RBC Bearings Incorporated (NYSE:RBC) Shares Bought by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd increased its stake in RBC Bearings Incorporated (NYSE:RBC) by 18.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,957 shares of the industrial products company’s stock after purchasing an additional 471 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in RBC Bearings were worth $885,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RBC. CWM LLC lifted its stake in shares of RBC Bearings by 41.3% in the 2nd quarter. CWM LLC now owns 10,436 shares of the industrial products company’s stock worth $2,815,000 after acquiring an additional 3,051 shares during the period. TimesSquare Capital Management LLC lifted its position in RBC Bearings by 17.3% in the third quarter. TimesSquare Capital Management LLC now owns 90,605 shares of the industrial products company’s stock worth $27,125,000 after purchasing an additional 13,395 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in RBC Bearings during the 2nd quarter valued at $2,380,000. Segall Bryant & Hamill LLC increased its position in shares of RBC Bearings by 41.6% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 29,715 shares of the industrial products company’s stock valued at $8,896,000 after purchasing an additional 8,725 shares during the period. Finally, Geneva Capital Management LLC raised its stake in shares of RBC Bearings by 1.4% in the 3rd quarter. Geneva Capital Management LLC now owns 590,650 shares of the industrial products company’s stock worth $176,829,000 after buying an additional 8,012 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. KeyCorp raised RBC Bearings from a “sector weight” rating to an “overweight” rating and set a $375.00 target price on the stock in a report on Friday, November 22nd. Bank of America cut shares of RBC Bearings from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $330.00 to $335.00 in a research note on Thursday, November 21st. William Blair restated an “outperform” rating on shares of RBC Bearings in a report on Tuesday. Finally, Truist Financial upped their price target on RBC Bearings from $315.00 to $347.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, RBC Bearings currently has an average rating of “Moderate Buy” and a consensus price target of $324.67.

RBC Bearings Trading Down 0.1 %

NYSE RBC opened at $339.66 on Thursday. The firm’s 50 day moving average price is $299.76 and its two-hundred day moving average price is $289.58. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.28 and a current ratio of 3.48. RBC Bearings Incorporated has a twelve month low of $240.36 and a twelve month high of $343.66. The stock has a market cap of $10.67 billion, a price-to-earnings ratio of 49.59, a PEG ratio of 4.66 and a beta of 1.51.

RBC Bearings (NYSE:RBC) last posted its quarterly earnings results on Friday, November 1st. The industrial products company reported $2.29 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.01). The business had revenue of $397.90 million for 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%. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the firm posted $2.07 earnings per share. Equities analysts anticipate that RBC Bearings Incorporated will post 8.94 EPS for the current year.

Insider Buying and Selling at RBC Bearings

In related news, CEO Michael J. Hartnett sold 11,341 shares of RBC Bearings stock in a transaction on Monday, September 16th. The stock was sold at an average price of $287.52, for a total transaction of $3,260,764.32. Following the completion of the sale, the chief executive officer now owns 320,053 shares of the company’s stock, valued at approximately $92,021,638.56. This trade represents a 3.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders have sold 34,127 shares of company stock worth $9,839,707. 2.60% of the stock is currently owned by company insiders.

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.