Quantinno Capital Management LP Grows Position in RBC Bearings Incorporated $RBC

Quantinno Capital Management LP boosted its holdings in shares of RBC Bearings Incorporated (NYSE:RBCFree Report) by 29.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,915 shares of the industrial products company’s stock after acquiring an additional 1,361 shares during the period. Quantinno Capital Management LP’s holdings in RBC Bearings were worth $3,213,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of RBC Bearings in the 4th quarter valued at about $175,909,000. Northwestern Mutual Wealth Management Co. increased its holdings in RBC Bearings by 39,846.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 185,749 shares of the industrial products company’s stock valued at $83,295,000 after buying an additional 185,284 shares during the period. Cartenna Capital LP purchased a new position in RBC Bearings during the fourth quarter valued at approximately $76,233,000. Invesco Ltd. raised its stake in RBC Bearings by 60.5% in the third quarter. Invesco Ltd. now owns 381,161 shares of the industrial products company’s stock worth $148,763,000 after buying an additional 143,710 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in RBC Bearings by 2,055.5% during the fourth quarter. AQR Capital Management LLC now owns 144,741 shares of the industrial products company’s stock worth $64,906,000 after buying an additional 138,026 shares during the period.

Insider Activity at RBC Bearings

In other news, Director Dolores J. Ennico sold 600 shares of the company’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $636.11, for a total transaction of $381,666.00. Following the completion of the sale, the director owned 7,254 shares of the company’s stock, valued at $4,614,341.94. This represents a 7.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP John J. Feeney sold 225 shares of the stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $657.94, for a total transaction of $148,036.50. Following the completion of the sale, the vice president owned 2,378 shares of the company’s stock, valued at $1,564,581.32. This trade represents a 8.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 1,425 shares of company stock valued at $885,400. 1.80% of the stock is owned by insiders.

Analyst Ratings Changes

RBC has been the topic of a number of analyst reports. Truist Financial lifted their price target on RBC Bearings from $615.00 to $646.00 and gave the company a “buy” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $686.00 price objective on shares of RBC Bearings in a research report on Tuesday. Raymond James Financial upgraded shares of RBC Bearings from a “market perform” rating to an “outperform” rating and set a $645.00 target price for the company in a report on Monday, August 3rd. Morgan Stanley raised their price target on shares of RBC Bearings from $600.00 to $640.00 and gave the company an “overweight” rating in a report on Tuesday, May 19th. Finally, Zacks Research lowered shares of RBC Bearings from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 3rd. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, RBC Bearings currently has an average rating of “Moderate Buy” and a consensus price target of $623.00.

View Our Latest Stock Report on RBC

RBC Bearings Price Performance

NYSE:RBC opened at $567.91 on Friday. The company has a quick ratio of 0.98, a current ratio of 2.53 and a debt-to-equity ratio of 0.21. RBC Bearings Incorporated has a 52 week low of $364.50 and a 52 week high of $667.69. The stock’s 50-day moving average price is $597.07 and its 200-day moving average price is $573.11. The stock has a market capitalization of $17.98 billion, a PE ratio of 56.12, a price-to-earnings-growth ratio of 3.07 and a beta of 1.40.

RBC Bearings (NYSE:RBCGet Free Report) last announced its earnings results on Friday, July 31st. The industrial products company reported $3.88 EPS for the quarter, beating analysts’ consensus estimates of $3.42 by $0.46. The business had revenue of $519.50 million during the quarter, compared to analysts’ expectations of $508.92 million. RBC Bearings had a return on equity of 12.06% and a net margin of 16.40%.The business’s revenue was up 19.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.84 earnings per share. As a group, equities analysts expect that RBC Bearings Incorporated will post 14.12 EPS for the current fiscal year.

About RBC Bearings

(Free Report)

RBC Bearings Incorporated is a global designer, manufacturer and marketer of highly engineered precision bearings and components for extreme applications. The company’s product portfolio includes cylindrical roller bearings, spherical plain bearings, ball bearings, track rollers, and engineered components such as metal-to-metal and polymer bearings. These products are tailored to meet the demanding requirements of aerospace, defense and industrial customers where reliability under severe conditions is critical.

The company’s bearings and components find application in aircraft engines, auxiliary power units, landing gear systems, space and missile programs, industrial gas turbines, oil and gas drilling equipment, and heavy machinery.

See Also

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Institutional Ownership by Quarter for RBC Bearings (NYSE:RBC)

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