Vanguard Personalized Indexing Management LLC Has $621,000 Stock Position in RBC Bearings Incorporated (NYSE:RBC)

Vanguard Personalized Indexing Management LLC grew its stake in RBC Bearings Incorporated (NYSE:RBC) by 19.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,301 shares of the industrial products company’s stock after purchasing an additional 371 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in RBC Bearings were worth $621,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of RBC. Bradley Foster & Sargent Inc. CT grew its position in RBC Bearings by 16.1% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 137,660 shares of the industrial products company’s stock valued at $37,138,000 after acquiring an additional 19,140 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of RBC Bearings in the 2nd quarter valued at $11,708,000. Dimensional Fund Advisors LP grew its holdings in shares of 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 worth $93,626,000 after purchasing an additional 64,217 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of RBC Bearings by 38.0% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 20,076 shares of the industrial products company’s stock worth $5,416,000 after purchasing an additional 5,525 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of RBC Bearings by 30.4% during the second quarter. American Century Companies Inc. now owns 206,630 shares of the industrial products company’s stock worth $55,745,000 after buying an additional 48,209 shares in the last quarter.

RBC Bearings Stock Performance

RBC Bearings stock opened at $296.88 on Thursday. RBC Bearings Incorporated has a 1 year low of $214.14 and a 1 year high of $309.01. The company’s 50-day moving average is $288.19 and its two-hundred day moving average is $276.69. 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 cap of $8.68 billion, a PE ratio of 46.39, a PEG ratio of 3.59 and a beta of 1.51.

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

Insiders Place Their Bets

In other news, Director Edward Stewart sold 3,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $277.24, for a total value of $831,720.00. Following the completion of the sale, the director now directly owns 20,461 shares of the company’s stock, valued at approximately $5,672,607.64. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Michael J. Hartnett sold 503 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $289.00, for a total transaction of $145,367.00. Following the sale, the chief executive officer now owns 322,588 shares of the company’s stock, valued at approximately $93,227,932. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Edward Stewart sold 3,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $277.24, for a total value of $831,720.00. Following the completion of the transaction, the director now directly owns 20,461 shares of the company’s stock, valued at $5,672,607.64. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,327 shares of company stock worth $11,900,641. Insiders own 2.90% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on RBC shares. William Blair initiated coverage on RBC Bearings in a research report on Wednesday, May 29th. They set an “outperform” rating on the stock. Raymond James assumed coverage on shares of RBC Bearings in a research report on Friday, June 28th. They set a “market perform” rating on the stock. Finally, Truist Financial decreased their price objective on shares of RBC Bearings from $328.00 to $315.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.