Quantinno Capital Management LP Boosts Stock Position in RBC Bearings Incorporated $RBC

Quantinno Capital Management LP lifted its stake in RBC Bearings Incorporated (NYSE:RBC) by 29.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,915 shares of the industrial products company’s stock after purchasing an additional 1,361 shares during the quarter. Quantinno Capital Management LP’s holdings in RBC Bearings were worth $3,213,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. acquired a new position in RBC Bearings during the first quarter worth $26,000. SBI Securities Co. Ltd. increased its stake in shares of RBC Bearings by 106.5% in the 4th quarter. SBI Securities Co. Ltd. now owns 64 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 33 shares during the last quarter. Larson Financial Group LLC increased its stake in shares of RBC Bearings by 148.5% in the 3rd quarter. Larson Financial Group LLC now owns 82 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 49 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of RBC Bearings by 123.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 96 shares of the industrial products company’s stock worth $37,000 after acquiring an additional 53 shares during the period. Finally, Millstone Evans Group LLC raised its holdings in shares of RBC Bearings by 45.3% during the 1st quarter. Millstone Evans Group LLC now owns 77 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 24 shares during the period.

Insider Activity

In other news, Director Edward Stewart sold 600 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $592.83, for a total value of $355,698.00. Following the sale, the director directly owned 21,337 shares of the company’s stock, valued at approximately $12,649,213.71. The trade was a 2.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP John J. Feeney sold 225 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the vice president owned 2,378 shares in the company, valued at approximately $1,564,581.32. This represents a 8.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 1,425 shares of company stock valued at $885,400. Company insiders own 1.80% of the company’s stock.

RBC Bearings Stock Performance

NYSE RBC opened at $567.91 on Friday. The stock has a fifty day simple moving average of $597.07 and a 200-day simple moving average of $573.11. The company has a current ratio of 2.53, a quick ratio of 0.98 and a debt-to-equity ratio of 0.21. The stock has a market cap of $17.98 billion, a PE ratio of 56.12, a P/E/G ratio of 3.07 and a beta of 1.40. RBC Bearings Incorporated has a twelve month low of $364.50 and a twelve month high of $667.69.

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

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on RBC. Royal Bank Of Canada set a $645.00 price objective on shares of RBC Bearings in a report on Monday, August 3rd. Raymond James Financial raised shares of RBC Bearings from a “market perform” rating to an “outperform” rating and set a $645.00 target price on the stock in a research note on Monday, August 3rd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $686.00 target price on shares of RBC Bearings in a report on Tuesday. Weiss Ratings cut shares of RBC Bearings from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, July 30th. Finally, Zacks Research downgraded shares of RBC Bearings from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 3rd. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $623.00.

About RBC Bearings

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.