RBC Bearings Incorporated (NYSE:RBC) Shares Bought by Segall Bryant & Hamill LLC

Segall Bryant & Hamill LLC increased its position in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 41.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,715 shares of the industrial products company's stock after purchasing an additional 8,725 shares during the quarter. Segall Bryant & Hamill LLC owned 0.09% of RBC Bearings worth $8,896,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP boosted its stake in 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 valued at $93,626,000 after acquiring an additional 64,217 shares during the last quarter. American Century Companies Inc. boosted its stake in RBC Bearings by 30.4% during the 2nd quarter. American Century Companies Inc. now owns 206,630 shares of the industrial products company's stock valued at $55,745,000 after acquiring an additional 48,209 shares during the last quarter. Douglas Lane & Associates LLC boosted its stake in RBC Bearings by 123.9% during the 2nd quarter. Douglas Lane & Associates LLC now owns 81,862 shares of the industrial products company's stock valued at $22,085,000 after acquiring an additional 45,294 shares during the last quarter. Renaissance Technologies LLC bought a new position in RBC Bearings during the 2nd quarter valued at $11,708,000. Finally, Millennium Management LLC boosted its stake in RBC Bearings by 313.5% during the 2nd quarter. Millennium Management LLC now owns 46,861 shares of the industrial products company's stock valued at $12,642,000 after acquiring an additional 35,529 shares during the last quarter.

Analyst Ratings Changes

RBC has been the topic of a number of research analyst reports. KeyCorp upgraded shares of RBC Bearings from a "sector weight" rating to an "overweight" rating and set a $375.00 price objective on the stock in a research note on Friday. Bank of America downgraded shares of RBC Bearings from a "buy" rating to a "neutral" rating and raised their price target for the stock from $330.00 to $335.00 in a research report on Thursday. Finally, Truist Financial raised their price target on shares of RBC Bearings from $315.00 to $347.00 and gave the stock a "buy" rating in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, RBC Bearings presently has a consensus rating of "Moderate Buy" and an average target price of $324.67.

RBC Bearings Stock Performance

Shares of RBC stock traded up $12.20 during trading hours on Friday, reaching $336.65. The stock had a trading volume of 186,915 shares, compared to its average volume of 143,250. 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 twelve month low of $240.36 and a twelve month high of $337.19. The firm has a 50-day simple moving average of $297.72 and a 200-day simple moving average of $288.24. The firm has a market capitalization of $10.57 billion, a PE ratio of 49.15, a price-to-earnings-growth ratio of 3.69 and a beta of 1.51.

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 analysts' consensus estimates of $2.30 by ($0.01). RBC Bearings had a return on equity of 9.88% and a net margin of 14.06%. The firm had revenue of $397.90 million during the quarter, compared to analyst estimates of $403.89 million. During the same period last year, the business earned $2.07 EPS. The firm's revenue was up 3.2% on a year-over-year basis. As a group, equities analysts forecast that RBC Bearings Incorporated will post 8.94 earnings per share for the current year.

Insider Buying and Selling

In other RBC Bearings news, CEO Michael J. Hartnett sold 19,283 shares of the firm's stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $289.42, for a total transaction of $5,580,885.86. Following the transaction, the chief executive officer now owns 317,814 shares of the company's stock, valued at approximately $91,981,727.88. This trade represents a 5.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction of $1,229,214.00. Following the transaction, the vice president now directly owns 12,539 shares in the company, valued at approximately $3,669,789.13. The trade was a 25.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,327 shares of company stock valued at $11,068,921 in the last quarter. Company insiders own 2.60% of the company's stock.

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.