L & S Advisors Inc Buys Shares of 611 RBC Bearings Incorporated $RBC

L & S Advisors Inc bought a new position in RBC Bearings Incorporated (NYSE:RBC) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 611 shares of the industrial products company’s stock, valued at approximately $235,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Geneva Capital Management LLC boosted its stake in RBC Bearings by 7.4% in the second quarter. Geneva Capital Management LLC now owns 633,230 shares of the industrial products company’s stock valued at $243,667,000 after acquiring an additional 43,812 shares in the last quarter. Geode Capital Management LLC raised its stake in RBC Bearings by 4.1% in the second quarter. Geode Capital Management LLC now owns 557,858 shares of the industrial products company’s stock valued at $214,699,000 after buying an additional 21,972 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in RBC Bearings by 2.0% in the first quarter. Ameriprise Financial Inc. now owns 545,412 shares of the industrial products company’s stock worth $175,515,000 after acquiring an additional 10,531 shares in the last quarter. Maren Capital LLC increased its holdings in shares of RBC Bearings by 4.2% during the first quarter. Maren Capital LLC now owns 420,946 shares of the industrial products company’s stock valued at $135,448,000 after acquiring an additional 17,143 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of RBC Bearings by 11.2% in the 1st quarter. Invesco Ltd. now owns 260,924 shares of the industrial products company’s stock valued at $83,958,000 after purchasing an additional 26,338 shares during the last quarter.

RBC Bearings Stock Performance

NYSE RBC opened at $431.86 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.33 and a quick ratio of 1.33. The stock’s 50 day simple moving average is $395.78 and its 200-day simple moving average is $385.21. The company has a market cap of $13.65 billion, a PE ratio of 54.39, a price-to-earnings-growth ratio of 3.16 and a beta of 1.73. RBC Bearings Incorporated has a 1-year low of $290.56 and a 1-year high of $448.74.

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

Analyst Ratings Changes

RBC has been the topic of several research analyst reports. Bank of America upgraded RBC Bearings from a “neutral” rating to a “buy” rating and boosted their price target for the company from $390.00 to $500.00 in a research note on Thursday, November 6th. Truist Financial reissued a “buy” rating and issued a $471.00 price objective (up previously from $455.00) on shares of RBC Bearings in a report on Monday, November 3rd. Zacks Research lowered shares of RBC Bearings from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Deutsche Bank Aktiengesellschaft set a $503.00 price target on shares of RBC Bearings and gave the stock a “buy” rating in a report on Wednesday, October 8th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of RBC Bearings in a research report on Tuesday. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, RBC Bearings presently has an average rating of “Moderate Buy” and an average target price of $459.17.

Insiders Place Their Bets

In other RBC Bearings news, VP John J. Feeney sold 105 shares of the company’s stock in a transaction on Friday, September 26th. The stock was sold at an average price of $382.83, for a total value of $40,197.15. Following the completion of the sale, the vice president directly owned 2,666 shares in the company, valued at $1,020,624.78. This represents a 3.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $310,100.00. Following the transaction, the director owned 1,999 shares in the company, valued at approximately $885,557. This represents a 25.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 1.90% 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.