Natixis Advisors L.P. Sells 1,384 Shares of RBC Bearings Incorporated (NYSE:RBC)

Natixis Advisors L.P. decreased its position in RBC Bearings Incorporated (NYSE:RBC) by 1.3% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 107,156 shares of the industrial products company’s stock after selling 1,384 shares during the period. Natixis Advisors L.P.’s holdings in RBC Bearings were worth $30,527,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in RBC Bearings by 2.2% in the 3rd quarter. Vanguard Group Inc. now owns 2,694,538 shares of the industrial products company’s stock worth $630,872,000 after acquiring an additional 57,510 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of RBC Bearings by 16.1% in the third quarter. JPMorgan Chase & Co. now owns 712,962 shares of the industrial products company’s stock worth $166,926,000 after purchasing an additional 99,066 shares during the last quarter. Conestoga Capital Advisors LLC increased its holdings in RBC Bearings by 0.5% during the 4th quarter. Conestoga Capital Advisors LLC now owns 695,547 shares of the industrial products company’s stock valued at $198,154,000 after purchasing an additional 3,415 shares during the period. Bamco Inc. NY raised its position in RBC Bearings by 0.8% during the 3rd quarter. Bamco Inc. NY now owns 386,570 shares of the industrial products company’s stock valued at $90,508,000 after purchasing an additional 3,084 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in RBC Bearings by 3.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 277,840 shares of the industrial products company’s stock worth $65,051,000 after buying an additional 9,557 shares during the period.

RBC Bearings Trading Down 0.5 %

RBC opened at $249.99 on Friday. The company has a quick ratio of 1.12, a current ratio of 3.28 and a debt-to-equity ratio of 0.47. RBC Bearings Incorporated has a 52 week low of $195.18 and a 52 week high of $288.16. The stock has a market cap of $7.04 billion, a PE ratio of 41.80, a PEG ratio of 4.76 and a beta of 1.46. The business has a 50 day moving average of $260.39 and a 200-day moving average of $258.88.

RBC Bearings (NYSE:RBC) last posted its quarterly earnings data 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 the consensus estimate of $376.61 million. Equities research analysts predict that RBC Bearings Incorporated will post 8.02 earnings per share for the current fiscal year.

Insider Activity at RBC Bearings

In other RBC Bearings 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 value of $4,008,300.00. Following the sale, the chief operating officer now owns 121,935 shares in the company, valued at $32,583,470.70. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Citigroup boosted their target price on RBC Bearings from $250.00 to $285.00 and gave the company a “neutral” rating in a research note on Monday, February 12th. Truist Financial boosted their price objective on shares of RBC Bearings from $271.00 to $309.00 and gave the company a “buy” rating in a research report on Wednesday, January 10th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $275.86.

RBC Bearings Company 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.