nVerses Capital LLC Takes Position in RBC Bearings Incorporated (NYSE:RBC)

nVerses Capital LLC acquired a new stake in RBC Bearings Incorporated (NYSE:RBC) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 400 shares of the industrial products company’s stock, valued at approximately $120,000.

A number of other hedge funds have also added to or reduced their stakes in RBC. UMB Bank n.a. lifted its holdings in RBC Bearings by 416.7% in the third quarter. UMB Bank n.a. now owns 93 shares of the industrial products company’s stock valued at $28,000 after buying an additional 75 shares during the period. DT Investment Partners LLC bought a new stake in RBC Bearings in the 2nd quarter worth about $35,000. Opal Wealth Advisors LLC bought a new stake in RBC Bearings in the 2nd quarter worth about $41,000. Benjamin F. Edwards & Company Inc. grew its position in shares of RBC Bearings by 570.8% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 161 shares of the industrial products company’s stock valued at $44,000 after acquiring an additional 137 shares during the period. Finally, Canada Pension Plan Investment Board bought a new position in shares of RBC Bearings during the 2nd quarter valued at approximately $54,000.

RBC Bearings Stock Down 0.7 %

Shares of RBC stock opened at $288.10 on Monday. The company has a market capitalization of $8.33 billion, a price-to-earnings ratio of 45.02, a PEG ratio of 3.21 and a beta of 1.51. RBC Bearings Incorporated has a one year low of $214.14 and a one year high of $309.01. The company’s fifty day moving average price is $289.95 and its 200-day moving average price is $279.55. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.01 and a quick ratio of 1.09.

RBC Bearings (NYSE:RBC) last issued its quarterly earnings data on Friday, August 2nd. The industrial products company reported $2.54 EPS for the quarter, topping 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 business had revenue of $406.30 million during the quarter, compared to analysts’ expectations of $416.65 million. During the same period last year, the company posted $1.98 EPS. The business’s revenue was up 5.0% on a year-over-year basis. Sell-side analysts expect that RBC Bearings Incorporated will post 8.95 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Michael J. Hartnett sold 503 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were 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 of the company’s stock, valued at $93,227,932. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Michael J. Hartnett sold 3,000 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $284.23, for a total transaction of $852,690.00. Following the sale, the chief executive officer now owns 294,120 shares of the company’s stock, valued at approximately $83,597,727.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael J. Hartnett sold 503 shares of the company’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 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 position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 41,327 shares of company stock valued at $11,900,641. Insiders own 2.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on RBC shares. Truist Financial dropped their price target on shares of RBC Bearings from $328.00 to $315.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Raymond James began coverage on shares of RBC Bearings in a research report on Friday, June 28th. They set a “market perform” rating on the stock. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, RBC Bearings has an average 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.