Dimensional Fund Advisors LP Grows Stake in RBC Bearings Incorporated (NYSE:RBC)

Dimensional Fund Advisors LP increased its holdings in RBC Bearings Incorporated (NYSE:RBC) by 22.7% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 347,030 shares of the industrial products company’s stock after buying an additional 64,217 shares during the period. Dimensional Fund Advisors LP’s holdings in RBC Bearings were worth $93,626,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. 1832 Asset Management L.P. purchased a new stake in shares of RBC Bearings in the 4th quarter valued at about $27,000. Principal Securities Inc. purchased a new stake in RBC Bearings in the fourth quarter valued at approximately $30,000. DT Investment Partners LLC bought a new stake in RBC Bearings during the second quarter valued at approximately $35,000. Opal Wealth Advisors LLC purchased a new position in RBC Bearings in the 2nd quarter worth approximately $41,000. Finally, Benjamin F. Edwards & Company Inc. raised its position in shares of RBC Bearings by 570.8% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 161 shares of the industrial products company’s stock valued at $44,000 after buying an additional 137 shares in the last quarter.

RBC Bearings Trading Up 1.6 %

Shares of RBC stock opened at $302.79 on Wednesday. The business has a 50-day moving average of $288.20 and a 200 day moving average of $276.55. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.01 and a quick ratio of 1.09. RBC Bearings Incorporated has a 1-year low of $214.14 and a 1-year high of $309.01. The stock has a market capitalization of $8.76 billion, a PE ratio of 47.31, a P/E/G ratio of 3.49 and a beta of 1.51.

RBC Bearings (NYSE:RBC) last released its quarterly earnings data on Friday, August 2nd. The industrial products company reported $2.54 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.33. RBC Bearings had a return on equity of 10.04% and a net margin of 14.01%. The firm had revenue of $406.30 million during the quarter, compared to analyst estimates of $416.65 million. During the same quarter in the prior year, the firm posted $1.98 earnings per share. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that RBC Bearings Incorporated will post 8.85 earnings per share for the current year.

Insider Buying and Selling at RBC Bearings

In other news, VP Richard J. Edwards sold 4,200 shares of the stock in a transaction dated 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 sale, the vice president now directly owns 12,539 shares in the company, valued at $3,669,789.13. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other RBC Bearings 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 in the company, valued at approximately $83,597,727.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Richard J. Edwards sold 4,200 shares of RBC Bearings stock in a transaction dated 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 sale, the vice president now directly owns 12,539 shares in the company, valued at approximately $3,669,789.13. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,327 shares of company stock worth $11,900,641. 2.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Truist Financial cut their target price on shares of RBC Bearings from $328.00 to $315.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. William Blair assumed coverage on RBC Bearings in a report on Wednesday, May 29th. They issued an “outperform” rating for the company. The Goldman Sachs Group raised their price objective on RBC Bearings from $245.00 to $276.00 and gave the company a “neutral” rating in a report on Tuesday, May 28th. Finally, Raymond James started coverage on RBC Bearings in a research note on Friday, June 28th. They issued a “market perform” rating for the company. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $287.67.

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.