RBC Bearings Incorporated (NYSE:RBC) Shares Bought by Maren Capital LLC

Maren Capital LLC boosted its stake in RBC Bearings Incorporated (NYSE:RBC) by 3.8% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 379,113 shares of the industrial products company’s stock after buying an additional 13,812 shares during the period. RBC Bearings makes up 9.3% of Maren Capital LLC’s portfolio, making the stock its 2nd largest holding. Maren Capital LLC’s holdings in RBC Bearings were worth $113,499,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Jennison Associates LLC grew its stake in shares of RBC Bearings by 170.2% in the third quarter. Jennison Associates LLC now owns 118,240 shares of the industrial products company’s stock valued at $35,399,000 after acquiring an additional 74,474 shares in the last quarter. Erste Asset Management GmbH acquired a new position in shares of RBC Bearings during the 3rd quarter worth approximately $20,657,000. Dimensional Fund Advisors LP increased its holdings in shares of RBC Bearings by 22.7% during the second quarter. Dimensional Fund Advisors LP now owns 347,030 shares of the industrial products company’s stock worth $93,626,000 after purchasing an additional 64,217 shares during the period. American Century Companies Inc. raised 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 in the last quarter. Finally, Douglas Lane & Associates LLC boosted its stake 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 period.

Analysts Set New Price Targets

RBC has been the subject of a number of recent analyst reports. Truist Financial upped their target price on 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 on the stock in a report on Friday, November 22nd. William Blair reaffirmed an “outperform” rating on shares of RBC Bearings in a report on Tuesday, November 26th. Finally, Bank of America cut shares of RBC Bearings from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $330.00 to $335.00 in a research note on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $324.67.

RBC Bearings Stock Up 1.7 %

Shares of NYSE RBC opened at $341.03 on Wednesday. The company has a 50 day simple moving average of $303.05 and a 200 day simple moving average of $291.47. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.48 and a quick ratio of 1.28. RBC Bearings Incorporated has a 1 year low of $240.36 and a 1 year high of $343.92. The firm has a market cap of $10.71 billion, a PE ratio of 49.79, a price-to-earnings-growth ratio of 4.61 and a beta of 1.55.

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

Insider Buying and Selling at RBC Bearings

In related news, CEO Michael J. Hartnett sold 11,341 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $287.52, for a total value of $3,260,764.32. Following the transaction, the chief executive officer now owns 320,053 shares in the company, valued at $92,021,638.56. The trade was a 3.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last quarter, insiders have sold 34,127 shares of company stock worth $9,839,707. 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.