Atom Investors LP Buys 441 Shares of RBC Bearings Incorporated (NYSE:RBC)

Atom Investors LP raised its stake in shares of RBC Bearings Incorporated (NYSE:RBC) by 39.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,564 shares of the industrial products company’s stock after acquiring an additional 441 shares during the quarter. Atom Investors LP’s holdings in RBC Bearings were worth $468,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Marco Investment Management LLC lifted its holdings in shares of RBC Bearings by 6.6% during the third quarter. Marco Investment Management LLC now owns 810 shares of the industrial products company’s stock valued at $242,000 after acquiring an additional 50 shares during the period. Raymond James Trust N.A. raised its holdings in shares of RBC Bearings by 2.6% in the third quarter. Raymond James Trust N.A. now owns 2,116 shares of the industrial products company’s stock valued at $633,000 after buying an additional 53 shares during the last quarter. Legacy Advisors LLC raised its holdings in shares of RBC Bearings by 1.4% in the second quarter. Legacy Advisors LLC now owns 4,534 shares of the industrial products company’s stock valued at $1,223,000 after buying an additional 61 shares during the last quarter. UMB Bank n.a. raised its holdings 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 valued at $28,000 after buying an additional 75 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of RBC Bearings by 23.2% in the third quarter. GAMMA Investing LLC now owns 440 shares of the industrial products company’s stock valued at $132,000 after buying an additional 83 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Bank of America cut RBC Bearings from a “buy” rating to a “neutral” rating and lifted their price target for the company from $330.00 to $335.00 in a report on Thursday, November 21st. Truist Financial lifted their price target on RBC Bearings from $315.00 to $347.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. William Blair reaffirmed an “outperform” rating on shares of RBC Bearings in a report on Tuesday, November 26th. Finally, KeyCorp raised RBC Bearings from a “sector weight” rating to an “overweight” rating and set a $375.00 price target for the company in a report on Friday, November 22nd. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $324.67.

Insider Transactions at RBC Bearings

In other news, CEO Michael J. Hartnett sold 19,283 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $289.42, for a total transaction of $5,580,885.86. Following the completion of the transaction, the chief executive officer now directly owns 317,814 shares in the company, valued at approximately $91,981,727.88. The trade was a 5.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders sold 34,127 shares of company stock worth $9,839,707. 2.60% of the stock is currently owned by company insiders.

RBC Bearings Stock Performance

Shares of NYSE:RBC opened at $339.89 on Thursday. The stock has a market capitalization of $10.68 billion, a P/E ratio of 49.62, a P/E/G ratio of 4.61 and a beta of 1.55. RBC Bearings Incorporated has a 1-year low of $240.36 and a 1-year high of $343.92. The company has a current ratio of 3.48, a quick ratio of 1.28 and a debt-to-equity ratio of 0.38. The business has a 50-day moving average price of $303.82 and a two-hundred day moving average price of $291.84.

RBC Bearings (NYSE:RBC) last announced its quarterly earnings data on Friday, November 1st. The industrial products company reported $2.29 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.01). The firm had revenue of $397.90 million for the quarter, compared to the consensus estimate of $403.89 million. RBC Bearings had a return on equity of 9.88% and a net margin of 14.06%. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.07 earnings per share. Equities analysts predict that RBC Bearings Incorporated will post 8.94 earnings per share for the current year.

RBC Bearings 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.