TimesSquare Capital Management LLC Has $27.13 Million Stock Holdings in RBC Bearings Incorporated (NYSE:RBC)

TimesSquare Capital Management LLC boosted its position in RBC Bearings Incorporated (NYSE:RBC - Free Report) by 17.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 90,605 shares of the industrial products company's stock after purchasing an additional 13,395 shares during the quarter. TimesSquare Capital Management LLC owned about 0.31% of RBC Bearings worth $27,125,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Legacy Advisors LLC lifted its stake in shares of RBC Bearings by 1.4% during the second 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. lifted its stake in shares of RBC Bearings by 416.7% during the 3rd 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 during the period. GAMMA Investing LLC grew its position in shares of RBC Bearings by 23.2% in the third quarter. GAMMA Investing LLC now owns 440 shares of the industrial products company's stock valued at $132,000 after purchasing an additional 83 shares during the period. RiverPark Advisors LLC increased its stake in RBC Bearings by 9.6% in the second quarter. RiverPark Advisors LLC now owns 993 shares of the industrial products company's stock valued at $268,000 after purchasing an additional 87 shares during the last quarter. Finally, Atria Investments Inc lifted its position in RBC Bearings by 1.8% during the third quarter. Atria Investments Inc now owns 7,277 shares of the industrial products company's stock worth $2,179,000 after buying an additional 127 shares during the period.

RBC Bearings Stock Up 0.7 %

Shares of RBC traded up $2.14 during mid-day trading on Friday, reaching $319.85. 160,383 shares of the stock traded hands, compared to its average volume of 137,659. The stock has a fifty day simple moving average of $290.90 and a 200 day simple moving average of $283.46. RBC Bearings Incorporated has a 12-month low of $216.79 and a 12-month high of $322.11. The company has a quick ratio of 1.28, a current ratio of 3.48 and a debt-to-equity ratio of 0.38. The firm has a market cap of $10.05 billion, a price-to-earnings ratio of 46.69, a P/E/G ratio of 3.66 and a beta of 1.51.

RBC Bearings (NYSE:RBC - Get Free Report) last announced its earnings results 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 business had revenue of $397.90 million for the quarter, compared to analyst estimates of $403.89 million. During the same quarter in the prior year, the business earned $2.07 earnings per share. The firm's revenue was up 3.2% on a year-over-year basis. Sell-side analysts expect that RBC Bearings Incorporated will post 8.94 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Truist Financial lowered their price target on RBC Bearings from $328.00 to $315.00 and set a "buy" rating for the company in a 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. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $287.67.

Insider Buying and Selling at RBC Bearings

In other news, CEO Michael J. Hartnett sold 3,000 shares of the firm's stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $284.23, for a total transaction of $852,690.00. Following the completion of the sale, the chief executive officer now owns 294,120 shares of the company's stock, valued at approximately $83,597,727.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Michael J. Hartnett sold 3,000 shares of the business's stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $284.23, for a total value of $852,690.00. Following the completion of the sale, the chief executive officer now directly owns 294,120 shares of the company's stock, valued at $83,597,727.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Richard J. Edwards sold 4,200 shares of the company's stock in a transaction that occurred on 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 sale, the vice president now owns 12,539 shares in the company, valued at $3,669,789.13. The trade was a 0.00 % 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 three months. Corporate 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.