Bamco Inc. NY Has $100.32 Million Holdings in RBC Bearings Incorporated (NYSE:RBC)

Bamco Inc. NY trimmed its position in shares of RBC Bearings Incorporated (NYSE:RBC) by 3.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 335,075 shares of the industrial products company’s stock after selling 12,381 shares during the period. Bamco Inc. NY’s holdings in RBC Bearings were worth $100,315,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. UMB Bank n.a. lifted its holdings in shares of RBC Bearings by 416.7% during the 3rd quarter. UMB Bank n.a. now owns 93 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 75 shares during the period. DT Investment Partners LLC acquired a new stake in shares of RBC Bearings in the 2nd quarter valued at $35,000. Opal Wealth Advisors LLC bought a new position in shares of RBC Bearings in the 2nd quarter valued at $41,000. Canada Pension Plan Investment Board acquired a new position in shares of RBC Bearings during the 2nd quarter worth $54,000. Finally, Strategic Financial Concepts LLC bought a new stake in shares of RBC Bearings during the 2nd quarter worth $68,000.

Wall Street Analyst Weigh In

RBC has been the subject of several research analyst reports. 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 note on Friday, November 22nd. Truist Financial upped 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. William Blair restated an “outperform” rating on shares of RBC Bearings in a research report on Tuesday, November 26th. Finally, Bank of America cut shares of RBC Bearings from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $330.00 to $335.00 in a research note on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $324.67.

RBC Bearings Trading Down 1.3 %

Shares of NYSE RBC opened at $335.11 on Monday. The firm has a 50 day moving average price of $302.31 and a two-hundred day moving average price of $290.87. The stock has a market cap of $10.53 billion, a P/E ratio of 48.92, a price-to-earnings-growth ratio of 4.60 and a beta of 1.51. RBC Bearings Incorporated has a 52-week low of $240.36 and a 52-week high of $343.92. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.28 and a current ratio of 3.48.

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 analysts’ consensus estimates of $2.30 by ($0.01). The company had revenue of $397.90 million during the quarter, compared to analyst estimates of $403.89 million. RBC Bearings had a net margin of 14.06% and a return on equity of 9.88%. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.07 earnings per share. As a group, equities analysts forecast that RBC Bearings Incorporated will post 8.94 EPS for the current year.

Insider Buying and Selling

In related news, CEO Michael J. Hartnett sold 11,341 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $287.52, for a total value of $3,260,764.32. Following the transaction, the chief executive officer now owns 320,053 shares in the company, valued at $92,021,638.56. The trade was a 3.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 34,127 shares of company stock valued at $9,839,707 over the last ninety days. 2.60% of the stock is owned by company insiders.

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.