Dimensional Fund Advisors LP Has $93.63 Million Stock Holdings in RBC Bearings Incorporated (NYSE:RBC)

Dimensional Fund Advisors LP grew its stake in shares of RBC Bearings Incorporated (NYSE:RBC) by 22.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 347,030 shares of the industrial products company’s stock after purchasing an additional 64,217 shares during the period. Dimensional Fund Advisors LP owned approximately 1.20% of RBC Bearings worth $93,626,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in RBC. Teachers Retirement System of The State of Kentucky increased its stake in RBC Bearings by 54.9% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 8,985 shares of the industrial products company’s stock valued at $2,560,000 after purchasing an additional 3,185 shares in the last quarter. Evoke Wealth LLC acquired a new stake in shares of RBC Bearings in the 4th quarter worth about $6,589,000. Diversify Advisory Services LLC acquired a new position in RBC Bearings during the 1st quarter valued at about $802,000. Price T Rowe Associates Inc. MD increased its holdings in RBC Bearings by 1.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,095,607 shares of the industrial products company’s stock worth $566,549,000 after purchasing an additional 20,491 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado raised its stake in shares of RBC Bearings by 1,362.5% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 118,830 shares of the industrial products company’s stock worth $33,853,000 after purchasing an additional 110,705 shares during the last quarter.

RBC Bearings Trading Up 1.6 %

Shares of RBC stock opened at $302.79 on Wednesday. The company has a quick ratio of 1.09, a current ratio of 3.01 and a debt-to-equity ratio of 0.40. The firm has a market cap of $8.76 billion, a P/E ratio of 47.31, a PEG ratio of 3.49 and a beta of 1.51. The company has a 50 day moving average of $288.20 and a 200-day moving average of $276.55. RBC Bearings Incorporated has a 12-month low of $214.14 and a 12-month high of $309.01.

RBC Bearings (NYSE:RBC) last released its earnings results on Friday, August 2nd. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $0.33. RBC Bearings had a return on equity of 10.04% and a net margin of 14.01%. The business had revenue of $406.30 million during the quarter, compared to the consensus estimate of $416.65 million. During the same period last year, the business posted $1.98 earnings per share. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. Sell-side analysts anticipate that RBC Bearings Incorporated will post 8.85 earnings per share for the current year.

Insider Activity at RBC Bearings

In other news, CEO Michael J. Hartnett sold 503 shares of RBC Bearings stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $289.00, for a total value of $145,367.00. Following the completion of the transaction, the chief executive officer now owns 322,588 shares in the company, valued at $93,227,932. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Michael J. Hartnett sold 503 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $289.00, for a total value of $145,367.00. Following the completion of the transaction, the chief executive officer now directly owns 322,588 shares of the company’s stock, valued at $93,227,932. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael J. Hartnett sold 11,341 shares of RBC Bearings stock in a transaction on Monday, September 16th. The shares were 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. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,327 shares of company stock worth $11,900,641. Company insiders own 2.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on RBC. Truist Financial cut their target price on RBC Bearings from $328.00 to $315.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Raymond James started coverage on shares of RBC Bearings in a research note on Friday, June 28th. They issued a “market perform” rating for the company. The Goldman Sachs Group increased their target price on shares of RBC Bearings from $245.00 to $276.00 and gave the company a “neutral” rating in a report on Tuesday, May 28th. Finally, William Blair assumed coverage on shares of RBC Bearings in a report on Wednesday, May 29th. They set an “outperform” rating on the stock. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $287.67.

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.