RBC Bearings Incorporated (NYSE:RBC) Shares Acquired by Port Capital LLC

Port Capital LLC boosted its holdings in RBC Bearings Incorporated (NYSE:RBC) by 0.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 385,101 shares of the industrial products company’s stock after purchasing an additional 3,525 shares during the quarter. RBC Bearings comprises 5.2% of Port Capital LLC’s holdings, making the stock its 3rd largest holding. Port Capital LLC owned 1.23% of RBC Bearings worth $115,292,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of RBC Bearings by 1.2% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,941,467 shares of the industrial products company’s stock worth $523,769,000 after purchasing an additional 22,470 shares during the last quarter. Conestoga Capital Advisors LLC raised its position in RBC Bearings by 1.7% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 740,842 shares of the industrial products company’s stock valued at $221,793,000 after buying an additional 12,375 shares during the last quarter. Geneva Capital Management LLC lifted its stake in RBC Bearings by 1.4% during the 3rd quarter. Geneva Capital Management LLC now owns 590,650 shares of the industrial products company’s stock valued at $176,829,000 after acquiring an additional 8,012 shares in the last quarter. Maren Capital LLC boosted its holdings in RBC Bearings by 3.8% during the 3rd quarter. Maren Capital LLC now owns 379,113 shares of the industrial products company’s stock worth $113,499,000 after acquiring an additional 13,812 shares during the last quarter. Finally, Champlain Investment Partners LLC grew its stake in shares of RBC Bearings by 12.6% in the 3rd quarter. Champlain Investment Partners LLC now owns 365,054 shares of the industrial products company’s stock worth $109,290,000 after acquiring an additional 40,724 shares in the last quarter.

RBC Bearings Stock Up 1.7 %

RBC Bearings stock opened at $341.03 on Wednesday. The stock 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. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.28 and a current ratio of 3.48. The stock has a fifty day moving average of $303.82 and a 200 day moving average of $291.84. RBC Bearings Incorporated has a one year low of $240.36 and a one year high of $343.92.

RBC Bearings (NYSE:RBC) last released its earnings results on Friday, November 1st. The industrial products company reported $2.29 earnings per share 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 company had revenue of $397.90 million for the quarter, compared to analysts’ expectations of $403.89 million. During the same quarter last year, the firm posted $2.07 earnings per share. RBC Bearings’s revenue for the quarter was up 3.2% on a year-over-year basis. As a group, sell-side analysts predict that RBC Bearings Incorporated will post 8.94 EPS for the current year.

Insider Activity at RBC Bearings

In other news, CEO Michael J. Hartnett sold 3,000 shares of RBC Bearings stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $284.23, for a total value of $852,690.00. Following the completion of the transaction, the chief executive officer now owns 294,120 shares in the company, valued at approximately $83,597,727.60. The trade was a 1.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders sold 34,127 shares of company stock valued at $9,839,707. Insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on RBC shares. Bank of America cut RBC Bearings from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $330.00 to $335.00 in a research report on Thursday, November 21st. Truist Financial increased their target price on shares of RBC Bearings from $315.00 to $347.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. KeyCorp raised RBC Bearings from a “sector weight” rating to an “overweight” rating and set a $375.00 price objective on the stock in a report on Friday, November 22nd. Finally, William Blair reissued an “outperform” rating on shares of RBC Bearings in a research note on Tuesday, November 26th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $324.67.

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.