Maren Capital LLC Cuts Holdings in RBC Bearings Incorporated $RBC

Maren Capital LLC lessened its stake in shares of RBC Bearings Incorporated (NYSE:RBC) by 3.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 428,132 shares of the industrial products company’s stock after selling 13,772 shares during the period. RBC Bearings makes up approximately 12.8% of Maren Capital LLC’s holdings, making the stock its largest holding. Maren Capital LLC’s holdings in RBC Bearings were worth $275,743,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Fifth Third Bancorp grew its holdings in RBC Bearings by 12,957.3% during the 1st quarter. Fifth Third Bancorp now owns 74,949 shares of the industrial products company’s stock valued at $40,707,000 after purchasing an additional 74,375 shares during the last quarter. Bessemer Group Inc. lifted its stake in RBC Bearings by 9.6% in the fourth quarter. Bessemer Group Inc. now owns 83,865 shares of the industrial products company’s stock worth $37,607,000 after purchasing an additional 7,315 shares during the last quarter. Walleye Capital LLC bought a new stake in RBC Bearings in the second quarter worth about $5,165,000. Rockefeller Capital Management L.P. boosted its position in shares of RBC Bearings by 7.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 48,359 shares of the industrial products company’s stock valued at $21,686,000 after buying an additional 3,226 shares during the period. Finally, Align Financial LLC purchased a new position in shares of RBC Bearings during the fourth quarter valued at approximately $17,495,000.

RBC Bearings Stock Performance

Shares of NYSE:RBC opened at $487.71 on Friday. The firm has a market cap of $15.44 billion, a PE ratio of 48.19, a price-to-earnings-growth ratio of 2.62 and a beta of 1.39. The firm’s 50 day simple moving average is $560.06 and its 200-day simple moving average is $573.01. RBC Bearings Incorporated has a one year low of $364.50 and a one year high of $667.69. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.98 and a current ratio of 2.53.

RBC Bearings (NYSE:RBC) last announced its quarterly earnings results on Friday, July 31st. The industrial products company reported $3.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.42 by $0.46. The firm had revenue of $519.50 million during the quarter, compared to analyst estimates of $508.92 million. RBC Bearings had a return on equity of 12.06% and a net margin of 16.40%.RBC Bearings’s quarterly revenue was up 19.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.84 earnings per share. As a group, equities analysts predict that RBC Bearings Incorporated will post 14.12 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Morgan Stanley increased their price target on RBC Bearings from $600.00 to $640.00 and gave the stock an “overweight” rating in a report on Tuesday, May 19th. Raymond James Financial upgraded RBC Bearings from a “market perform” rating to an “outperform” rating and set a $645.00 price objective for the company in a report on Monday, August 3rd. Truist Financial upped their price objective on RBC Bearings from $615.00 to $646.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. Weiss Ratings lowered RBC Bearings from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, August 27th. Finally, Zacks Research downgraded RBC Bearings from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 3rd. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $623.00.

Insiders Place Their Bets

In other news, VP John J. Feeney sold 225 shares of the firm’s stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $657.94, for a total transaction of $148,036.50. Following the transaction, the vice president owned 2,378 shares in the company, valued at approximately $1,564,581.32. This trade represents a 8.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Dolores J. Ennico sold 600 shares of RBC Bearings stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $636.11, for a total value of $381,666.00. Following the completion of the sale, the director owned 7,254 shares of the company’s stock, valued at $4,614,341.94. The trade was a 7.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.80% of the company’s stock.

RBC Bearings Company Profile

RBC Bearings Incorporated is a global designer, manufacturer and marketer of highly engineered precision bearings and components for extreme applications. The company’s product portfolio includes cylindrical roller bearings, spherical plain bearings, ball bearings, track rollers, and engineered components such as metal-to-metal and polymer bearings. These products are tailored to meet the demanding requirements of aerospace, defense and industrial customers where reliability under severe conditions is critical.

The company’s bearings and components find application in aircraft engines, auxiliary power units, landing gear systems, space and missile programs, industrial gas turbines, oil and gas drilling equipment, and heavy machinery.