Cerity Partners LLC Buys 2,876 Shares of RBC Bearings Incorporated (NYSE:RBC)

Cerity Partners LLC increased its stake in RBC Bearings Incorporated (NYSE:RBC) by 34.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 11,240 shares of the industrial products company’s stock after purchasing an additional 2,876 shares during the quarter. Cerity Partners LLC’s holdings in RBC Bearings were worth $3,365,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in RBC. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of RBC Bearings by 1.2% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,941,467 shares of the industrial products company’s stock worth $523,769,000 after buying an additional 22,470 shares during the last quarter. Conestoga Capital Advisors LLC lifted its position in RBC Bearings by 1.7% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 740,842 shares of the industrial products company’s stock worth $221,793,000 after acquiring an additional 12,375 shares during the last quarter. Geneva Capital Management LLC boosted its holdings in RBC Bearings by 1.4% during the third quarter. Geneva Capital Management LLC now owns 590,650 shares of the industrial products company’s stock valued at $176,829,000 after acquiring an additional 8,012 shares during the period. Champlain Investment Partners LLC grew its position in shares of RBC Bearings by 12.6% in the third quarter. Champlain Investment Partners LLC now owns 365,054 shares of the industrial products company’s stock valued at $109,290,000 after purchasing an additional 40,724 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of RBC Bearings by 22.7% in the second quarter. Dimensional Fund Advisors LP now owns 347,030 shares of the industrial products company’s stock worth $93,626,000 after purchasing an additional 64,217 shares during the period.

Insider Buying and Selling at RBC Bearings

In related news, CEO Michael J. Hartnett sold 11,341 shares of RBC Bearings stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 320,053 shares of the company’s stock, valued at $92,021,638.56. The trade was a 3.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In the last quarter, insiders sold 34,127 shares of company stock worth $9,839,707. 2.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on RBC shares. William Blair restated an “outperform” rating on shares of RBC Bearings in a research note on Tuesday. Truist Financial increased their price objective on RBC Bearings from $315.00 to $347.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Bank of America cut shares of RBC Bearings from a “buy” rating to a “neutral” rating and upped their target price for the company from $330.00 to $335.00 in a research note on Thursday, November 21st. Finally, 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, November 22nd. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $324.67.

RBC Bearings Stock Down 1.3 %

Shares of NYSE RBC opened at $335.11 on Friday. The business has a fifty day moving average of $301.50 and a two-hundred day moving average of $290.28. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.28 and a current ratio of 3.48. RBC Bearings Incorporated has a 52-week low of $240.36 and a 52-week high of $343.92. The stock has a market cap of $10.53 billion, a PE ratio of 48.92, a PEG ratio of 4.67 and a beta of 1.51.

RBC Bearings (NYSE:RBC) last released its quarterly earnings results 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). RBC Bearings had a net margin of 14.06% and a return on equity of 9.88%. The firm had revenue of $397.90 million during the quarter, compared to analyst estimates of $403.89 million. During the same quarter last year, the firm earned $2.07 earnings per share. RBC Bearings’s quarterly revenue was up 3.2% on a year-over-year basis. As a group, equities research analysts expect that RBC Bearings Incorporated will post 8.94 earnings per share 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.