Marshall Wace LLP Makes New $244,000 Investment in RBC Bearings Incorporated (NYSE:RBC)

Marshall Wace LLP bought a new position in shares of RBC Bearings Incorporated (NYSE:RBC) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 906 shares of the industrial products company’s stock, valued at approximately $244,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. PNC Financial Services Group Inc. lifted its holdings in shares of RBC Bearings by 0.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,778 shares of the industrial products company’s stock worth $1,646,000 after buying an additional 50 shares in the last quarter. Legacy Advisors LLC lifted its holdings 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 worth $1,223,000 after buying an additional 61 shares in the last quarter. RiverPark Advisors LLC lifted its holdings in shares of RBC Bearings by 9.6% during the second quarter. RiverPark Advisors LLC now owns 993 shares of the industrial products company’s stock worth $268,000 after buying an additional 87 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of RBC Bearings by 36.8% during the second quarter. GAMMA Investing LLC now owns 357 shares of the industrial products company’s stock worth $96,000 after buying an additional 96 shares in the last quarter. Finally, State of Michigan Retirement System lifted its holdings in shares of RBC Bearings by 1.4% during the first quarter. State of Michigan Retirement System now owns 7,100 shares of the industrial products company’s stock worth $1,919,000 after buying an additional 100 shares in the last quarter.

Insider Transactions at RBC Bearings

In other news, VP Richard J. Edwards sold 4,200 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $292.67, for a total transaction of $1,229,214.00. Following the sale, the vice president now directly owns 12,539 shares in the company, valued at approximately $3,669,789.13. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Michael J. Hartnett sold 503 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 322,588 shares in the company, valued at $93,227,932. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,327 shares of company stock worth $11,900,641. Insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

RBC has been the subject of a number of research reports. Raymond James started coverage on RBC Bearings in a report on Friday, June 28th. They set a “market perform” rating for the company. Truist Financial dropped their price target on RBC Bearings from $328.00 to $315.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $287.67.

RBC Bearings Stock Performance

RBC Bearings stock opened at $280.88 on Friday. RBC Bearings Incorporated has a 12-month low of $214.14 and a 12-month high of $309.01. 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 business’s 50-day moving average price is $288.81 and its two-hundred day moving average price is $278.93. The stock has a market cap of $8.21 billion, a PE ratio of 41.43, a P/E/G ratio of 3.22 and a beta of 1.51.

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, beating 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 firm had revenue of $406.30 million for the quarter, compared to analysts’ expectations of $416.65 million. During the same quarter in the previous 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. As a group, analysts expect that RBC Bearings Incorporated will post 8.95 earnings per share for the current fiscal year.

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.