Centaurus Financial Inc. Raises Position in RBC Bearings Incorporated (NYSE:RBC)

Centaurus Financial Inc. grew its stake in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 233.1% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 2,851 shares of the industrial products company's stock after purchasing an additional 1,995 shares during the period. Centaurus Financial Inc.'s holdings in RBC Bearings were worth $854,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC raised its position in RBC Bearings by 1.2% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,941,467 shares of the industrial products company's stock valued at $523,769,000 after buying an additional 22,470 shares during the last quarter. Conestoga Capital Advisors LLC raised its holdings in shares of RBC Bearings by 1.7% in the third quarter. Conestoga Capital Advisors LLC now owns 740,842 shares of the industrial products company's stock valued at $221,793,000 after purchasing an additional 12,375 shares during the last quarter. Geneva Capital Management LLC lifted its position in shares of RBC Bearings by 1.4% during the third quarter. Geneva Capital Management LLC now owns 590,650 shares of the industrial products company's stock valued at $176,829,000 after purchasing an additional 8,012 shares in the last quarter. Champlain Investment Partners LLC boosted its holdings in RBC Bearings by 12.6% during the third quarter. Champlain Investment Partners LLC now owns 365,054 shares of the industrial products company's stock worth $109,290,000 after purchasing an additional 40,724 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in RBC Bearings by 22.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 347,030 shares of the industrial products company's stock worth $93,626,000 after purchasing an additional 64,217 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research firms have commented on RBC. William Blair reissued an "outperform" rating on shares of RBC Bearings in a research report on Tuesday. Truist Financial lifted their price target on RBC Bearings from $315.00 to $347.00 and gave the stock a "buy" rating in a report on Wednesday, November 20th. Bank of America cut RBC Bearings from a "buy" rating to a "neutral" rating and boosted their price objective for the stock from $330.00 to $335.00 in a research report on Thursday, November 21st. Finally, KeyCorp raised RBC Bearings from a "sector weight" rating to an "overweight" rating and set a $375.00 target price for the company in a research report on Friday. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $324.67.

Insider Activity at RBC Bearings

In other news, CEO Michael J. Hartnett sold 11,341 shares of the company's stock in a transaction dated 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 sale, the chief executive officer now directly owns 320,053 shares in the company, valued at $92,021,638.56. This represents a 3.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In the last ninety days, insiders sold 34,127 shares of company stock worth $9,839,707. Corporate insiders own 2.60% of the company's stock.

RBC Bearings Stock Performance

NYSE RBC traded up $1.19 on Tuesday, hitting $339.97. 282,902 shares of the stock traded hands, compared to its average volume of 144,262. The business's fifty day moving average is $298.76 and its two-hundred day moving average is $289.10. RBC Bearings Incorporated has a 12 month low of $240.36 and a 12 month high of $343.66. The firm has a market capitalization of $10.68 billion, a price-to-earnings ratio of 49.71, a PEG ratio of 4.63 and a beta of 1.51. 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 (NYSE:RBC - Get Free Report) last released its quarterly earnings data on Friday, November 1st. The industrial products company reported $2.29 EPS 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 analysts' expectations of $403.89 million. RBC Bearings had a net margin of 14.06% and a return on equity of 9.88%. RBC Bearings's revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period last year, the company earned $2.07 earnings per share. As a group, equities analysts anticipate that RBC Bearings Incorporated will post 8.94 EPS for the current fiscal 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.