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Brown Capital Management LLC Has $1.05 Million Stock Position in RBC Bearings Incorporated (NYSE:RBC)

RBC Bearings logo with Industrial Products background

Brown Capital Management LLC trimmed its holdings in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 74.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,504 shares of the industrial products company's stock after selling 10,098 shares during the period. Brown Capital Management LLC's holdings in RBC Bearings were worth $1,049,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Legacy Advisors LLC lifted its position in RBC Bearings by 1.4% in the second quarter. Legacy Advisors LLC now owns 4,534 shares of the industrial products company's stock worth $1,223,000 after purchasing an additional 61 shares during the period. UMB Bank n.a. grew its stake in RBC Bearings by 416.7% during the 3rd quarter. UMB Bank n.a. now owns 93 shares of the industrial products company's stock valued at $28,000 after acquiring an additional 75 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of RBC Bearings by 23.2% during the 3rd quarter. GAMMA Investing LLC now owns 440 shares of the industrial products company's stock valued at $132,000 after buying an additional 83 shares during the period. RiverPark Advisors LLC lifted its holdings in shares of RBC Bearings by 9.6% during the 2nd quarter. RiverPark Advisors LLC now owns 993 shares of the industrial products company's stock valued at $268,000 after buying an additional 87 shares during the last quarter. Finally, Atria Investments Inc lifted its stake in shares of RBC Bearings by 1.8% in the 3rd quarter. Atria Investments Inc now owns 7,277 shares of the industrial products company's stock valued at $2,179,000 after purchasing an additional 127 shares during the last quarter.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Truist Financial upped their price target on RBC Bearings from $315.00 to $347.00 and gave the stock a "buy" rating in a report on Wednesday. Bank of America lowered shares of RBC Bearings from a "buy" rating to a "neutral" rating and raised their price objective for the stock from $330.00 to $335.00 in a report on Thursday. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $314.60.

Get Our Latest Report on RBC

RBC Bearings Stock Up 0.1 %

Shares of RBC Bearings stock traded up $0.36 on Thursday, hitting $324.82. The company had a trading volume of 109,732 shares, compared to its average volume of 143,057. The stock has a 50-day moving average of $296.74 and a 200-day moving average of $287.70. RBC Bearings Incorporated has a twelve month low of $240.36 and a twelve month high of $328.39. The firm has a market capitalization of $10.20 billion, a P/E ratio of 47.42, a P/E/G 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 (NYSE:RBC - Get Free Report) last announced its quarterly earnings data on Friday, November 1st. The industrial products company reported $2.29 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.30 by ($0.01). RBC Bearings had a return on equity of 9.88% and a net margin of 14.06%. The company had revenue of $397.90 million for the quarter, compared to the consensus estimate of $403.89 million. During the same quarter in the prior year, the company earned $2.07 EPS. The company's revenue for the quarter was up 3.2% on a year-over-year basis. Research analysts predict that RBC Bearings Incorporated will post 8.94 earnings per share for the current year.

Insider Activity

In other RBC Bearings news, VP Richard J. Edwards sold 4,200 shares of the firm's stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $292.67, for a total transaction of $1,229,214.00. Following the transaction, the vice president now owns 12,539 shares in the company, valued at $3,669,789.13. This trade represents a 25.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael J. Hartnett sold 3,000 shares of the company's stock in a transaction on Monday, September 9th. The shares were sold at an average price of $284.23, for a total value of $852,690.00. Following the sale, the chief executive officer now owns 294,120 shares of the company's stock, valued at approximately $83,597,727.60. The trade was a 1.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,327 shares of company stock valued at $11,068,921 over the last ninety days. 2.60% of the stock is currently owned by company insiders.

RBC Bearings Profile

(Free Report)

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.

Further Reading

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

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