Vanguard Group Inc. Purchases 13,061 Shares of RBC Bearings Incorporated $RBC

Vanguard Group Inc. grew its position in shares of RBC Bearings Incorporated (NYSE:RBC) by 0.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,946,581 shares of the industrial products company’s stock after buying an additional 13,061 shares during the quarter. Vanguard Group Inc. owned approximately 9.34% of RBC Bearings worth $1,133,844,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of RBC. Geneva Capital Management LLC boosted its holdings in shares of RBC Bearings by 7.4% in the 2nd quarter. Geneva Capital Management LLC now owns 633,230 shares of the industrial products company’s stock worth $243,667,000 after acquiring an additional 43,812 shares in the last quarter. Geode Capital Management LLC increased its holdings in RBC Bearings by 4.1% during the 2nd quarter. Geode Capital Management LLC now owns 557,858 shares of the industrial products company’s stock valued at $214,699,000 after purchasing an additional 21,972 shares in the last quarter. Ameriprise Financial Inc. raised 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 last quarter. Maren Capital LLC boosted its stake in RBC Bearings by 4.2% in the first quarter. Maren Capital LLC now owns 420,946 shares of the industrial products company’s stock worth $135,448,000 after purchasing an additional 17,143 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in RBC Bearings by 11.2% in the first quarter. Invesco Ltd. now owns 260,924 shares of the industrial products company’s stock worth $83,958,000 after purchasing an additional 26,338 shares in the last quarter.

RBC Bearings Stock Down 0.2%

Shares of NYSE RBC opened at $426.91 on Friday. RBC Bearings Incorporated has a 1 year low of $290.56 and a 1 year high of $448.74. The firm’s 50-day moving average is $400.63 and its 200-day moving average is $388.71. The company has a current ratio of 3.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $13.50 billion, a PE ratio of 53.77, a price-to-earnings-growth ratio of 3.16 and a beta of 1.73.

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

Analyst Ratings Changes

RBC has been the subject of a number of research analyst reports. Truist Financial reaffirmed a “buy” rating and issued a $471.00 price target (up from $455.00) on shares of RBC Bearings in a report on Monday, November 3rd. Zacks Research cut shares of RBC Bearings from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Bank of America upgraded shares of RBC Bearings from a “neutral” rating to a “buy” rating and upped their target price for the stock from $390.00 to $500.00 in a research report on Thursday, November 6th. Weiss Ratings reissued a “buy (b-)” rating on shares of RBC Bearings in a research note on Monday, November 17th. Finally, Deutsche Bank Aktiengesellschaft set a $503.00 price target on shares of RBC Bearings and gave the company a “buy” rating in a report on Wednesday, October 8th. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $459.17.

Insider Buying and Selling at RBC Bearings

In related 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 completion of the sale, the director directly owned 1,999 shares of the company’s stock, valued at $885,557. The trade was a 25.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP John J. Feeney sold 105 shares of the company’s stock in a transaction dated Friday, September 26th. The shares were 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 owned 2,666 shares of the company’s stock, valued at $1,020,624.78. This represents a 3.79% decrease in their position. The SEC filing for this sale provides additional information. 1.90% of the stock is owned by company insiders.

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.