Marco Investment Management LLC Buys 50 Shares of RBC Bearings Incorporated (NYSE:RBC)

Marco Investment Management LLC lifted its stake in RBC Bearings Incorporated (NYSE:RBC) by 6.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 810 shares of the industrial products company’s stock after acquiring an additional 50 shares during the period. Marco Investment Management LLC’s holdings in RBC Bearings were worth $242,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. UMB Bank n.a. grew its holdings in RBC Bearings by 416.7% during the third quarter. UMB Bank n.a. now owns 93 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 75 shares during the last quarter. DT Investment Partners LLC bought a new stake in shares of RBC Bearings during the 2nd quarter worth $35,000. Opal Wealth Advisors LLC acquired a new position in RBC Bearings in the 2nd quarter valued at $41,000. Canada Pension Plan Investment Board bought a new position in RBC Bearings in the 2nd quarter worth $54,000. Finally, Blue Trust Inc. lifted its position in RBC Bearings by 541.9% during the 3rd quarter. Blue Trust Inc. now owns 276 shares of the industrial products company’s stock worth $83,000 after acquiring an additional 233 shares during the last quarter.

Insider Activity at RBC Bearings

In other RBC Bearings news, VP Richard J. Edwards sold 4,200 shares of RBC Bearings 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 sale, the vice president now directly owns 12,539 shares of the company’s stock, valued at approximately $3,669,789.13. The trade was a 25.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael J. Hartnett sold 3,000 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $284.23, for a total value of $852,690.00. Following the completion of the transaction, the chief executive officer now directly owns 294,120 shares of the company’s stock, valued at approximately $83,597,727.60. The trade was a 1.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,327 shares of company stock worth $11,068,921. 2.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on RBC. Truist Financial raised their price target on RBC Bearings from $315.00 to $347.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Bank of America downgraded RBC Bearings from a “buy” rating to a “neutral” rating and increased their target price for the company from $330.00 to $335.00 in a research note on Thursday. Finally, KeyCorp raised RBC Bearings from a “sector weight” rating to an “overweight” rating and set a $375.00 price target on the stock in a research report on Friday. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, RBC Bearings currently has a consensus rating of “Moderate Buy” and an average price target of $324.67.

RBC Bearings Stock Up 3.8 %

Shares of RBC opened at $336.82 on Monday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.28 and a current ratio of 3.48. The company has a 50-day simple moving average of $297.72 and a 200-day simple moving average of $288.60. RBC Bearings Incorporated has a 52 week low of $240.36 and a 52 week high of $337.19. The firm has a market capitalization of $10.58 billion, a P/E ratio of 49.17, a P/E/G ratio of 4.63 and a beta of 1.51.

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