Segall Bryant & Hamill LLC Raises Stock Position in RBC Bearings Incorporated (NYSE:RBC)

Segall Bryant & Hamill LLC increased its holdings in RBC Bearings Incorporated (NYSE:RBC) by 41.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 29,715 shares of the industrial products company’s stock after acquiring an additional 8,725 shares during the period. Segall Bryant & Hamill LLC’s holdings in RBC Bearings were worth $8,896,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. UMB Bank n.a. boosted its position in shares of RBC Bearings by 416.7% during the 3rd quarter. UMB Bank n.a. now owns 93 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 75 shares during the period. DT Investment Partners LLC purchased a new stake in shares of RBC Bearings in the 2nd quarter valued at $35,000. Opal Wealth Advisors LLC acquired a new position in RBC Bearings during the 2nd quarter worth about $41,000. Canada Pension Plan Investment Board purchased a new position in RBC Bearings during the 2nd quarter valued at about $54,000. Finally, Strategic Financial Concepts LLC acquired a new position in RBC Bearings in the 2nd quarter valued at about $68,000.

Analyst Ratings Changes

Several research firms have recently commented on RBC. Bank of America lowered shares of RBC Bearings from a “buy” rating to a “neutral” rating and raised their price objective for the company from $330.00 to $335.00 in a research note on Thursday. Truist Financial raised their price target on shares of RBC Bearings from $315.00 to $347.00 and gave the company a “buy” rating in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, RBC Bearings presently has a consensus rating of “Hold” and an average price target of $314.60.

Insider Activity

In other news, CEO Michael J. Hartnett sold 503 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $289.00, for a total value of $145,367.00. Following the completion of the transaction, the chief executive officer now owns 322,588 shares in the company, valued at approximately $93,227,932. This represents a 0.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Richard J. Edwards sold 4,200 shares of RBC Bearings stock in a transaction 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 owns 12,539 shares in the company, valued at $3,669,789.13. This represents a 25.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,327 shares of company stock worth $11,068,921. 2.60% of the stock is currently owned by insiders.

RBC Bearings Stock Up 0.1 %

Shares of NYSE:RBC opened at $324.82 on Friday. The company has a quick ratio of 1.28, a current ratio of 3.48 and a debt-to-equity ratio of 0.38. RBC Bearings Incorporated has a fifty-two week low of $240.36 and a fifty-two week high of $328.39. The stock has a market cap of $10.20 billion, a price-to-earnings ratio of 47.42, a price-to-earnings-growth ratio of 3.69 and a beta of 1.51. The firm’s 50 day moving average price is $296.74 and its 200 day moving average price is $287.70.

RBC Bearings (NYSE:RBC) last released its quarterly earnings data 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). The firm had revenue of $397.90 million for the quarter, compared to analysts’ expectations of $403.89 million. RBC Bearings had a return on equity of 9.88% and a net margin of 14.06%. RBC Bearings’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same period last year, the firm posted $2.07 earnings per share. As a group, equities research analysts predict that RBC Bearings Incorporated will post 8.94 earnings per share for the current fiscal year.

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.