Centaurus Financial Inc. Purchases 1,995 Shares of RBC Bearings Incorporated (NYSE:RBC)

Centaurus Financial Inc. increased its position in RBC Bearings Incorporated (NYSE:RBC) by 233.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,851 shares of the industrial products company’s stock after acquiring an additional 1,995 shares during the quarter. Centaurus Financial Inc.’s holdings in RBC Bearings were worth $854,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. CWM LLC grew its stake in shares of RBC Bearings by 41.3% during the 2nd quarter. CWM LLC now owns 10,436 shares of the industrial products company’s stock valued at $2,815,000 after purchasing an additional 3,051 shares during the period. TimesSquare Capital Management LLC grew its position in RBC Bearings by 17.3% during the third quarter. TimesSquare Capital Management LLC now owns 90,605 shares of the industrial products company’s stock valued at $27,125,000 after buying an additional 13,395 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in RBC Bearings during the second quarter valued at approximately $2,380,000. Segall Bryant & Hamill LLC raised its position in RBC Bearings by 41.6% in the third quarter. Segall Bryant & Hamill LLC now owns 29,715 shares of the industrial products company’s stock worth $8,896,000 after acquiring an additional 8,725 shares during the period. Finally, Geneva Capital Management LLC boosted its stake in shares of RBC Bearings by 1.4% during the 3rd quarter. Geneva Capital Management LLC now owns 590,650 shares of the industrial products company’s stock worth $176,829,000 after acquiring an additional 8,012 shares during the last quarter.

Wall Street Analysts Forecast Growth

RBC has been the subject of several analyst reports. KeyCorp upgraded RBC Bearings from a “sector weight” rating to an “overweight” rating and set a $375.00 price objective for the company in a research note on Friday. Bank of America cut RBC Bearings from a “buy” rating to a “neutral” rating and upped their price target for the stock from $330.00 to $335.00 in a research report on Thursday, November 21st. Finally, Truist Financial lifted their price objective on RBC Bearings from $315.00 to $347.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, RBC Bearings currently has a consensus rating of “Moderate Buy” and a consensus target price of $324.67.

RBC Bearings Trading Up 0.6 %

Shares of RBC stock opened at $338.85 on Tuesday. 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 has a fifty day simple moving average of $298.76 and a two-hundred day simple moving average of $289.10. The firm has a market capitalization of $10.64 billion, a PE ratio of 49.47, a PEG ratio of 4.63 and a beta of 1.51. RBC Bearings Incorporated has a 52-week low of $240.36 and a 52-week high of $343.66.

RBC Bearings (NYSE:RBC) last issued its earnings results on Friday, November 1st. The industrial products company reported $2.29 earnings per share (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 business had revenue of $397.90 million for the quarter, compared to the consensus estimate of $403.89 million. During the same period last year, the business posted $2.07 EPS. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. On average, analysts predict that RBC Bearings Incorporated will post 8.94 EPS for the current fiscal year.

Insider Activity

In other news, CEO Michael J. Hartnett sold 19,283 shares of RBC Bearings stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $289.42, for a total value of $5,580,885.86. Following the sale, the chief executive officer now directly owns 317,814 shares of the company’s stock, valued at approximately $91,981,727.88. The trade was a 5.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 34,127 shares of company stock worth $9,839,707 over the last quarter. Insiders own 2.60% of the company’s stock.

RBC Bearings Company 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.