Creative Planning Has $415,000 Position in RBC Bearings Incorporated (NYSE:RBC)

Creative Planning reduced its stake in shares of RBC Bearings Incorporated (NYSE:RBC) by 2.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,539 shares of the industrial products company’s stock after selling 38 shares during the quarter. Creative Planning’s holdings in RBC Bearings were worth $415,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its stake in RBC Bearings by 22.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 347,030 shares of the industrial products company’s stock valued at $93,626,000 after acquiring an additional 64,217 shares in the last quarter. Maren Capital LLC lifted its stake in RBC Bearings by 17.2% in the 1st quarter. Maren Capital LLC now owns 332,856 shares of the industrial products company’s stock valued at $89,988,000 after acquiring an additional 48,844 shares in the last quarter. American Century Companies Inc. lifted its stake in RBC Bearings by 30.4% in the 2nd quarter. American Century Companies Inc. now owns 206,630 shares of the industrial products company’s stock valued at $55,745,000 after acquiring an additional 48,209 shares in the last quarter. Douglas Lane & Associates LLC lifted its stake in RBC Bearings by 123.9% in the 2nd quarter. Douglas Lane & Associates LLC now owns 81,862 shares of the industrial products company’s stock valued at $22,085,000 after acquiring an additional 45,294 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new stake in RBC Bearings in the 2nd quarter valued at approximately $11,708,000.

Insider Transactions at RBC Bearings

In related news, CEO Michael J. Hartnett sold 3,000 shares of the firm’s 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 completion of the sale, the chief executive officer now owns 294,120 shares of the company’s stock, valued at $83,597,727.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other RBC Bearings news, CEO Michael J. Hartnett sold 3,000 shares of the firm’s 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 sale, the chief executive officer now owns 294,120 shares of the company’s stock, valued at approximately $83,597,727.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Richard J. Edwards sold 4,200 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $292.67, for a total value of $1,229,214.00. Following the completion of the sale, the vice president now directly owns 12,539 shares of the company’s stock, valued at $3,669,789.13. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,327 shares of company stock worth $11,900,641 over the last ninety days. 2.60% of the stock is owned by insiders.

RBC Bearings Price Performance

RBC Bearings stock opened at $290.61 on Thursday. The company has a current ratio of 3.01, a quick ratio of 1.09 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $8.49 billion, a PE ratio of 42.86, a P/E/G ratio of 3.19 and a beta of 1.51. RBC Bearings Incorporated has a 12 month low of $214.14 and a 12 month high of $309.01. The stock has a 50-day moving average price of $289.49 and a two-hundred day moving average price of $279.23.

RBC Bearings (NYSE:RBC) last posted its earnings results on Friday, August 2nd. The industrial products company reported $2.54 EPS for the quarter, beating the consensus estimate of $2.21 by $0.33. The firm had revenue of $406.30 million during the quarter, compared to the consensus estimate of $416.65 million. RBC Bearings had a return on equity of 10.04% and a net margin of 14.01%. The business’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period last year, the company earned $1.98 earnings per share. Analysts expect that RBC Bearings Incorporated will post 8.95 EPS for the current year.

Analyst Ratings Changes

RBC has been the topic of several research reports. Raymond James initiated coverage on RBC Bearings in a research note on Friday, June 28th. They issued a “market perform” rating on the stock. Truist Financial dropped their price objective on RBC Bearings from $328.00 to $315.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, RBC Bearings currently has an average rating of “Moderate Buy” and an average target price of $287.67.

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.