American Capital Management Inc. Sells 1,627 Shares of RBC Bearings Incorporated (NYSE:RBC)

American Capital Management Inc. trimmed its position in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 0.7% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 217,666 shares of the industrial products company's stock after selling 1,627 shares during the period. RBC Bearings comprises approximately 2.1% of American Capital Management Inc.'s holdings, making the stock its 20th largest holding. American Capital Management Inc. owned about 0.69% of RBC Bearings worth $65,165,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of RBC. UMB Bank n.a. raised its stake in shares of RBC Bearings by 416.7% during the third quarter. UMB Bank n.a. now owns 93 shares of the industrial products company's stock worth $28,000 after buying an additional 75 shares during the last quarter. DT Investment Partners LLC bought a new stake in shares of RBC Bearings during the 2nd quarter valued at $35,000. Opal Wealth Advisors LLC bought a new stake in shares of RBC Bearings during the 2nd quarter valued at $41,000. Canada Pension Plan Investment Board acquired a new position in shares of RBC Bearings in the 2nd quarter valued at $54,000. Finally, Strategic Financial Concepts LLC bought a new position in shares of RBC Bearings in the 2nd quarter worth $68,000.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in 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 research note on Friday, November 22nd. Truist Financial increased their price target on shares of RBC Bearings from $315.00 to $347.00 and gave the company a "buy" rating in a research report on Wednesday, November 20th. William Blair restated an "outperform" rating on shares of RBC Bearings in a report on Tuesday, November 26th. Finally, Bank of America lowered shares of RBC Bearings from a "buy" rating to a "neutral" rating and increased their target price for the stock from $330.00 to $335.00 in a report on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $324.67.

Insider Activity

In related news, CEO Michael J. Hartnett sold 19,283 shares of RBC Bearings stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $289.42, for a total value of $5,580,885.86. Following the sale, the chief executive officer now owns 317,814 shares of the company's stock, valued at approximately $91,981,727.88. The trade was a 5.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 34,127 shares of company stock worth $9,839,707 over the last ninety days. Insiders own 2.60% of the company's stock.

RBC Bearings Stock Down 1.3 %

RBC traded down $4.55 during trading on Friday, hitting $335.11. The company had a trading volume of 99,585 shares, compared to its average volume of 155,696. The company has a market capitalization of $10.53 billion, a PE ratio of 48.92, a PEG ratio of 4.60 and a beta of 1.51. The company has a quick ratio of 1.28, a current ratio of 3.48 and a debt-to-equity ratio of 0.38. RBC Bearings Incorporated has a one year low of $240.36 and a one year high of $343.92. The firm's 50-day moving average price is $302.31 and its 200 day moving average price is $290.87.

RBC Bearings (NYSE:RBC - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $397.90 million for the quarter, compared to analyst estimates of $403.89 million. RBC Bearings had a return on equity of 9.88% and a net margin of 14.06%. The firm's quarterly revenue was up 3.2% on a year-over-year basis. During the same period in the prior year, the company earned $2.07 earnings per share. As a group, equities analysts expect that RBC Bearings Incorporated will post 8.94 earnings per share for the current year.

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.