Loomis Sayles & Co. L P Purchases 7,380 Shares of RBC Bearings Incorporated (NYSE:RBC)

Loomis Sayles & Co. L P increased its position in shares of RBC Bearings Incorporated (NYSE:RBC) by 2.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 283,437 shares of the industrial products company’s stock after buying an additional 7,380 shares during the period. Loomis Sayles & Co. L P owned 0.90% of RBC Bearings worth $84,856,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of RBC Bearings by 1.2% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,941,467 shares of the industrial products company’s stock valued at $523,769,000 after purchasing an additional 22,470 shares during the period. Conestoga Capital Advisors LLC lifted its stake in RBC Bearings by 1.7% in the third quarter. Conestoga Capital Advisors LLC now owns 740,842 shares of the industrial products company’s stock valued at $221,793,000 after buying an additional 12,375 shares during the period. Geneva Capital Management LLC boosted its holdings in shares of RBC Bearings by 1.4% during the 3rd quarter. Geneva Capital Management LLC now owns 590,650 shares of the industrial products company’s stock worth $176,829,000 after buying an additional 8,012 shares in the last quarter. Champlain Investment Partners LLC grew its position in shares of RBC Bearings by 12.6% during the 3rd quarter. Champlain Investment Partners LLC now owns 365,054 shares of the industrial products company’s stock worth $109,290,000 after buying an additional 40,724 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake 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 valued at $93,626,000 after acquiring an additional 64,217 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on RBC shares. Bank of America lowered shares of RBC Bearings from a “buy” rating to a “neutral” rating and increased their target price for the stock from $330.00 to $335.00 in a research note on Thursday. Truist Financial increased their price objective on shares of RBC Bearings from $315.00 to $347.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Finally, KeyCorp raised RBC Bearings from a “sector weight” rating to an “overweight” rating and set a $375.00 target price for the company in a research report on Friday. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $324.67.

RBC Bearings Trading Up 3.8 %

RBC opened at $336.82 on Monday. The firm has a market capitalization of $10.58 billion, a PE ratio of 49.17, a P/E/G ratio of 4.63 and a beta of 1.51. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.48 and a quick ratio of 1.28. RBC Bearings Incorporated has a fifty-two week low of $240.36 and a fifty-two week high of $337.19. The company’s 50-day moving average is $297.72 and its 200 day moving average is $288.60.

RBC Bearings (NYSE:RBC) last posted 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 net margin of 14.06% and a return on equity of 9.88%. The company had revenue of $397.90 million during the quarter, compared to the consensus estimate of $403.89 million. During the same quarter in the prior year, the business earned $2.07 EPS. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. As a group, research analysts predict that RBC Bearings Incorporated will post 8.94 earnings per share for the current fiscal year.

Insider Activity

In other news, VP Richard J. Edwards sold 4,200 shares of the business’s 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 owns 12,539 shares in the company, valued at $3,669,789.13. The trade was a 25.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael J. Hartnett sold 3,000 shares of the stock in a transaction that occurred on 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. The trade was a 1.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 38,327 shares of company stock worth $11,068,921 over the last quarter. Insiders own 2.60% of the company’s stock.

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.