RBC Bearings Incorporated (NYSE:RBC) Shares Sold by Quantbot Technologies LP

Quantbot Technologies LP lowered its stake in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 53.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,330 shares of the industrial products company's stock after selling 3,793 shares during the period. Quantbot Technologies LP's holdings in RBC Bearings were worth $997,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. CWM LLC boosted its stake in RBC Bearings by 41.3% in the 2nd quarter. CWM LLC now owns 10,436 shares of the industrial products company's stock worth $2,815,000 after buying an additional 3,051 shares during the last quarter. TimesSquare Capital Management LLC boosted its holdings in shares of RBC Bearings by 17.3% in the 3rd quarter. TimesSquare Capital Management LLC now owns 90,605 shares of the industrial products company's stock valued at $27,125,000 after purchasing an additional 13,395 shares during the last quarter. Segall Bryant & Hamill LLC grew its stake in shares of RBC Bearings by 41.6% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 29,715 shares of the industrial products company's stock valued at $8,896,000 after buying an additional 8,725 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in shares of RBC Bearings during the 2nd quarter worth $2,380,000. Finally, Loomis Sayles & Co. L P raised its position in shares of RBC Bearings by 2.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 283,437 shares of the industrial products company's stock worth $84,856,000 after buying an additional 7,380 shares during the period.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In related news, CEO Michael J. Hartnett sold 11,341 shares of the stock in a transaction dated Monday, September 16th. The shares were 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 34,127 shares of company stock valued at $9,839,707 over the last 90 days. 2.60% of the stock is owned by company insiders.

RBC Bearings Stock Up 0.7 %

NYSE RBC traded up $2.23 during mid-day trading on Monday, reaching $337.34. 70,885 shares of the company's stock traded hands, compared to its average volume of 143,756. The company has a market cap of $10.60 billion, a price-to-earnings ratio of 48.92, a P/E/G ratio of 4.60 and a beta of 1.51. The company has a current ratio of 3.48, a quick ratio of 1.28 and a debt-to-equity ratio of 0.38. The company has a fifty day simple moving average of $302.31 and a 200-day simple moving average of $291.00. RBC Bearings Incorporated has a 1-year low of $240.36 and a 1-year high of $343.92.

RBC Bearings (NYSE:RBC - Get Free Report) last announced its quarterly earnings data on Friday, November 1st. The industrial products company reported $2.29 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.01). RBC Bearings had a return on equity of 9.88% and a net margin of 14.06%. The company had revenue of $397.90 million for the quarter, compared to analyst estimates of $403.89 million. During the same period in the prior year, the business earned $2.07 earnings per share. RBC Bearings's revenue was up 3.2% on a year-over-year basis. As a group, equities research analysts expect that RBC Bearings Incorporated will post 8.94 EPS for the current 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.