RBC Bearings Incorporated $RBC Shares Sold by Conestoga Capital Advisors LLC

Conestoga Capital Advisors LLC decreased its holdings in RBC Bearings Incorporated (NYSE:RBC) by 20.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 260,559 shares of the industrial products company’s stock after selling 66,930 shares during the quarter. RBC Bearings makes up 3.9% of Conestoga Capital Advisors LLC’s portfolio, making the stock its 5th biggest position. Conestoga Capital Advisors LLC’s holdings in RBC Bearings were worth $130,079,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Assetmark Inc. boosted its holdings in RBC Bearings by 3.5% in the first quarter. Assetmark Inc. now owns 557 shares of the industrial products company’s stock valued at $303,000 after purchasing an additional 19 shares during the last quarter. Millstone Evans Group LLC grew its stake in RBC Bearings by 45.3% during the 1st quarter. Millstone Evans Group LLC now owns 77 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 24 shares in the last quarter. Net Worth Advisory Group increased its holdings in RBC Bearings by 4.5% during the 3rd quarter. Net Worth Advisory Group now owns 552 shares of the industrial products company’s stock worth $281,000 after purchasing an additional 24 shares during the last quarter. Oregon Public Employees Retirement Fund increased its holdings in RBC Bearings by 0.4% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 6,540 shares of the industrial products company’s stock worth $3,265,000 after purchasing an additional 28 shares during the last quarter. Finally, Wedmont Private Capital increased its holdings in RBC Bearings by 5.0% during the 2nd quarter. Wedmont Private Capital now owns 667 shares of the industrial products company’s stock worth $397,000 after purchasing an additional 32 shares during the last quarter.

RBC Bearings Trading Down 3.6%

NYSE RBC opened at $478.21 on Thursday. RBC Bearings Incorporated has a one year low of $418.05 and a one year high of $667.69. The company has a 50-day simple moving average of $495.07 and a 200-day simple moving average of $551.03. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.16 and a current ratio of 3.13. The firm has a market capitalization of $15.14 billion, a PE ratio of 42.77, a price-to-earnings-growth ratio of 2.67 and a beta of 1.39.

RBC Bearings (NYSE:RBC) last issued its earnings results on Friday, October 30th. The industrial products company reported $3.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.53 by $0.21. RBC Bearings had a net margin of 17.51% and a return on equity of 12.50%. The firm had revenue of $524.60 million for the quarter, compared to analysts’ expectations of $513.95 million. During the same quarter last year, the company posted $2.88 earnings per share. RBC Bearings’s revenue was up 15.2% on a year-over-year basis. On average, equities analysts forecast that RBC Bearings Incorporated will post 14.03 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on RBC shares. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $686.00 target price on shares of RBC Bearings in a research report on Tuesday, August 4th. Weiss Ratings downgraded shares of RBC Bearings from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, August 27th. Morgan Stanley dropped their price target on shares of RBC Bearings from $655.00 to $600.00 and set an “overweight” rating for the company in a research note on Monday. Truist Financial upped their price target on shares of RBC Bearings from $615.00 to $646.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $530.00 price target on shares of RBC Bearings in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $609.67.

About RBC Bearings

RBC Bearings Incorporated is a manufacturer of highly engineered bearing and motion-control products. Founded in 1919 and headquartered in Oxford, Connecticut, the company serves original equipment manufacturers and aftermarket customers that require components designed for demanding operating environments.

Its product portfolio includes plain bearings, roller bearings, ball bearings, rod ends, spherical bearings, thrust bearings, and related precision components. These products are used in applications involving load support, friction reduction, positioning, and motion control across aerospace and defense, industrial equipment, construction, transportation, energy, and other specialized markets.

RBC Bearings sells its products through a combination of direct sales, distributors, and customer-specific manufacturing programs.