Marshall Wace LLP Purchases Shares of 906 RBC Bearings Incorporated (NYSE:RBC)

Marshall Wace LLP purchased a new stake in RBC Bearings Incorporated (NYSE:RBC) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 906 shares of the industrial products company’s stock, valued at approximately $244,000.

Several other institutional investors have also recently added to or reduced their stakes in RBC. Dimensional Fund Advisors LP lifted its stake in 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 valued at $93,626,000 after buying an additional 64,217 shares during the period. Maren Capital LLC lifted its stake in RBC Bearings by 17.2% in the first quarter. Maren Capital LLC now owns 332,856 shares of the industrial products company’s stock valued at $89,988,000 after buying an additional 48,844 shares during the period. American Century Companies Inc. lifted its stake in RBC Bearings by 30.4% in the second quarter. American Century Companies Inc. now owns 206,630 shares of the industrial products company’s stock valued at $55,745,000 after buying an additional 48,209 shares during the period. Douglas Lane & Associates LLC lifted its stake in RBC Bearings by 123.9% in the second quarter. Douglas Lane & Associates LLC now owns 81,862 shares of the industrial products company’s stock valued at $22,085,000 after buying an additional 45,294 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in RBC Bearings in the second quarter valued at approximately $11,708,000.

Analysts Set New Price Targets

Several equities analysts have issued reports on RBC shares. Raymond James began coverage on RBC Bearings in a research note on Friday, June 28th. They issued a “market perform” rating on the stock. Truist Financial lowered their target price on RBC Bearings from $328.00 to $315.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, RBC Bearings presently has a consensus rating of “Moderate Buy” and a consensus price target of $287.67.

RBC Bearings Trading Up 0.8 %

NYSE RBC opened at $280.88 on Friday. The firm has a market capitalization of $8.21 billion, a P/E ratio of 41.43, a PEG ratio of 3.22 and a beta of 1.51. The business has a fifty day simple moving average of $288.81 and a 200 day simple moving average of $278.93. RBC Bearings Incorporated has a 12 month low of $214.14 and a 12 month 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 released its quarterly earnings results on Friday, August 2nd. The industrial products company reported $2.54 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.33. The business had revenue of $406.30 million during the quarter, compared to analyst estimates of $416.65 million. RBC Bearings had a return on equity of 10.04% and a net margin of 14.01%. RBC Bearings’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.98 EPS. On average, analysts predict that RBC Bearings Incorporated will post 8.95 EPS for the current fiscal year.

Insider Activity at RBC Bearings

In related news, VP Richard J. Edwards sold 4,200 shares of the stock in a transaction on 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 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other RBC Bearings news, VP Richard J. Edwards sold 4,200 shares of the company’s stock in a transaction on 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 completion of the transaction, the vice president now owns 12,539 shares in the company, valued at $3,669,789.13. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael J. Hartnett sold 19,283 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $289.42, for a total value of $5,580,885.86. Following the completion of the transaction, the chief executive officer now owns 317,814 shares of the company’s stock, valued at $91,981,727.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 41,327 shares of company stock valued at $11,900,641. 2.60% of the stock is owned by insiders.

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.