Curi RMB Capital LLC Has $15.54 Million Stock Position in RBC Bearings Incorporated (NYSE:RBC)

Curi RMB Capital LLC increased its position in shares of RBC Bearings Incorporated (NYSE:RBC) by 2.6% during the third quarter, Holdings Channel reports. The fund owned 51,905 shares of the industrial products company’s stock after acquiring an additional 1,309 shares during the quarter. Curi RMB Capital LLC’s holdings in RBC Bearings were worth $15,539,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of RBC Bearings by 1.0% in 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 in the last quarter. Vanguard Group Inc. boosted 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 acquiring an additional 19,574 shares during the period. CWM LLC boosted its position in RBC Bearings by 41.3% during the 2nd quarter. CWM LLC now owns 10,436 shares of the industrial products company’s stock worth $2,815,000 after acquiring an additional 3,051 shares during the period. TimesSquare Capital Management LLC grew its stake in RBC Bearings by 17.3% during the 3rd quarter. TimesSquare Capital Management LLC now owns 90,605 shares of the industrial products company’s stock valued at $27,125,000 after acquiring an additional 13,395 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of RBC Bearings in the 2nd quarter valued at about $2,380,000.

Insider Transactions at RBC Bearings

In related news, VP Richard J. Edwards sold 4,200 shares of the firm’s 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 transaction, the vice president now directly owns 12,539 shares of the company’s stock, valued at approximately $3,669,789.13. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related 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 transaction 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael J. Hartnett sold 11,341 shares of RBC Bearings stock in a transaction that occurred on Monday, September 16th. The stock was 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 directly owns 320,053 shares in the company, valued at approximately $92,021,638.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,327 shares of company stock worth $11,068,921. 2.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, Truist Financial lowered their price objective on shares of RBC Bearings from $328.00 to $315.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, RBC Bearings currently has a consensus rating of “Moderate Buy” and an average price target of $297.20.

RBC Bearings Stock Up 0.1 %

Shares of RBC Bearings stock opened at $315.69 on Thursday. The firm has a market cap of $9.92 billion, a price-to-earnings ratio of 46.09, a P/E/G ratio of 3.61 and a beta of 1.51. The stock has a 50-day simple moving average of $292.47 and a 200-day simple moving average of $284.97. RBC Bearings Incorporated has a 52-week low of $236.00 and a 52-week high of $328.39. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.48 and a quick ratio of 1.28.

RBC Bearings (NYSE:RBC) last released its quarterly earnings results on Friday, November 1st. The industrial products company reported $2.29 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.01). The business had revenue of $397.90 million for the quarter, compared to the consensus estimate of $403.89 million. RBC Bearings had a net margin of 14.06% and a return on equity of 9.88%. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.07 EPS. On average, equities research analysts expect that RBC Bearings Incorporated will post 8.94 earnings per share for the current fiscal year.

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.