Victory Capital Management Inc. Has $7.09 Million Stake in RBC Bearings Incorporated (NYSE:RBC)

Victory Capital Management Inc. lowered its holdings in RBC Bearings Incorporated (NYSE:RBC) by 9.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 26,282 shares of the industrial products company’s stock after selling 2,722 shares during the quarter. Victory Capital Management Inc. owned about 0.09% of RBC Bearings worth $7,090,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in RBC. Vanguard Group Inc. lifted its position in RBC Bearings by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 2,731,398 shares of the industrial products company’s stock worth $738,433,000 after buying an additional 19,574 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of RBC Bearings by 1.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,095,607 shares of the industrial products company’s stock valued at $566,549,000 after purchasing an additional 20,491 shares during the last quarter. Wasatch Advisors LP increased its holdings in shares of RBC Bearings by 1.6% in the first quarter. Wasatch Advisors LP now owns 1,787,938 shares of the industrial products company’s stock valued at $483,369,000 after purchasing an additional 28,749 shares in the last quarter. Conestoga Capital Advisors LLC raised its position in RBC Bearings by 3.5% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 728,467 shares of the industrial products company’s stock worth $196,526,000 after purchasing an additional 24,470 shares during the last quarter. Finally, Maren Capital LLC boosted its position in RBC Bearings by 17.2% in the 1st quarter. Maren Capital LLC now owns 332,856 shares of the industrial products company’s stock valued at $89,988,000 after buying an additional 48,844 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on RBC. The Goldman Sachs Group boosted their price objective on RBC Bearings from $245.00 to $276.00 and gave the stock a “neutral” rating in a report on Tuesday, May 28th. Raymond James assumed coverage on shares of RBC Bearings in a report on Friday, June 28th. They issued a “market perform” rating on the stock. Truist Financial lowered their target price on shares of RBC Bearings from $328.00 to $315.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Morgan Stanley raised their price target on RBC Bearings from $310.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, May 23rd. Finally, William Blair initiated coverage on RBC Bearings in a report on Wednesday, May 29th. They issued an “outperform” rating for the company. 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.com, the company has a consensus rating of “Moderate Buy” and an average price target of $287.67.

Insider Buying and Selling

In other RBC Bearings news, Director Edward Stewart sold 3,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $277.24, for a total transaction of $831,720.00. Following the sale, the director now directly owns 20,461 shares of the company’s stock, valued at approximately $5,672,607.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, VP Richard J. Edwards sold 4,200 shares of the stock in a transaction that occurred 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 completion of the sale, the vice president now owns 12,539 shares of the company’s stock, valued at approximately $3,669,789.13. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Edward Stewart sold 3,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $277.24, for a total transaction of $831,720.00. Following the transaction, the director now owns 20,461 shares in the company, valued at $5,672,607.64. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,200 shares of company stock worth $2,913,624. 2.90% of the stock is owned by insiders.

RBC Bearings Stock Up 0.3 %

Shares of RBC Bearings stock opened at $287.49 on Monday. RBC Bearings Incorporated has a 1 year low of $214.14 and a 1 year high of $309.01. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.01 and a quick ratio of 1.09. The company has a market capitalization of $8.40 billion, a P/E ratio of 44.92, a price-to-earnings-growth ratio of 3.49 and a beta of 1.51. The business has a 50-day moving average of $287.30 and a two-hundred day moving average of $275.22.

RBC Bearings (NYSE:RBC) last announced its quarterly earnings results on Friday, August 2nd. The industrial products company reported $2.54 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.33. RBC Bearings had a net margin of 14.01% and a return on equity of 10.04%. The firm had revenue of $406.30 million for the quarter, compared to analyst estimates of $416.65 million. During the same quarter in the previous year, the firm posted $1.98 earnings per share. The business’s revenue was up 5.0% on a year-over-year basis. As a group, equities analysts predict that RBC Bearings Incorporated will post 8.85 EPS for the current 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.