Holocene Advisors LP Boosts Stake in RBC Bearings Incorporated (NYSE:RBC)

Holocene Advisors LP lifted its stake in shares of RBC Bearings Incorporated (NYSE:RBC - Free Report) by 69.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,396 shares of the industrial products company's stock after buying an additional 5,078 shares during the period. Holocene Advisors LP's holdings in RBC Bearings were worth $3,711,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in RBC Bearings by 1.2% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,941,467 shares of the industrial products company's stock worth $523,769,000 after purchasing an additional 22,470 shares in the last quarter. Conestoga Capital Advisors LLC raised its holdings in shares of RBC Bearings by 1.7% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 740,842 shares of the industrial products company's stock valued at $221,793,000 after acquiring an additional 12,375 shares in the last quarter. Geneva Capital Management LLC increased its position in shares of RBC Bearings by 1.4% in the third quarter. Geneva Capital Management LLC now owns 590,650 shares of the industrial products company's stock worth $176,829,000 after purchasing an additional 8,012 shares during the last quarter. Champlain Investment Partners LLC raised its position in shares of RBC Bearings by 12.6% during the 3rd quarter. Champlain Investment Partners LLC now owns 365,054 shares of the industrial products company's stock valued at $109,290,000 after buying an additional 40,724 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of RBC Bearings by 22.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 347,030 shares of the industrial products company's stock worth $93,626,000 after acquiring an additional 64,217 shares during the last quarter.

Insider Buying and Selling at RBC Bearings

In other news, CEO Michael J. Hartnett sold 11,341 shares of the company's stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $287.52, for a total value of $3,260,764.32. Following the completion of the transaction, the chief executive officer now owns 320,053 shares of the company's stock, 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 SEC, which is available at this hyperlink. Over the last quarter, insiders sold 34,127 shares of company stock valued at $9,839,707. Company insiders own 2.60% of the company's stock.

Wall Street Analysts Forecast Growth

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

RBC Bearings Stock Up 0.0 %

RBC stock traded up $0.13 during midday trading on Friday, hitting $334.39. The company's stock had a trading volume of 108,715 shares, compared to its average volume of 143,762. The firm's 50-day moving average is $305.33 and its 200-day moving average is $292.47. The company has a current ratio of 3.48, a quick ratio of 1.28 and a debt-to-equity ratio of 0.38. RBC Bearings Incorporated has a 12 month low of $240.36 and a 12 month high of $346.77. The company has a market cap of $10.50 billion, a PE ratio of 48.54, a P/E/G ratio of 4.69 and a beta of 1.55.

RBC Bearings (NYSE:RBC - Get Free Report) last released 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 net margin of 14.06% and a return on equity of 9.88%. The company had revenue of $397.90 million for the quarter, compared to analysts' expectations of $403.89 million. The firm's revenue for the quarter was up 3.2% on a year-over-year basis. During the same period in the previous year, the firm earned $2.07 earnings per share. On average, equities research analysts forecast that RBC Bearings Incorporated will post 8.94 earnings per share for the current fiscal year.

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.