Nicolet Advisory Services LLC Grows Stock Position in RBC Bearings Incorporated (NYSE:RBC)

Nicolet Advisory Services LLC increased its stake in shares of RBC Bearings Incorporated (NYSE:RBC) by 6.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,413 shares of the industrial products company’s stock after acquiring an additional 144 shares during the period. Nicolet Advisory Services LLC’s holdings in RBC Bearings were worth $703,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of RBC. Russell Investments Group Ltd. increased its holdings in shares of RBC Bearings by 31.2% during the 1st quarter. Russell Investments Group Ltd. now owns 3,248 shares of the industrial products company’s stock valued at $878,000 after purchasing an additional 772 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in shares of RBC Bearings by 1.3% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 16,303 shares of the industrial products company’s stock worth $4,404,000 after acquiring an additional 203 shares in the last quarter. EntryPoint Capital LLC acquired a new stake in shares of RBC Bearings during the 1st quarter valued at about $80,000. Price T Rowe Associates Inc. MD increased its stake in shares of 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 purchasing an additional 20,491 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. boosted its position in RBC Bearings by 60.0% during the first quarter. B. Riley Wealth Advisors Inc. now owns 1,195 shares of the industrial products company’s stock worth $323,000 after purchasing an additional 448 shares in the last quarter.

Insiders Place Their Bets

In related news, VP Richard J. Edwards sold 4,200 shares of RBC Bearings stock in a transaction that occurred 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 transaction, the vice president now owns 12,539 shares in the company, valued at approximately $3,669,789.13. This trade represents a 25.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Michael J. Hartnett sold 11,341 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $287.52, for a total transaction of $3,260,764.32. Following the transaction, the chief executive officer now directly owns 320,053 shares in the company, valued at approximately $92,021,638.56. The trade was a 3.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,327 shares of company stock valued at $11,068,921 in the last ninety days. 2.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Bank of America cut RBC Bearings from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $330.00 to $335.00 in a research report on Thursday. KeyCorp raised shares of RBC Bearings from a “sector weight” rating to an “overweight” rating and set a $375.00 price target for the company in a report on Friday. Finally, Truist Financial increased their price objective on shares of RBC Bearings from $315.00 to $347.00 and gave the company a “buy” rating in a report on Wednesday. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, RBC Bearings has a consensus rating of “Moderate Buy” and an average price target of $324.67.

RBC Bearings Stock Up 3.8 %

NYSE RBC opened at $336.82 on Friday. The business has a fifty day moving average price of $297.72 and a 200 day moving average price of $288.43. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.28 and a current ratio of 3.48. The company has a market cap of $10.58 billion, a P/E ratio of 49.17, a P/E/G ratio of 3.71 and a beta of 1.51. RBC Bearings Incorporated has a one year low of $240.36 and a one year high of $337.19.

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