Conestoga Capital Advisors LLC Boosts Stake in RBC Bearings Incorporated (NYSE:RBC)

Conestoga Capital Advisors LLC lifted its stake in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 1.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 740,842 shares of the industrial products company's stock after acquiring an additional 12,375 shares during the quarter. RBC Bearings accounts for about 3.0% of Conestoga Capital Advisors LLC's portfolio, making the stock its 12th largest position. Conestoga Capital Advisors LLC owned 2.53% of RBC Bearings worth $221,793,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. UMB Bank n.a. grew its stake in shares of RBC Bearings by 416.7% during the third quarter. UMB Bank n.a. now owns 93 shares of the industrial products company's stock worth $28,000 after purchasing an additional 75 shares in the last quarter. DT Investment Partners LLC purchased a new stake in RBC Bearings in the second quarter valued at approximately $35,000. Opal Wealth Advisors LLC purchased a new position in shares of RBC Bearings during the second quarter worth approximately $41,000. Canada Pension Plan Investment Board acquired a new position in shares of RBC Bearings in the 2nd quarter valued at $54,000. Finally, Strategic Financial Concepts LLC purchased a new stake in RBC Bearings in the 2nd quarter valued at $68,000.

RBC Bearings Stock Performance

RBC Bearings stock traded up $4.95 during trading hours on Friday, reaching $285.30. 215,265 shares of the stock were exchanged, compared to its average volume of 142,871. RBC Bearings Incorporated has a 52-week low of $214.64 and a 52-week high of $309.01. The stock has a market cap of $8.34 billion, a P/E ratio of 41.35, a P/E/G ratio of 3.28 and a beta of 1.51. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.09 and a current ratio of 3.01. The firm's 50 day moving average is $290.28 and its 200 day moving average is $280.89.

RBC Bearings (NYSE:RBC - Get Free Report) last posted its quarterly earnings results on Friday, November 1st. The industrial products company reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.10 by $0.19. RBC Bearings had a net margin of 14.01% and a return on equity of 10.04%. The firm had revenue of $397.90 million during the quarter, compared to analysts' expectations of $403.89 million. During the same period in the prior year, the company posted $2.07 earnings per share. The firm's revenue for the quarter was up 3.2% on a year-over-year basis. Analysts predict that RBC Bearings Incorporated will post 8.95 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Truist Financial lowered their price objective on shares of 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 given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $287.67.

Insider Activity at RBC Bearings

In related news, VP Richard J. Edwards sold 4,200 shares of the firm's stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $292.67, for a total value of $1,229,214.00. Following the completion of the sale, the vice president now owns 12,539 shares in the company, valued at $3,669,789.13. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other RBC Bearings news, CEO Michael J. Hartnett sold 19,283 shares of the company's stock in a transaction on Friday, September 13th. The stock was sold at an average price of $289.42, for a total value of $5,580,885.86. Following the sale, the chief executive officer now owns 317,814 shares of the company's stock, valued at approximately $91,981,727.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Richard J. Edwards sold 4,200 shares of RBC Bearings stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $292.67, for a total value of $1,229,214.00. Following the transaction, the vice president now directly owns 12,539 shares of the company's stock, valued at $3,669,789.13. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 41,327 shares of company stock worth $11,900,641 over the last three months. 2.60% of the stock is currently owned by corporate insiders.

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.