Geneva Capital Management LLC Raises Holdings in RBC Bearings Incorporated (NYSE:RBC)

Geneva Capital Management LLC boosted its stake in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 1.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 590,650 shares of the industrial products company's stock after acquiring an additional 8,012 shares during the quarter. RBC Bearings comprises about 3.0% of Geneva Capital Management LLC's investment portfolio, making the stock its 7th biggest position. Geneva Capital Management LLC owned 2.02% of RBC Bearings worth $176,829,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Quantbot Technologies LP bought a new position in shares of RBC Bearings during the first quarter valued at approximately $215,000. Sei Investments Co. grew its stake in RBC Bearings by 5.5% in the first quarter. Sei Investments Co. now owns 134,385 shares of the industrial products company's stock worth $36,330,000 after purchasing an additional 6,962 shares in the last quarter. Russell Investments Group Ltd. grew its stake in RBC Bearings by 31.2% in the first quarter. Russell Investments Group Ltd. now owns 3,248 shares of the industrial products company's stock worth $878,000 after purchasing an additional 772 shares in the last quarter. Bleakley Financial Group LLC grew its stake in RBC Bearings by 12.0% in the first quarter. Bleakley Financial Group LLC now owns 3,582 shares of the industrial products company's stock worth $968,000 after purchasing an additional 385 shares in the last quarter. Finally, Nicolet Advisory Services LLC grew its stake in RBC Bearings by 49.7% in the first quarter. Nicolet Advisory Services LLC now owns 1,762 shares of the industrial products company's stock worth $471,000 after purchasing an additional 585 shares in the last quarter.

RBC Bearings Stock Down 1.6 %

Shares of RBC Bearings stock traded down $5.09 during trading on Tuesday, reaching $314.99. The company's stock had a trading volume of 24,976 shares, compared to its average volume of 142,865. The company has a quick ratio of 1.28, a current ratio of 3.48 and a debt-to-equity ratio of 0.38. The company has a market cap of $9.89 billion, a price-to-earnings ratio of 46.71, a P/E/G ratio of 3.66 and a beta of 1.51. RBC Bearings Incorporated has a 1-year low of $226.71 and a 1-year high of $328.39. The company has a 50-day simple moving average of $291.34 and a two-hundred day simple moving average of $284.26.

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 analysts' consensus estimates of $2.30 by ($0.01). The business had revenue of $397.90 million during 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 revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.07 EPS. As a group, equities analysts forecast that RBC Bearings Incorporated will post 8.94 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Michael J. Hartnett sold 3,000 shares of the firm's stock in a transaction on Monday, September 9th. The stock was sold at an average price of $284.23, for a total value of $852,690.00. Following the completion of the transaction, the chief executive officer now owns 294,120 shares in the company, valued at $83,597,727.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Michael J. Hartnett sold 3,000 shares of RBC Bearings stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $284.23, for a total value of $852,690.00. Following the sale, the chief executive officer now directly owns 294,120 shares in the company, valued at approximately $83,597,727.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael J. Hartnett sold 503 shares of RBC Bearings stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $289.00, for a total value of $145,367.00. Following the completion of the sale, the chief executive officer now owns 322,588 shares in the company, valued at approximately $93,227,932. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 38,327 shares of company stock worth $11,068,921 in the last 90 days. Insiders own 2.60% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Truist Financial dropped their target price on 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 analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $287.67.

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.

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