Quadrature Capital Ltd Takes $1.32 Million Position in RBC Bearings Incorporated $RBC

Quadrature Capital Ltd bought a new stake in RBC Bearings Incorporated (NYSE:RBC) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 3,424 shares of the industrial products company’s stock, valued at approximately $1,318,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in RBC Bearings by 0.4% in the second quarter. Vanguard Group Inc. now owns 2,946,581 shares of the industrial products company’s stock worth $1,133,844,000 after acquiring an additional 13,061 shares in the last quarter. Geneva Capital Management LLC raised its position in shares of RBC Bearings by 7.4% during the second quarter. Geneva Capital Management LLC now owns 633,230 shares of the industrial products company’s stock worth $243,667,000 after purchasing an additional 43,812 shares during the period. Geode Capital Management LLC lifted its holdings in shares of RBC Bearings by 4.1% in the 2nd quarter. Geode Capital Management LLC now owns 557,858 shares of the industrial products company’s stock worth $214,699,000 after purchasing an additional 21,972 shares in the last quarter. Ameriprise Financial Inc. grew its position in RBC Bearings by 2.0% in the 1st quarter. Ameriprise Financial Inc. now owns 545,412 shares of the industrial products company’s stock valued at $175,515,000 after purchasing an additional 10,531 shares during the period. Finally, Maren Capital LLC increased its stake in RBC Bearings by 4.2% during the 1st quarter. Maren Capital LLC now owns 420,946 shares of the industrial products company’s stock valued at $135,448,000 after purchasing an additional 17,143 shares in the last quarter.

Insider Buying and Selling at RBC Bearings

In other news, Director Steven H. Kaplan sold 700 shares of RBC Bearings stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $443.00, for a total transaction of $310,100.00. Following the sale, the director directly owned 1,999 shares in the company, valued at $885,557. The trade was a 25.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP John J. Feeney sold 105 shares of the business’s stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $382.83, for a total transaction of $40,197.15. Following the completion of the transaction, the vice president directly owned 2,666 shares in the company, valued at $1,020,624.78. This trade represents a 3.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.90% of the stock is currently owned by insiders.

RBC Bearings Trading Up 0.4%

Shares of RBC stock opened at $444.97 on Monday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.33 and a current ratio of 3.33. The company has a market capitalization of $14.07 billion, a price-to-earnings ratio of 56.04, a PEG ratio of 3.16 and a beta of 1.73. RBC Bearings Incorporated has a 52-week low of $290.56 and a 52-week high of $449.60. The company has a 50-day simple moving average of $406.70 and a two-hundred day simple moving average of $391.93.

RBC Bearings (NYSE:RBC) last announced its earnings results on Monday, August 15th. The industrial products company reported $1.22 earnings per share for the quarter. The firm had revenue of $156.21 million for the quarter. RBC Bearings had a return on equity of 10.14% and a net margin of 15.20%. Research analysts anticipate that RBC Bearings Incorporated will post 9.16 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on RBC shares. Bank of America raised shares of RBC Bearings from a “neutral” rating to a “buy” rating and raised their price objective for the company from $390.00 to $500.00 in a research note on Thursday, November 6th. Truist Financial reaffirmed a “buy” rating and issued a $471.00 price target (up previously from $455.00) on shares of RBC Bearings in a research report on Monday, November 3rd. Zacks Research downgraded RBC Bearings from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Deutsche Bank Aktiengesellschaft set a $503.00 price objective on RBC Bearings and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of RBC Bearings in a research report on Monday, November 24th. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $459.17.

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.