Quadrant Capital Group LLC Raises Stake in RBC Bearings Incorporated $RBC

Quadrant Capital Group LLC lifted its position in shares of RBC Bearings Incorporated (NYSE:RBC) by 147.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,202 shares of the industrial products company’s stock after purchasing an additional 1,313 shares during the period. Quadrant Capital Group LLC’s holdings in RBC Bearings were worth $847,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vista Finance LLC lifted its holdings in RBC Bearings by 4.1% during the 2nd quarter. Vista Finance LLC now owns 915 shares of the industrial products company’s stock worth $352,000 after buying an additional 36 shares during the last quarter. Associated Banc Corp raised its position in shares of RBC Bearings by 6.3% during the 2nd quarter. Associated Banc Corp now owns 694 shares of the industrial products company’s stock worth $267,000 after acquiring an additional 41 shares in the last quarter. Sheets Smith Wealth Management boosted its holdings in RBC Bearings by 0.9% in the second quarter. Sheets Smith Wealth Management now owns 5,064 shares of the industrial products company’s stock valued at $1,949,000 after purchasing an additional 44 shares in the last quarter. Quadcap Wealth Management LLC increased its stake in RBC Bearings by 3.6% in the second quarter. Quadcap Wealth Management LLC now owns 1,352 shares of the industrial products company’s stock valued at $520,000 after purchasing an additional 47 shares during the last quarter. Finally, Harbor Investment Advisory LLC increased its stake in RBC Bearings by 19.8% in the second quarter. Harbor Investment Advisory LLC now owns 327 shares of the industrial products company’s stock valued at $126,000 after purchasing an additional 54 shares during the last quarter.

Analyst Ratings Changes

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

Insider Activity at RBC Bearings

In other RBC Bearings news, VP John J. Feeney sold 105 shares of the 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 transaction, the vice president owned 2,666 shares in the company, valued at approximately $1,020,624.78. This represents a 3.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Steven H. Kaplan sold 700 shares of the business’s 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 owned 1,999 shares in the company, valued at $885,557. The trade was a 25.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.90% of the stock is owned by company insiders.

RBC Bearings Stock Performance

NYSE:RBC opened at $441.90 on Tuesday. The firm has a market cap of $13.97 billion, a price-to-earnings ratio of 55.65, a price-to-earnings-growth ratio of 3.16 and a beta of 1.73. The firm’s fifty day moving average price is $407.88 and its 200 day moving average price is $392.46. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.33 and a quick ratio of 1.33. RBC Bearings Incorporated has a 1-year low of $290.56 and a 1-year high of $449.60.

RBC Bearings (NYSE:RBC) last issued its quarterly 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 business had revenue of $156.21 million for the quarter. On average, sell-side analysts expect that RBC Bearings Incorporated will post 9.16 EPS for the current year.

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.