Stifel Financial Corp Sells 53 Shares of RBC Bearings Incorporated (NYSE:RBC)

Stifel Financial Corp trimmed its position in RBC Bearings Incorporated (NYSE:RBC) by 0.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 46,454 shares of the industrial products company’s stock after selling 53 shares during the quarter. Stifel Financial Corp owned approximately 0.15% of RBC Bearings worth $13,907,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of RBC Bearings by 1.2% in the 2nd 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 purchasing an additional 22,470 shares during the last quarter. Conestoga Capital Advisors LLC lifted its holdings in 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 buying an additional 12,375 shares during the period. Geneva Capital Management LLC grew its holdings in 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 acquiring an additional 8,012 shares during the period. Port Capital LLC grew its holdings in RBC Bearings by 0.9% during the 3rd quarter. Port Capital LLC now owns 385,101 shares of the industrial products company’s stock worth $115,292,000 after acquiring an additional 3,525 shares during the period. Finally, Maren Capital LLC lifted its stake in shares of RBC Bearings by 3.8% in the 3rd quarter. Maren Capital LLC now owns 379,113 shares of the industrial products company’s stock valued at $113,499,000 after purchasing an additional 13,812 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on RBC shares. William Blair reaffirmed an “outperform” rating on shares of RBC Bearings in a research note on Tuesday, November 26th. Bank of America cut RBC Bearings from a “buy” rating to a “neutral” rating and upped their price target for the company from $330.00 to $335.00 in a research note on Thursday, November 21st. KeyCorp raised shares of RBC Bearings from a “sector weight” rating to an “overweight” rating and set a $375.00 price objective on the stock in a research note on Friday, November 22nd. Finally, Truist Financial upped their target price 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. Based on data from MarketBeat.com, RBC Bearings has a consensus rating of “Moderate Buy” and a consensus price target of $324.67.

Insider Buying and Selling at RBC Bearings

In other news, CEO Michael J. Hartnett sold 19,283 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $289.42, for a total transaction of $5,580,885.86. Following the completion of the transaction, the chief executive officer now directly owns 317,814 shares of the company’s stock, valued at $91,981,727.88. This trade represents a 5.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 31,127 shares of company stock valued at $8,987,017 in the last 90 days. 2.60% of the stock is currently owned by company insiders.

RBC Bearings Price Performance

NYSE RBC opened at $332.63 on Wednesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.28 and a current ratio of 3.48. The stock has a market cap of $10.45 billion, a price-to-earnings ratio of 48.56, a PEG ratio of 4.60 and a beta of 1.55. The business has a 50 day simple moving average of $307.31 and a 200 day simple moving average of $293.27. RBC Bearings Incorporated has a 52-week low of $240.36 and a 52-week high of $346.77.

RBC Bearings (NYSE:RBC) last issued its quarterly earnings data on Friday, November 1st. The industrial products company reported $2.29 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.01). The company 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%. The company’s revenue was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.07 earnings per share. Analysts anticipate that RBC Bearings Incorporated will post 8.94 earnings per share for the current fiscal year.

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.