Holocene Advisors LP increased its stake in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 69.4% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 12,396 shares of the industrial products company's stock after acquiring an additional 5,078 shares during the period. Holocene Advisors LP's holdings in RBC Bearings were worth $3,711,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of RBC. Marco Investment Management LLC grew its stake in shares of RBC Bearings by 6.6% during the third quarter. Marco Investment Management LLC now owns 810 shares of the industrial products company's stock valued at $242,000 after acquiring an additional 50 shares in the last quarter. Raymond James Trust N.A. grew its stake in RBC Bearings by 2.6% during the 3rd quarter. Raymond James Trust N.A. now owns 2,116 shares of the industrial products company's stock valued at $633,000 after purchasing an additional 53 shares in the last quarter. Legacy Advisors LLC grew its stake in RBC Bearings by 1.4% during the 2nd quarter. Legacy Advisors LLC now owns 4,534 shares of the industrial products company's stock valued at $1,223,000 after purchasing an additional 61 shares in the last quarter. UMB Bank n.a. raised its position in shares of RBC Bearings by 416.7% in the 3rd quarter. UMB Bank n.a. now owns 93 shares of the industrial products company's stock valued at $28,000 after purchasing an additional 75 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of RBC Bearings by 23.2% during the 3rd quarter. GAMMA Investing LLC now owns 440 shares of the industrial products company's stock valued at $132,000 after buying an additional 83 shares during the last quarter.
Shares of NYSE RBC opened at $334.26 on Friday. The company has a quick ratio of 1.28, a current ratio of 3.48 and a debt-to-equity ratio of 0.38. The firm's 50-day moving average price is $304.68 and its two-hundred day moving average price is $292.18. RBC Bearings Incorporated has a 52-week low of $240.36 and a 52-week high of $346.77. The stock has a market capitalization of $10.50 billion, a P/E ratio of 48.80, a P/E/G ratio of 4.69 and a beta of 1.55.
RBC Bearings (NYSE:RBC - Get Free Report) last announced its quarterly earnings results on Friday, November 1st. The industrial products company reported $2.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.01). The company had revenue of $397.90 million during the quarter, compared to the consensus estimate of $403.89 million. RBC Bearings had a return on equity of 9.88% and a net margin of 14.06%. The company's revenue for the quarter was up 3.2% on a year-over-year basis. During the same period last year, the business posted $2.07 EPS. As a group, sell-side analysts forecast that RBC Bearings Incorporated will post 8.94 earnings per share for the current year.
A number of analysts recently issued reports on the stock. KeyCorp upgraded shares of RBC Bearings from a "sector weight" rating to an "overweight" rating and set a $375.00 price target for the company in a research note on Friday, November 22nd. Bank of America lowered shares of RBC Bearings from a "buy" rating to a "neutral" rating and upped their target price for the company from $330.00 to $335.00 in a research note on Thursday, November 21st. Truist Financial lifted their price target on RBC Bearings from $315.00 to $347.00 and gave the stock a "buy" rating in a research note on Wednesday, November 20th. Finally, William Blair restated an "outperform" rating on shares of RBC Bearings in a research note on Tuesday, November 26th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $324.67.
Check Out Our Latest Analysis on 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 transaction of $852,690.00. Following the sale, the chief executive officer now owns 294,120 shares of the company's stock, valued at approximately $83,597,727.60. The trade was a 1.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last quarter, insiders sold 34,127 shares of company stock valued at $9,839,707. 2.60% of the stock is currently owned by company insiders.
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.
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