Jane Street Group LLC Has $4.95 Million Stake in RBC Bearings Incorporated (NYSE:RBC)

Jane Street Group LLC boosted its stake in shares of RBC Bearings Incorporated (NYSE:RBC) by 18.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 16,536 shares of the industrial products company’s stock after buying an additional 2,584 shares during the quarter. Jane Street Group LLC’s holdings in RBC Bearings were worth $4,951,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. UMB Bank n.a. lifted its stake in shares of RBC Bearings by 416.7% in the third quarter. UMB Bank n.a. now owns 93 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 75 shares during the period. DT Investment Partners LLC bought a new position in RBC Bearings during the 2nd quarter worth approximately $35,000. Canada Pension Plan Investment Board acquired a new position in shares of RBC Bearings in the 2nd quarter worth approximately $54,000. Strategic Financial Concepts LLC bought a new stake in shares of RBC Bearings in the 2nd quarter valued at $68,000. Finally, Benjamin F. Edwards & Company Inc. increased its position in shares of RBC Bearings by 80.1% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 290 shares of the industrial products company’s stock worth $78,000 after buying an additional 129 shares during the period.

RBC Bearings Stock Down 0.4 %

RBC stock opened at $326.37 on Tuesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.28 and a current ratio of 3.48. RBC Bearings Incorporated has a fifty-two week low of $240.36 and a fifty-two week high of $346.77. The stock’s 50 day simple moving average is $310.35 and its 200 day simple moving average is $294.41. The company has a market cap of $10.25 billion, a P/E ratio of 47.65, a price-to-earnings-growth ratio of 4.50 and a beta of 1.55.

RBC Bearings (NYSE:RBC) last issued its earnings results on Friday, November 1st. The industrial products company reported $2.29 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.01). RBC Bearings had a return on equity of 9.88% and a net margin of 14.06%. The firm had revenue of $397.90 million for the quarter, compared to analyst estimates of $403.89 million. During the same period in the previous year, the company earned $2.07 earnings per share. RBC Bearings’s revenue for the quarter was up 3.2% compared to the same quarter last year. On average, research analysts expect that RBC Bearings Incorporated will post 8.94 earnings per share for the current fiscal year.

Insider Buying and Selling at RBC Bearings

In other news, CEO Michael J. Hartnett sold 503 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $289.00, for a total value of $145,367.00. Following the transaction, the chief executive officer now owns 322,588 shares in the company, valued at $93,227,932. This trade represents a 0.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

RBC has been the topic of several recent analyst reports. KeyCorp upgraded shares of RBC Bearings from a “sector weight” rating to an “overweight” rating and set a $375.00 target price on the stock in a report on Friday, November 22nd. Truist Financial upped their target price on RBC Bearings from $315.00 to $347.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. William Blair reiterated an “outperform” rating on shares of RBC Bearings in a report on Tuesday, November 26th. Finally, Bank of America cut RBC Bearings from a “buy” rating to a “neutral” rating and increased their price target for the stock from $330.00 to $335.00 in a report on Thursday, November 21st. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, RBC Bearings currently has an average rating of “Moderate Buy” and a consensus target price of $324.67.

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.