Stephens Investment Management Group LLC Sells 8,513 Shares of RBC Bearings Incorporated (NYSE:RBC)

Stephens Investment Management Group LLC lessened its holdings in RBC Bearings Incorporated (NYSE:RBC) by 2.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 306,519 shares of the industrial products company’s stock after selling 8,513 shares during the period. RBC Bearings makes up about 1.3% of Stephens Investment Management Group LLC’s investment portfolio, making the stock its 18th largest position. Stephens Investment Management Group LLC owned about 1.05% of RBC Bearings worth $91,766,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. UMB Bank n.a. increased its position in RBC Bearings by 416.7% in the third quarter. UMB Bank n.a. now owns 93 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 75 shares during the last quarter. DT Investment Partners LLC bought a new position in RBC Bearings during the second quarter valued at $35,000. Opal Wealth Advisors LLC bought a new position in RBC Bearings during the second quarter valued at $41,000. Canada Pension Plan Investment Board bought a new position in RBC Bearings during the second quarter valued at $54,000. Finally, Blue Trust Inc. increased its position in RBC Bearings by 541.9% during the third quarter. Blue Trust Inc. now owns 276 shares of the industrial products company’s stock valued at $83,000 after acquiring an additional 233 shares during the last quarter.

Insider Buying and Selling

In other RBC Bearings news, CEO Michael J. Hartnett sold 19,283 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $289.42, for a total transaction of $5,580,885.86. Following the completion of the sale, the chief executive officer now directly owns 317,814 shares of the company’s stock, valued at approximately $91,981,727.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other RBC Bearings news, VP Richard J. Edwards sold 4,200 shares of the stock in a transaction dated Tuesday, August 27th. The shares were 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael J. Hartnett sold 19,283 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $289.42, for a total transaction of $5,580,885.86. Following the sale, the chief executive officer now directly owns 317,814 shares of the company’s stock, valued at approximately $91,981,727.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,327 shares of company stock valued at $11,900,641 over the last three months. 2.60% of the stock is owned by company insiders.

RBC Bearings Stock Down 2.1 %

Shares of RBC opened at $280.35 on Friday. The firm has a market capitalization of $8.19 billion, a P/E ratio of 41.35, a P/E/G ratio of 3.28 and a beta of 1.51. RBC Bearings Incorporated has a 12-month low of $214.49 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. The firm has a fifty day moving average price of $290.28 and a 200-day moving average price of $280.89.

RBC Bearings (NYSE:RBC) last released its quarterly earnings data on Friday, August 2nd. The industrial products company reported $2.54 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.33. RBC Bearings had a net margin of 14.01% and a return on equity of 10.04%. The company had revenue of $406.30 million during the quarter, compared to analyst estimates of $416.65 million. During the same period in the prior year, the firm earned $1.98 earnings per share. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. Equities research analysts expect that RBC Bearings Incorporated will post 8.95 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Truist Financial cut their price objective on shares of 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 investment 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 a consensus rating of “Moderate Buy” and an average target price of $287.67.

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.