Mountain Pacific Investment Advisers Inc. ID Boosts Stock Position in RBC Bearings Incorporated (NYSE:RBC)

Mountain Pacific Investment Advisers Inc. ID boosted its position in RBC Bearings Incorporated (NYSE:RBC) by 0.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 114,188 shares of the industrial products company’s stock after purchasing an additional 229 shares during the quarter. RBC Bearings makes up approximately 2.0% of Mountain Pacific Investment Advisers Inc. ID’s investment portfolio, making the stock its 20th largest holding. Mountain Pacific Investment Advisers Inc. ID owned about 0.39% of RBC Bearings worth $32,531,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Global Retirement Partners LLC increased its position in shares of RBC Bearings by 16.1% during the third quarter. Global Retirement Partners LLC now owns 383 shares of the industrial products company’s stock worth $90,000 after purchasing an additional 53 shares in the last quarter. SG Americas Securities LLC raised its position in shares of RBC Bearings by 123.8% in the 3rd quarter. SG Americas Securities LLC now owns 3,059 shares of the industrial products company’s stock valued at $716,000 after purchasing an additional 1,692 shares during the last quarter. State of Alaska Department of Revenue acquired a new stake in RBC Bearings in the 3rd quarter worth approximately $807,000. DAVENPORT & Co LLC grew its position in RBC Bearings by 0.9% during the 3rd quarter. DAVENPORT & Co LLC now owns 7,018 shares of the industrial products company’s stock worth $1,643,000 after purchasing an additional 63 shares during the last quarter. Finally, Oak Thistle LLC purchased a new stake in shares of RBC Bearings during the third quarter valued at $721,000.

Insider Transactions at RBC Bearings

In related news, COO Daniel A. Bergeron sold 15,000 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $267.22, for a total transaction of $4,008,300.00. Following the completion of the sale, the chief operating officer now owns 121,935 shares of the company’s stock, valued at approximately $32,583,470.70. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.90% of the company’s stock.

RBC Bearings Stock Up 0.3 %

Shares of NYSE RBC opened at $245.03 on Friday. RBC Bearings Incorporated has a 52-week low of $195.18 and a 52-week high of $288.16. The company has a quick ratio of 1.12, a current ratio of 3.28 and a debt-to-equity ratio of 0.47. The company’s 50-day simple moving average is $262.59 and its 200-day simple moving average is $258.53. The firm has a market cap of $6.91 billion, a price-to-earnings ratio of 40.97, a price-to-earnings-growth ratio of 4.66 and a beta of 1.45.

RBC Bearings (NYSE:RBC) last issued its quarterly earnings results on Thursday, February 8th. The industrial products company reported $1.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.83 by ($0.08). RBC Bearings had a return on equity of 9.64% and a net margin of 12.81%. The firm had revenue of $373.91 million during the quarter, compared to analyst estimates of $376.61 million. Equities analysts predict that RBC Bearings Incorporated will post 8.02 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on RBC. Truist Financial lifted their price target on RBC Bearings from $271.00 to $309.00 and gave the stock a “buy” rating in a research report on Wednesday, January 10th. Citigroup upped their price target on shares of RBC Bearings from $250.00 to $285.00 and gave the company a “neutral” rating in a report on Monday, February 12th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $275.86.

RBC Bearings Profile

RBC Bearings Incorporated manufactures and markets engineered precision bearings and components 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.