Oak Ridge Investments LLC Has $2.87 Million Position in RBC Bearings Incorporated (NYSE:RBC)

Oak Ridge Investments LLC decreased its holdings in RBC Bearings Incorporated (NYSE:RBC) by 3.7% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,571 shares of the industrial products company’s stock after selling 369 shares during the quarter. Oak Ridge Investments LLC’s holdings in RBC Bearings were worth $2,865,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RBC. Vanguard Group Inc. grew its stake in shares of RBC Bearings by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 2,731,398 shares of the industrial products company’s stock valued at $738,433,000 after purchasing an additional 19,574 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in RBC Bearings by 1.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,095,607 shares of the industrial products company’s stock valued at $566,549,000 after buying an additional 20,491 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its position in 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 valued at $523,769,000 after acquiring an additional 22,470 shares during the period. Conestoga Capital Advisors LLC raised its stake in RBC Bearings by 3.5% during the second quarter. Conestoga Capital Advisors LLC now owns 728,467 shares of the industrial products company’s stock worth $196,526,000 after acquiring an additional 24,470 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of RBC Bearings by 22.7% during the second quarter. Dimensional Fund Advisors LP now owns 347,030 shares of the industrial products company’s stock valued at $93,626,000 after acquiring an additional 64,217 shares during the period.

Insider Buying and Selling at RBC Bearings

In related news, VP Richard J. Edwards sold 4,200 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $292.67, for a total transaction of $1,229,214.00. Following the completion of the transaction, the vice president now owns 12,539 shares in the company, valued at approximately $3,669,789.13. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Michael J. Hartnett sold 3,000 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $284.23, for a total value of $852,690.00. Following the completion of the transaction, the chief executive officer now directly owns 294,120 shares of the company’s stock, valued at approximately $83,597,727.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Richard J. Edwards sold 4,200 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $292.67, for a total value of $1,229,214.00. Following the transaction, the vice president now owns 12,539 shares of the company’s stock, valued at approximately $3,669,789.13. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,327 shares of company stock valued at $11,900,641. 2.60% of the stock is currently owned by company insiders.

RBC Bearings Price Performance

Shares of RBC stock opened at $280.35 on Friday. The company has a quick ratio of 1.09, a current ratio of 3.01 and a debt-to-equity ratio of 0.40. RBC Bearings Incorporated has a 12 month low of $214.49 and a 12 month high of $309.01. The firm has a market cap of $8.19 billion, a price-to-earnings ratio of 41.35, a PEG ratio of 3.28 and a beta of 1.51. The stock has a 50-day moving average price of $290.28 and a 200 day moving average price of $280.89.

RBC Bearings (NYSE:RBC) last issued its earnings results on Friday, August 2nd. The industrial products company reported $2.54 EPS for the quarter, beating the consensus estimate of $2.21 by $0.33. The company had revenue of $406.30 million during the quarter, compared to analysts’ expectations of $416.65 million. RBC Bearings had a net margin of 14.01% and a return on equity of 10.04%. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.98 EPS. Research analysts expect that RBC Bearings Incorporated will post 8.95 EPS for the current year.

Analysts Set New Price Targets

Separately, Truist Financial decreased their price objective on shares of RBC Bearings from $328.00 to $315.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $287.67.

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.