RBC Bearings Incorporated $RBC Shares Bought by SG Americas Securities LLC

SG Americas Securities LLC grew its holdings in RBC Bearings Incorporated (NYSE:RBC) by 87.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,879 shares of the industrial products company’s stock after purchasing an additional 2,749 shares during the quarter. SG Americas Securities LLC’s holdings in RBC Bearings were worth $2,295,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Advisors Asset Management Inc. acquired a new stake in RBC Bearings during the 1st quarter valued at $26,000. Hantz Financial Services Inc. lifted its position in shares of RBC Bearings by 1,257.1% in the second quarter. Hantz Financial Services Inc. now owns 95 shares of the industrial products company’s stock valued at $37,000 after acquiring an additional 88 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of RBC Bearings by 123.3% during the second quarter. EverSource Wealth Advisors LLC now owns 96 shares of the industrial products company’s stock valued at $37,000 after acquiring an additional 53 shares during the last quarter. AlphaQuest LLC purchased a new stake in RBC Bearings during the 2nd quarter worth about $83,000. Finally, IFP Advisors Inc increased its position in RBC Bearings by 51.6% during the 2nd quarter. IFP Advisors Inc now owns 291 shares of the industrial products company’s stock worth $112,000 after purchasing an additional 99 shares in the last quarter.

Insider Transactions at RBC Bearings

In related news, Director Steven H. Kaplan sold 700 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $443.00, for a total value of $310,100.00. Following the transaction, the director owned 1,999 shares in the company, valued at approximately $885,557. This trade represents a 25.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.90% of the company’s stock.

RBC Bearings Stock Up 0.3%

Shares of NYSE RBC opened at $489.85 on Wednesday. The stock has a market capitalization of $15.48 billion, a PE ratio of 59.81, a P/E/G ratio of 3.27 and a beta of 1.53. The company has a quick ratio of 1.13, a current ratio of 3.18 and a debt-to-equity ratio of 0.34. The firm has a fifty day moving average of $449.18 and a 200-day moving average of $410.91. RBC Bearings Incorporated has a 52-week low of $297.28 and a 52-week high of $493.13.

RBC Bearings (NYSE:RBC) last posted its quarterly earnings results on Friday, October 31st. The industrial products company reported $2.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.73 by $0.15. The firm had revenue of $455.30 million during the quarter, compared to the consensus estimate of $450.27 million. RBC Bearings had a return on equity of 10.47% and a net margin of 15.03%.The firm’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.29 earnings per share. On average, analysts anticipate that RBC Bearings Incorporated will post 9.16 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on RBC shares. Truist Financial set a $542.00 price target on shares of RBC Bearings in a research note on Friday. Deutsche Bank Aktiengesellschaft set a $527.00 target price on shares of RBC Bearings and gave the stock a “buy” rating in a research report on Wednesday, December 17th. Weiss Ratings reiterated a “buy (b-)” rating on shares of RBC Bearings in a report on Monday, December 22nd. Zacks Research cut RBC Bearings from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Finally, KeyCorp upped their target price on RBC Bearings from $475.00 to $535.00 and gave the company an “overweight” rating in a research note on Tuesday, January 6th. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $489.17.

About RBC Bearings

RBC Bearings Incorporated is a global designer, manufacturer and marketer of highly engineered precision bearings and components for extreme applications. The company’s product portfolio includes cylindrical roller bearings, spherical plain bearings, ball bearings, track rollers, and engineered components such as metal-to-metal and polymer bearings. These products are tailored to meet the demanding requirements of aerospace, defense and industrial customers where reliability under severe conditions is critical.

The company’s bearings and components find application in aircraft engines, auxiliary power units, landing gear systems, space and missile programs, industrial gas turbines, oil and gas drilling equipment, and heavy machinery.