Captrust Financial Advisors Lowers Holdings in RBC Bearings Incorporated (NYSE:RBC)

Captrust Financial Advisors trimmed its position in RBC Bearings Incorporated (NYSE:RBC) by 2.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,442 shares of the industrial products company’s stock after selling 133 shares during the period. Captrust Financial Advisors’ holdings in RBC Bearings were worth $1,330,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RBC. First Commonwealth Financial Corp PA purchased a new stake in shares of RBC Bearings during the 3rd quarter worth $464,000. FMR LLC boosted its position in shares of RBC Bearings by 61.3% during the 3rd quarter. FMR LLC now owns 4,191 shares of the industrial products company’s stock worth $1,255,000 after purchasing an additional 1,593 shares in the last quarter. Loomis Sayles & Co. L P boosted its position in shares of RBC Bearings by 2.7% during the 3rd quarter. Loomis Sayles & Co. L P now owns 283,437 shares of the industrial products company’s stock worth $84,856,000 after purchasing an additional 7,380 shares in the last quarter. Dynamic Technology Lab Private Ltd boosted its position in shares of RBC Bearings by 18.9% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 2,957 shares of the industrial products company’s stock worth $885,000 after purchasing an additional 471 shares in the last quarter. Finally, Marco Investment Management LLC boosted its position in shares of RBC Bearings by 6.6% during the 3rd quarter. Marco Investment Management LLC now owns 810 shares of the industrial products company’s stock worth $242,000 after purchasing an additional 50 shares in the last quarter.

Analyst Upgrades and Downgrades

RBC has been the topic of several research analyst reports. KeyCorp upgraded shares of RBC Bearings from a “sector weight” rating to an “overweight” rating and set a $375.00 target price on the stock in a research report on Friday, November 22nd. William Blair restated an “outperform” rating on shares of RBC Bearings in a research report on Tuesday, November 26th. Bank of America downgraded RBC Bearings from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $330.00 to $335.00 in a research note on Thursday, November 21st. Finally, Truist Financial increased their price objective on shares of RBC Bearings from $315.00 to $347.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, RBC Bearings has a consensus rating of “Moderate Buy” and a consensus target price of $324.67.

Insiders Place Their Bets

In other RBC Bearings news, CEO Michael J. Hartnett sold 503 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $289.00, for a total value 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 trade represents a 0.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders sold 34,127 shares of company stock valued at $9,839,707. Company insiders own 2.60% of the company’s stock.

RBC Bearings Stock Up 0.0 %

RBC opened at $334.39 on Friday. The firm has a market cap of $10.50 billion, a P/E ratio of 48.82, a PEG ratio of 4.67 and a beta of 1.55. The business’s fifty day simple moving average is $306.02 and its 200 day simple moving average is $292.71. RBC Bearings Incorporated has a 52 week low of $240.36 and a 52 week high of $346.77. The company has a quick ratio of 1.28, a current ratio of 3.48 and a debt-to-equity ratio of 0.38.

RBC Bearings (NYSE:RBC) last released 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 for the quarter, compared to analyst estimates of $403.89 million. RBC Bearings had a return on equity of 9.88% and a net margin of 14.06%. RBC Bearings’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same period in the prior year, the business earned $2.07 earnings per share. As a group, equities research analysts anticipate that RBC Bearings Incorporated will post 8.94 EPS for the current fiscal 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.