RBC Bearings Incorporated (NYSE:RBC) Holdings Raised by Maren Capital LLC

Maren Capital LLC lifted its stake in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 3.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 379,113 shares of the industrial products company's stock after acquiring an additional 13,812 shares during the quarter. RBC Bearings makes up approximately 9.3% of Maren Capital LLC's holdings, making the stock its 2nd biggest position. Maren Capital LLC owned about 1.21% of RBC Bearings worth $113,499,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Marco Investment Management LLC raised its holdings in shares of RBC Bearings by 6.6% during the 3rd quarter. Marco Investment Management LLC now owns 810 shares of the industrial products company's stock worth $242,000 after acquiring an additional 50 shares in the last quarter. Raymond James Trust N.A. raised its holdings in RBC Bearings by 2.6% during the 3rd quarter. Raymond James Trust N.A. now owns 2,116 shares of the industrial products company's stock valued at $633,000 after buying an additional 53 shares during the period. Legacy Advisors LLC raised its holdings in RBC Bearings by 1.4% during the 2nd quarter. Legacy Advisors LLC now owns 4,534 shares of the industrial products company's stock valued at $1,223,000 after buying an additional 61 shares during the period. UMB Bank n.a. raised its holdings 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 buying an additional 75 shares during the period. Finally, GAMMA Investing LLC raised its holdings in 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.

RBC Bearings Stock Down 0.4 %

RBC stock traded down $1.32 during trading on Wednesday, reaching $339.71. 148,997 shares of the company traded hands, compared to its average volume of 144,092. RBC Bearings Incorporated has a 12 month low of $240.36 and a 12 month high of $343.92. The business has a 50 day simple moving average of $303.82 and a 200 day simple moving average of $291.84. The company has a market capitalization of $10.67 billion, a price-to-earnings ratio of 49.79, a price-to-earnings-growth ratio of 4.61 and a beta of 1.55. 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 issued 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 company had revenue of $397.90 million for the quarter, compared to the consensus estimate 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 in the previous year, the business earned $2.07 EPS. On average, equities research analysts anticipate that RBC Bearings Incorporated will post 8.94 earnings per share for the current fiscal year.

Analysts Set New Price Targets

RBC has been the topic of a number of recent analyst reports. William Blair reiterated an "outperform" rating on shares of RBC Bearings in a research note on Tuesday, November 26th. Truist Financial increased their price target on RBC Bearings from $315.00 to $347.00 and gave the stock a "buy" rating in a research report on Wednesday, November 20th. KeyCorp raised RBC Bearings from a "sector weight" rating to an "overweight" rating and set a $375.00 price target on the stock in a research report on Friday, November 22nd. Finally, Bank of America downgraded RBC Bearings from a "buy" rating to a "neutral" rating and increased their price target for the stock from $330.00 to $335.00 in a research report on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $324.67.

Insider Activity at RBC Bearings

In other RBC Bearings news, CEO Michael J. Hartnett sold 3,000 shares of the business's stock in a transaction 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 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders sold 34,127 shares of company stock worth $9,839,707. 2.60% of the stock is owned by corporate insiders.

About RBC Bearings

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.