Advantage Alpha Capital Partners LP Has $4.09 Million Position in RBC Bearings Incorporated (NYSE:RBC)

Advantage Alpha Capital Partners LP lowered its position in shares of RBC Bearings Incorporated (NYSE:RBC) by 37.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,679 shares of the industrial products company’s stock after selling 8,161 shares during the period. Advantage Alpha Capital Partners LP’s holdings in RBC Bearings were worth $4,089,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in RBC. CWM LLC raised its stake in RBC Bearings by 41.3% in the 2nd quarter. CWM LLC now owns 10,436 shares of the industrial products company’s stock worth $2,815,000 after purchasing an additional 3,051 shares in the last quarter. TimesSquare Capital Management LLC grew its position in RBC Bearings by 17.3% during the third quarter. TimesSquare Capital Management LLC now owns 90,605 shares of the industrial products company’s stock worth $27,125,000 after buying an additional 13,395 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in RBC Bearings during the 2nd quarter worth $2,380,000. Segall Bryant & Hamill LLC raised its holdings in RBC Bearings by 41.6% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 29,715 shares of the industrial products company’s stock valued at $8,896,000 after acquiring an additional 8,725 shares in the last quarter. Finally, Geneva Capital Management LLC grew its holdings in shares of RBC Bearings by 1.4% during the 3rd 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 in the last quarter.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on RBC. Bank of America cut shares of RBC Bearings from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $330.00 to $335.00 in a research report on Thursday, November 21st. KeyCorp upgraded shares of RBC Bearings from a “sector weight” rating to an “overweight” rating and set a $375.00 price target on the stock in a research report on Friday. Finally, Truist Financial boosted their price objective on shares of RBC Bearings from $315.00 to $347.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $324.67.

RBC Bearings Trading Up 0.6 %

RBC opened at $338.85 on Tuesday. The company’s 50 day moving average is $298.76 and its 200-day moving average is $289.10. The company has a market cap of $10.64 billion, a P/E ratio of 49.47, a PEG ratio of 4.63 and a beta of 1.51. RBC Bearings Incorporated has a 1-year low of $240.36 and a 1-year high of $343.66. The company has a current ratio of 3.48, a quick ratio of 1.28 and a debt-to-equity ratio of 0.38.

RBC Bearings (NYSE:RBC) last posted its earnings results 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). 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 for the quarter, compared to the consensus estimate of $403.89 million. During the same period in the previous year, the firm posted $2.07 EPS. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. Equities research analysts predict that RBC Bearings Incorporated will post 8.94 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Michael J. Hartnett sold 503 shares of RBC Bearings 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 in the company, valued at $93,227,932. This trade represents a 0.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 34,127 shares of company stock worth $9,839,707 in the last 90 days. Insiders own 2.60% of the company’s stock.

RBC Bearings Company 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.