Loomis Sayles & Co. L P Purchases 7,380 Shares of RBC Bearings Incorporated (NYSE:RBC)

Loomis Sayles & Co. L P boosted its position in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 2.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 283,437 shares of the industrial products company's stock after purchasing an additional 7,380 shares during the quarter. Loomis Sayles & Co. L P owned about 0.90% of RBC Bearings worth $84,856,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Jennison Associates LLC boosted its stake in shares of RBC Bearings by 170.2% in the third quarter. Jennison Associates LLC now owns 118,240 shares of the industrial products company's stock valued at $35,399,000 after buying an additional 74,474 shares during the period. Dimensional Fund Advisors LP raised its stake in RBC Bearings by 22.7% in the second quarter. Dimensional Fund Advisors LP now owns 347,030 shares of the industrial products company's stock valued at $93,626,000 after purchasing an additional 64,217 shares in the last quarter. American Century Companies Inc. lifted its position in RBC Bearings by 30.4% during the second quarter. American Century Companies Inc. now owns 206,630 shares of the industrial products company's stock worth $55,745,000 after purchasing an additional 48,209 shares during the period. Douglas Lane & Associates LLC grew its stake in RBC Bearings by 123.9% during the second quarter. Douglas Lane & Associates LLC now owns 81,862 shares of the industrial products company's stock worth $22,085,000 after buying an additional 45,294 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in RBC Bearings in the 2nd quarter valued at about $11,708,000.

Insider Activity at RBC Bearings

In other RBC Bearings news, CEO Michael J. Hartnett sold 3,000 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $284.23, for a total transaction of $852,690.00. Following the transaction, the chief executive officer now directly owns 294,120 shares in the company, valued at approximately $83,597,727.60. This represents a 1.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Richard J. Edwards sold 4,200 shares of RBC Bearings stock in a transaction 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 sale, the vice president now owns 12,539 shares of the company's stock, valued at $3,669,789.13. This represents a 25.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,327 shares of company stock worth $11,068,921 over the last ninety days. Insiders own 2.60% of the company's stock.

RBC Bearings Trading Up 0.6 %

NYSE RBC traded up $1.96 during trading hours on Monday, reaching $338.78. The company's stock had a trading volume of 218,265 shares, compared to its average volume of 143,579. The firm has a fifty day simple moving average of $297.72 and a 200-day simple moving average of $288.60. 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 52 week low of $240.36 and a 52 week high of $343.66. The stock has a market cap of $10.64 billion, a P/E ratio of 49.17, a P/E/G ratio of 4.63 and a beta of 1.51.

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). RBC Bearings had a net margin of 14.06% and a return on equity of 9.88%. The company had revenue of $397.90 million during the quarter, compared to analyst estimates of $403.89 million. During the same quarter in the previous year, the company earned $2.07 earnings per share. The business's revenue for the quarter was up 3.2% on a year-over-year basis. Equities analysts forecast that RBC Bearings Incorporated will post 8.94 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

RBC has been the subject of several recent analyst reports. Truist Financial upped their target price on RBC Bearings from $315.00 to $347.00 and gave the stock a "buy" rating in a research note on Wednesday, November 20th. KeyCorp upgraded RBC Bearings from a "sector weight" rating to an "overweight" rating and set a $375.00 target price on the stock in a research report on Friday. Finally, Bank of America cut 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. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, RBC Bearings currently has a consensus rating of "Moderate Buy" and an average target price of $324.67.

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.