RBC Bearings Incorporated (NYSE:RBC) Shares Sold by Conestoga Capital Advisors LLC

Conestoga Capital Advisors LLC lessened its stake in shares of RBC Bearings Incorporated (NYSE:RBC) by 0.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 739,877 shares of the industrial products company’s stock after selling 965 shares during the quarter. RBC Bearings comprises approximately 2.9% of Conestoga Capital Advisors LLC’s portfolio, making the stock its 9th biggest position. Conestoga Capital Advisors LLC owned about 2.36% of RBC Bearings worth $221,327,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of RBC. UMB Bank n.a. lifted its holdings in shares of RBC Bearings by 416.7% in the 3rd 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 during the period. R Squared Ltd acquired a new stake in RBC Bearings in the fourth quarter valued at $30,000. Harbor Investment Advisory LLC purchased a new stake in shares of RBC Bearings during the 4th quarter worth $82,000. Blue Trust Inc. grew its stake in shares of RBC Bearings by 541.9% during the 3rd 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. Finally, Quarry LP increased its holdings in shares of RBC Bearings by 1,003.7% in the 3rd quarter. Quarry LP now owns 298 shares of the industrial products company’s stock valued at $89,000 after purchasing an additional 271 shares in the last quarter.

Analysts Set New Price Targets

Several research analysts have weighed in on RBC shares. KeyCorp upped their target price on shares of RBC Bearings from $375.00 to $395.00 and gave the stock an “overweight” rating in a research report on Monday. Bank of America cut RBC Bearings from a “buy” rating to a “neutral” rating and upped their price target for the stock from $330.00 to $335.00 in a report on Thursday, November 21st. Truist Financial boosted their target price on RBC Bearings from $347.00 to $351.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Finally, William Blair restated an “outperform” rating on shares of RBC Bearings in a research report on Tuesday, November 26th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, RBC Bearings has a consensus rating of “Moderate Buy” and an average price target of $328.67.

RBC Bearings Stock Up 8.2 %

RBC opened at $348.34 on Monday. The business’s fifty day simple moving average is $316.93 and its 200 day simple moving average is $301.27. RBC Bearings Incorporated has a 52 week low of $240.36 and a 52 week high of $364.96. The firm has a market cap of $10.94 billion, a P/E ratio of 47.85, a PEG ratio of 4.81 and a beta of 1.58. The company has a quick ratio of 1.18, a current ratio of 3.43 and a debt-to-equity ratio of 0.34.

RBC Bearings (NYSE:RBC) last posted its quarterly earnings results on Friday, November 1st. The industrial products company reported $2.29 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.01). RBC Bearings had a net margin of 14.59% and a return on equity of 10.06%. The business had revenue of $397.90 million during the quarter, compared to analysts’ expectations of $403.89 million. During the same quarter in the previous year, the business posted $2.07 EPS. The company’s quarterly revenue was up 3.2% on a year-over-year basis. As a group, equities research analysts anticipate that RBC Bearings Incorporated will post 8.91 EPS for the current fiscal year.

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.