MetLife Investment Management LLC Has $4.49 Million Stock Holdings in RBC Bearings Incorporated (NYSE:RBC)

MetLife Investment Management LLC trimmed its position in shares of RBC Bearings Incorporated (NYSE:RBC) by 1.8% during the third quarter, HoldingsChannel reports. The firm owned 15,007 shares of the industrial products company’s stock after selling 274 shares during the quarter. MetLife Investment Management LLC’s holdings in RBC Bearings were worth $4,493,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. CWM LLC lifted its holdings in RBC Bearings by 41.3% during the second 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 in the last quarter. TimesSquare Capital Management LLC grew its position in shares of RBC Bearings by 17.3% in 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 purchasing an additional 13,395 shares during the period. Segall Bryant & Hamill LLC increased its stake in RBC Bearings by 41.6% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 29,715 shares of the industrial products company’s stock worth $8,896,000 after purchasing an additional 8,725 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in RBC Bearings during the 2nd quarter worth approximately $2,380,000. Finally, Loomis Sayles & Co. L P lifted its stake in RBC Bearings by 2.7% in the third quarter. Loomis Sayles & Co. L P now owns 283,437 shares of the industrial products company’s stock valued at $84,856,000 after buying an additional 7,380 shares in the last quarter.

Insider Buying and Selling at RBC Bearings

In other news, CEO Michael J. Hartnett sold 11,341 shares of the firm’s 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 sale, the chief executive officer now directly owns 320,053 shares of the company’s stock, valued at $92,021,638.56. This trade represents a 3.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders sold a total of 34,127 shares of company stock worth $9,839,707 over the last quarter. 2.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on RBC. Truist Financial increased their price objective on shares of RBC Bearings from $315.00 to $347.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. KeyCorp upgraded RBC Bearings from a “sector weight” rating to an “overweight” rating and set a $375.00 target price for the company in a report on Friday, November 22nd. Bank of America lowered RBC Bearings from a “buy” rating to a “neutral” rating and boosted their price target for the company from $330.00 to $335.00 in a report on Thursday, November 21st. Finally, William Blair reaffirmed an “outperform” rating on shares of RBC Bearings in a research report on Tuesday, November 26th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, RBC Bearings currently has a consensus rating of “Moderate Buy” and a consensus price target of $324.67.

RBC Bearings Price Performance

NYSE:RBC opened at $335.11 on Monday. RBC Bearings Incorporated has a 52-week low of $240.36 and a 52-week high of $343.92. The company has a market cap of $10.53 billion, a P/E ratio of 48.92, a P/E/G ratio of 4.60 and a beta of 1.51. 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 stock’s 50-day simple moving average is $302.31 and its 200 day simple moving average is $290.87.

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