Segall Bryant & Hamill LLC Boosts Stake in RBC Bearings Incorporated $RBC

Segall Bryant & Hamill LLC boosted its stake in RBC Bearings Incorporated (NYSE:RBC) by 13.1% in the 2nd quarter, Holdings Channel reports. The firm owned 92,376 shares of the industrial products company’s stock after purchasing an additional 10,692 shares during the period. Segall Bryant & Hamill LLC’s holdings in RBC Bearings were worth $35,546,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. purchased a new position in shares of RBC Bearings during the first quarter worth $26,000. Hantz Financial Services Inc. lifted its stake in RBC Bearings by 1,257.1% during the 2nd quarter. Hantz Financial Services Inc. now owns 95 shares of the industrial products company’s stock worth $37,000 after acquiring an additional 88 shares in the last quarter. AlphaQuest LLC purchased a new position in RBC Bearings during the 2nd quarter valued at about $83,000. SVB Wealth LLC purchased a new position in RBC Bearings during the 1st quarter valued at about $111,000. Finally, IFP Advisors Inc grew its position in RBC Bearings by 51.6% in the 2nd quarter. IFP Advisors Inc now owns 291 shares of the industrial products company’s stock valued at $112,000 after acquiring an additional 99 shares in the last quarter.

RBC Bearings Trading Down 0.2%

NYSE RBC opened at $426.91 on Friday. The company has a quick ratio of 1.33, a current ratio of 3.33 and a debt-to-equity ratio of 0.29. RBC Bearings Incorporated has a 52 week low of $290.56 and a 52 week high of $448.74. The stock 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. The firm has a 50 day moving average of $400.63 and a two-hundred day moving average of $388.38.

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. The business had revenue of $156.21 million for the quarter. RBC Bearings had a net margin of 15.20% and a return on equity of 10.14%. As a group, research analysts expect that RBC Bearings Incorporated will post 9.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other news, VP John J. Feeney sold 105 shares of the stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $382.83, for a total value of $40,197.15. Following 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 position. 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 firm’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $443.00, for a total value of $310,100.00. Following the sale, the director directly owned 1,999 shares in the company, valued at $885,557. This trade represents a 25.94% decrease in their position. The disclosure for this sale is available in the SEC filing. 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.