Quest Partners LLC Raises Stock Holdings in RBC Bearings Incorporated (NYSE:RBC)

Quest Partners LLC boosted its holdings in shares of RBC Bearings Incorporated (NYSE:RBC) by 16,375.0% during the 2nd quarter, Holdings Channel.com reports. The firm owned 659 shares of the industrial products company’s stock after purchasing an additional 655 shares during the quarter. Quest Partners LLC’s holdings in RBC Bearings were worth $178,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Strategic Financial Concepts LLC bought a new stake in shares of RBC Bearings in the second quarter worth $68,000. Torray Investment Partners LLC grew its holdings in RBC Bearings by 10.9% during the 2nd quarter. Torray Investment Partners LLC now owns 8,404 shares of the industrial products company’s stock worth $2,267,000 after acquiring an additional 825 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of RBC Bearings by 3,780.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 970 shares of the industrial products company’s stock worth $260,000 after purchasing an additional 945 shares during the last quarter. Legacy Advisors LLC raised its stake in shares of RBC Bearings by 1.4% in the 2nd quarter. Legacy Advisors LLC now owns 4,534 shares of the industrial products company’s stock valued at $1,223,000 after purchasing an additional 61 shares in the last quarter. Finally, Conestoga Capital Advisors LLC lifted its position in shares of 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 purchasing an additional 24,470 shares during the last quarter.

Analyst Upgrades and Downgrades

RBC has been the subject of several research analyst reports. Raymond James started coverage on RBC Bearings in a report on Friday, June 28th. They issued a “market perform” rating for the company. Morgan Stanley lifted their price target on shares of RBC Bearings from $310.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. William Blair started coverage on RBC Bearings in a research report on Wednesday, May 29th. They issued an “outperform” rating on the stock. The Goldman Sachs Group raised their price target on shares of RBC Bearings from $245.00 to $276.00 and gave the company a “neutral” rating in a research note on Tuesday, May 28th. Finally, Truist Financial reduced their price objective on RBC Bearings from $328.00 to $315.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $287.67.

Insider Activity

In related news, Director Edward Stewart sold 3,000 shares of RBC Bearings stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $277.24, for a total transaction of $831,720.00. Following the transaction, the director now directly owns 20,461 shares of the company’s stock, valued at $5,672,607.64. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, VP Richard J. Edwards sold 4,200 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was 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 of the company’s stock, valued at approximately $3,669,789.13. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Edward Stewart sold 3,000 shares of RBC Bearings stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $277.24, for a total value of $831,720.00. Following the completion of the transaction, the director now owns 20,461 shares in the company, valued at $5,672,607.64. The disclosure for this sale can be found here. Insiders sold a total of 10,200 shares of company stock worth $2,913,624 over the last 90 days. 2.90% of the stock is currently owned by company insiders.

RBC Bearings Stock Up 0.3 %

RBC stock opened at $287.49 on Monday. The firm’s 50-day moving average is $287.30 and its two-hundred day moving average is $275.22. The company has a market capitalization of $8.40 billion, a price-to-earnings ratio of 44.92, a price-to-earnings-growth ratio of 3.49 and a beta of 1.51. RBC Bearings Incorporated has a 52 week low of $214.14 and a 52 week high of $309.01. The company has a current ratio of 3.01, a quick ratio of 1.09 and a debt-to-equity ratio of 0.40.

RBC Bearings (NYSE:RBC) last announced its earnings results on Friday, August 2nd. The industrial products company reported $2.54 EPS for the quarter, topping the consensus estimate of $2.21 by $0.33. The firm had revenue of $406.30 million for the quarter, compared to analysts’ expectations of $416.65 million. RBC Bearings had a return on equity of 10.04% and a net margin of 14.01%. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.98 earnings per share. On average, analysts forecast that RBC Bearings Incorporated will post 8.85 earnings per share for the current fiscal year.

About RBC Bearings

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.