UMB Bank n.a. Grows Holdings in RBC Bearings Incorporated (NYSE:RBC)

UMB Bank n.a. lifted its holdings in shares of RBC Bearings Incorporated (NYSE:RBC) by 416.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 93 shares of the industrial products company’s stock after acquiring an additional 75 shares during the quarter. UMB Bank n.a.’s holdings in RBC Bearings were worth $28,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. DT Investment Partners LLC purchased a new stake in shares of RBC Bearings during the 2nd quarter valued at $35,000. Opal Wealth Advisors LLC purchased a new stake in RBC Bearings during the second quarter worth about $41,000. Benjamin F. Edwards & Company Inc. raised its position 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 acquiring an additional 137 shares during the period. Canada Pension Plan Investment Board purchased a new position in RBC Bearings in the second quarter valued at about $54,000. Finally, EntryPoint Capital LLC purchased a new position in RBC Bearings in the first quarter valued at about $80,000.

RBC Bearings Trading Up 1.4 %

NYSE:RBC opened at $284.70 on Wednesday. The company has a market cap of $8.32 billion, a P/E ratio of 41.99, a P/E/G ratio of 3.19 and a beta of 1.51. RBC Bearings Incorporated has a 1 year low of $214.14 and a 1 year high of $309.01. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.01 and a quick ratio of 1.09. The stock’s fifty day moving average price is $289.13 and its two-hundred day moving average price is $279.15.

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

Analyst Ratings Changes

A number of equities research analysts recently commented on RBC shares. Raymond James began coverage on shares of RBC Bearings in a report on Friday, June 28th. They issued a “market perform” rating on the stock. Truist Financial lowered their target price 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 investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, RBC Bearings currently has an average rating of “Moderate Buy” and an average target price of $287.67.

Insider Activity at RBC Bearings

In other RBC Bearings news, VP Richard J. Edwards sold 4,200 shares of the 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 in the company, valued at $3,669,789.13. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other RBC Bearings news, VP Richard J. Edwards sold 4,200 shares of RBC Bearings stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $292.67, for a total value 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael J. Hartnett sold 19,283 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 317,814 shares of the company’s stock, valued at approximately $91,981,727.88. This trade 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. 2.60% 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.