Crestwood Advisors Group LLC Makes New Investment in RBC Bearings Incorporated (NYSE:RBC)

Crestwood Advisors Group LLC bought a new position in RBC Bearings Incorporated (NYSE:RBC) during the 3rd quarter, Holdings Channel.com reports. The firm bought 717 shares of the industrial products company’s stock, valued at approximately $215,000.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in RBC Bearings by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 2,731,398 shares of the industrial products company’s stock valued at $738,433,000 after buying an additional 19,574 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of RBC Bearings by 1.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,095,607 shares of the industrial products company’s stock worth $566,549,000 after purchasing an additional 20,491 shares during the period. Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of RBC Bearings by 1.2% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,941,467 shares of the industrial products company’s stock worth $523,769,000 after purchasing an additional 22,470 shares during the last quarter. Conestoga Capital Advisors LLC increased its holdings in RBC Bearings by 1.7% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 740,842 shares of the industrial products company’s stock valued at $221,793,000 after purchasing an additional 12,375 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in RBC Bearings by 22.7% during 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 purchasing an additional 64,217 shares during the last quarter.

Analyst Upgrades and Downgrades

Separately, Truist Financial cut their price objective on RBC Bearings from $328.00 to $315.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, RBC Bearings currently has an average rating of “Moderate Buy” and an average target price of $287.67.

Insider Buying and Selling at RBC Bearings

In other news, CEO Michael J. Hartnett sold 3,000 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $284.23, for a total value of $852,690.00. Following the sale, the chief executive officer now directly owns 294,120 shares of the company’s stock, valued at $83,597,727.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Michael J. Hartnett sold 3,000 shares of RBC Bearings stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $284.23, for a total transaction of $852,690.00. Following the completion of the transaction, the chief executive officer now directly owns 294,120 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael J. Hartnett sold 11,341 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $287.52, for a total value of $3,260,764.32. Following the completion of the sale, the chief executive officer now owns 320,053 shares in the company, valued at $92,021,638.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,327 shares of company stock valued at $11,068,921. 2.60% of the stock is currently owned by company insiders.

RBC Bearings Stock Performance

Shares of RBC opened at $317.71 on Friday. The company has a 50-day simple moving average of $290.46 and a two-hundred day simple moving average of $282.67. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.48 and a quick ratio of 1.28. The firm has a market capitalization of $9.98 billion, a PE ratio of 46.38, a price-to-earnings-growth ratio of 3.26 and a beta of 1.51. RBC Bearings Incorporated has a one year low of $216.79 and a one year high of $319.40.

RBC Bearings (NYSE:RBC) last released its earnings results on Friday, November 1st. The industrial products company reported $2.29 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.01). The firm had revenue of $397.90 million during the quarter, compared to analysts’ expectations of $403.89 million. RBC Bearings had a net margin of 14.06% and a return on equity of 9.88%. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.07 EPS. On average, analysts anticipate that RBC Bearings Incorporated will post 8.95 EPS for the current fiscal year.

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.