B. Metzler seel. Sohn & Co. Holding AG Purchases New Shares in RBC Bearings Incorporated (NYSE:RBC)

B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) in the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 10,465 shares of the industrial products company's stock, valued at approximately $3,133,000.

A number of other hedge funds have also made changes to their positions in RBC. Fifth Third Wealth Advisors LLC increased its position in shares of RBC Bearings by 33.3% during the third quarter. Fifth Third Wealth Advisors LLC now owns 1,142 shares of the industrial products company's stock worth $342,000 after purchasing an additional 285 shares in the last quarter. Pathstone Holdings LLC boosted its stake in RBC Bearings by 2.4% during the 3rd quarter. Pathstone Holdings LLC now owns 9,967 shares of the industrial products company's stock worth $2,984,000 after purchasing an additional 235 shares during the last quarter. Quest Partners LLC grew its holdings in shares of RBC Bearings by 276.5% during the third quarter. Quest Partners LLC now owns 2,481 shares of the industrial products company's stock worth $743,000 after buying an additional 1,822 shares in the last quarter. RiverPark Advisors LLC raised its position in shares of RBC Bearings by 48.6% in the third quarter. RiverPark Advisors LLC now owns 1,476 shares of the industrial products company's stock valued at $442,000 after buying an additional 483 shares during the last quarter. Finally, Chesapeake Capital Corp IL lifted its stake in shares of RBC Bearings by 29.0% in the third quarter. Chesapeake Capital Corp IL now owns 2,148 shares of the industrial products company's stock worth $644,000 after buying an additional 483 shares in the last quarter.

Analyst Ratings Changes

A number of research firms recently weighed in on RBC. Truist Financial boosted their price target on shares of RBC Bearings from $315.00 to $347.00 and gave the stock a "buy" rating in a research report on Wednesday. Bank of America lowered RBC Bearings from a "buy" rating to a "neutral" rating and upped their price target for the company from $330.00 to $335.00 in a research report on Thursday. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $314.60.

Insider Buying and Selling

In related news, CEO Michael J. Hartnett sold 503 shares of the firm's stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $289.00, for a total transaction of $145,367.00. Following the completion of the transaction, the chief executive officer now directly owns 322,588 shares in the company, valued at $93,227,932. This trade represents a 0.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Richard J. Edwards sold 4,200 shares of RBC Bearings stock in a transaction that occurred on 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 transaction, the vice president now owns 12,539 shares of the company's stock, valued at $3,669,789.13. This trade represents a 25.09 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,327 shares of company stock valued at $11,068,921. 2.60% of the stock is currently owned by insiders.

RBC Bearings Stock Performance

RBC Bearings stock opened at $324.43 on Thursday. The firm has a 50 day simple moving average of $295.97 and a 200-day simple moving average of $287.44. The stock has a market cap of $10.19 billion, a price-to-earnings ratio of 47.36, a price-to-earnings-growth ratio of 3.69 and a beta of 1.51. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.48 and a quick ratio of 1.28. RBC Bearings Incorporated has a 1-year low of $239.23 and a 1-year high of $328.39.

RBC Bearings (NYSE:RBC - Get Free Report) last posted its earnings results on Friday, November 1st. The industrial products company reported $2.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.01). RBC Bearings had a return on equity of 9.88% and a net margin of 14.06%. The business had revenue of $397.90 million for the quarter, compared to analyst estimates of $403.89 million. During the same period last year, the business earned $2.07 EPS. RBC Bearings's revenue was up 3.2% compared to the same quarter last year. On average, analysts expect that RBC Bearings Incorporated will post 8.94 EPS for the current 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.