Curi RMB Capital LLC Raises Stock Holdings in RBC Bearings Incorporated (NYSE:RBC)

Curi RMB Capital LLC raised its holdings in shares of RBC Bearings Incorporated (NYSE:RBC) by 2.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 51,905 shares of the industrial products company’s stock after purchasing an additional 1,309 shares during the quarter. Curi RMB Capital LLC owned 0.17% of RBC Bearings worth $15,539,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. UMB Bank n.a. raised its stake in RBC Bearings by 416.7% during 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 in the last quarter. DT Investment Partners LLC acquired a new stake in shares of RBC Bearings during the 2nd quarter valued at approximately $35,000. Opal Wealth Advisors LLC bought a new position in RBC Bearings during the second quarter worth $41,000. Canada Pension Plan Investment Board acquired a new position in RBC Bearings in the second quarter worth $54,000. Finally, Blue Trust Inc. boosted its holdings in RBC Bearings by 541.9% in the third quarter. Blue Trust Inc. now owns 276 shares of the industrial products company’s stock worth $83,000 after purchasing an additional 233 shares during the period.

Insider Activity at RBC Bearings

In other news, VP Richard J. Edwards sold 4,200 shares of the business’s stock in a transaction 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 sale, the vice president now owns 12,539 shares of the company’s stock, valued at approximately $3,669,789.13. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, VP Richard J. Edwards sold 4,200 shares of RBC Bearings stock in a transaction that occurred on Tuesday, August 27th. The shares were 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 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 SEC, which is accessible through this link. Also, CEO Michael J. Hartnett sold 503 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $289.00, for a total transaction of $145,367.00. Following the sale, the chief executive officer now directly owns 322,588 shares of the company’s stock, valued at approximately $93,227,932. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,327 shares of company stock worth $11,068,921 over the last quarter. 2.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Separately, Truist Financial dropped their price objective on shares of RBC Bearings from $328.00 to $315.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $297.20.

RBC Bearings Stock Up 0.1 %

RBC opened at $315.69 on Thursday. 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 12 month low of $236.00 and a 12 month high of $328.39. The stock’s 50 day moving average price is $292.47 and its 200 day moving average price is $284.97. The stock has a market cap of $9.92 billion, a P/E ratio of 46.09, a P/E/G ratio of 3.61 and a beta of 1.51.

RBC Bearings (NYSE:RBC) last posted 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). RBC Bearings had a return on equity of 9.88% and a net margin of 14.06%. The company had revenue of $397.90 million during the quarter, compared to analyst estimates of $403.89 million. During the same period in the previous year, the company earned $2.07 EPS. The business’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 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.