Nicolet Advisory Services LLC Acquires 144 Shares of RBC Bearings Incorporated (NYSE:RBC)

Nicolet Advisory Services LLC boosted its holdings in shares of RBC Bearings Incorporated (NYSE:RBC) by 6.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,413 shares of the industrial products company’s stock after acquiring an additional 144 shares during the quarter. Nicolet Advisory Services LLC’s holdings in RBC Bearings were worth $703,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of RBC. Jennison Associates LLC boosted its position in RBC Bearings by 170.2% in the 3rd quarter. Jennison Associates LLC now owns 118,240 shares of the industrial products company’s stock valued at $35,399,000 after buying an additional 74,474 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of RBC Bearings by 22.7% during the second quarter. Dimensional Fund Advisors LP now owns 347,030 shares of the industrial products company’s stock valued at $93,626,000 after acquiring an additional 64,217 shares in the last quarter. American Century Companies Inc. grew its stake in RBC Bearings by 30.4% in the second quarter. American Century Companies Inc. now owns 206,630 shares of the industrial products company’s stock worth $55,745,000 after purchasing an additional 48,209 shares in the last quarter. Douglas Lane & Associates LLC increased its holdings in RBC Bearings by 123.9% during the 2nd quarter. Douglas Lane & Associates LLC now owns 81,862 shares of the industrial products company’s stock worth $22,085,000 after purchasing an additional 45,294 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in RBC Bearings during the 2nd quarter worth $11,708,000.

RBC Bearings Price Performance

Shares of RBC stock opened at $336.82 on Friday. The stock’s 50-day moving average is $297.72 and its 200 day moving average is $288.43. RBC Bearings Incorporated has a 1-year low of $240.36 and a 1-year high of $337.19. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.48 and a quick ratio of 1.28. The company has a market cap of $10.58 billion, a P/E ratio of 49.17, a PEG ratio of 3.71 and a beta of 1.51.

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 firm had revenue of $397.90 million during 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 quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.07 earnings per share. Research analysts predict that RBC Bearings Incorporated will post 8.94 earnings per share for the current fiscal year.

Insider Buying and Selling at RBC Bearings

In other RBC Bearings news, CEO Michael J. Hartnett sold 11,341 shares of RBC Bearings stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $287.52, for a total transaction of $3,260,764.32. Following the completion of the sale, the chief executive officer now owns 320,053 shares of the company’s stock, valued at approximately $92,021,638.56. The trade was a 3.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Richard J. Edwards sold 4,200 shares of RBC Bearings stock in a transaction dated 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 sale, the vice president now directly owns 12,539 shares of the company’s stock, valued at $3,669,789.13. This trade represents a 25.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,327 shares of company stock worth $11,068,921 over the last three months. Corporate insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.