400 Shares in RBC Bearings Incorporated (NYSE:RBC) Purchased by nVerses Capital LLC

nVerses Capital LLC acquired a new position in shares of RBC Bearings Incorporated (NYSE:RBC) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 400 shares of the industrial products company’s stock, valued at approximately $120,000.

Several other hedge funds also recently modified their holdings of RBC. UMB Bank n.a. grew its stake in shares of RBC Bearings by 416.7% during the third 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 during the last quarter. DT Investment Partners LLC bought a new position in RBC Bearings in the second quarter valued at approximately $35,000. Opal Wealth Advisors LLC acquired a new stake in RBC Bearings in the second quarter worth $41,000. Benjamin F. Edwards & Company Inc. raised its holdings in RBC Bearings by 570.8% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 161 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 137 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new stake in RBC Bearings in the second quarter worth $54,000.

Wall Street Analysts Forecast Growth

RBC has been the topic of a number of research analyst reports. Raymond James initiated coverage on shares of RBC Bearings in a report on Friday, June 28th. They set a “market perform” rating on the stock. Truist Financial decreased their price objective on shares of RBC Bearings from $328.00 to $315.00 and set a “buy” rating for the company in a research report 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 company’s stock. According to MarketBeat, RBC Bearings presently has an average rating of “Moderate Buy” and an average price target of $287.67.

RBC Bearings Price Performance

RBC Bearings stock opened at $288.10 on Monday. RBC Bearings Incorporated has a 12 month low of $214.14 and a 12 month high of $309.01. 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 business’s 50 day simple moving average is $289.95 and its 200 day simple moving average is $279.55. The company has a market cap of $8.33 billion, a price-to-earnings ratio of 45.02, a PEG ratio of 3.21 and a beta of 1.51.

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

Insider Activity at RBC Bearings

In other RBC Bearings news, VP Richard J. Edwards sold 4,200 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $292.67, for a total transaction of $1,229,214.00. Following the completion of the sale, the vice president now directly owns 12,539 shares in the company, valued at $3,669,789.13. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other RBC Bearings news, CEO Michael J. Hartnett sold 19,283 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $289.42, for a total value of $5,580,885.86. Following the completion of the sale, the chief executive officer now directly owns 317,814 shares in the company, valued at $91,981,727.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 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 transaction of $1,229,214.00. Following the transaction, the vice president now directly owns 12,539 shares of the company’s stock, valued at $3,669,789.13. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 41,327 shares of company stock valued at $11,900,641 over the last 90 days. 2.90% of the stock is owned by insiders.

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.