MetLife Investment Management LLC Has $4.49 Million Holdings in RBC Bearings Incorporated (NYSE:RBC)

MetLife Investment Management LLC trimmed its stake in RBC Bearings Incorporated (NYSE:RBC) by 1.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,007 shares of the industrial products company’s stock after selling 274 shares during the period. MetLife Investment Management LLC’s holdings in RBC Bearings were worth $4,493,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Kayne Anderson Rudnick Investment Management LLC increased its stake in RBC Bearings by 1.2% during the second 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 acquiring an additional 22,470 shares during the period. Conestoga Capital Advisors LLC raised its stake in shares of 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 purchasing an additional 12,375 shares in the last quarter. Geneva Capital Management LLC lifted its position in RBC Bearings by 1.4% in the third quarter. Geneva Capital Management LLC now owns 590,650 shares of the industrial products company’s stock worth $176,829,000 after purchasing an additional 8,012 shares during the period. Champlain Investment Partners LLC boosted its stake in RBC Bearings by 12.6% during the third 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 in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in 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 buying an additional 64,217 shares during the period.

Insider Activity at RBC Bearings

In other news, CEO Michael J. Hartnett sold 11,341 shares of the stock in a transaction 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 transaction, the chief executive officer now owns 320,053 shares of the company’s stock, valued at $92,021,638.56. This represents a 3.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold 34,127 shares of company stock worth $9,839,707 over the last ninety days. Company insiders own 2.60% of the company’s stock.

RBC Bearings Price Performance

RBC opened at $335.11 on Monday. The stock has a market capitalization 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 one year low of $240.36 and a one year high of $343.92. 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 company’s 50 day simple moving average is $302.31 and its 200-day simple moving average is $290.87.

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

Wall Street Analyst Weigh In

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

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.