reported $2.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.01). RBC Bearings had a return on equity of 9.88% and a net margin of 14.06%. The business had revenue of $397.90 million for the quarter, compared to analyst estimates of $403.89 million. During the same quarter in the previous year, the company earned $2.07 EPS. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. As a group, sell-side analysts anticipate that RBC Bearings Incorporated will post 8.94 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on RBC shares. William Blair restated an “outperform” rating on shares of RBC Bearings in a research note on Tuesday, November 26th. Truist Financial increased their price objective on shares of RBC Bearings from $315.00 to $347.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. KeyCorp raised shares of RBC Bearings from a “sector weight” rating to an “overweight” rating and set a $375.00 target price for the company in a report on Friday, November 22nd. Finally, Bank of America cut shares of RBC Bearings from a “buy” rating to a “neutral” rating and increased their price target for the company from $330.00 to $335.00 in a report on Thursday, November 21st. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $324.67.

Insider Activity

In other news, CEO Michael J. Hartnett sold 503 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $289.00, for a total value of $145,367.00. Following the completion of the transaction, the chief executive officer now directly owns 322,588 shares in the company, valued at approximately $93,227,932. The trade was a 0.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders sold 34,127 shares of company stock worth $9,839,707. 2.60% of the stock is currently owned by company insiders.

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.