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

Natixis Advisors L.P. reduced its holdings in RBC Bearings Incorporated (NYSE:RBC) by 1.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 107,156 shares of the industrial products company’s stock after selling 1,384 shares during the quarter. Natixis Advisors L.P. owned about 0.37% of RBC Bearings worth $30,527,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in RBC. SG Americas Securities LLC increased its stake in shares of RBC Bearings by 123.8% in the 3rd quarter. SG Americas Securities LLC now owns 3,059 shares of the industrial products company’s stock valued at $716,000 after acquiring an additional 1,692 shares in the last quarter. Commonwealth Equity Services LLC increased its stake in RBC Bearings by 26.9% in the third quarter. Commonwealth Equity Services LLC now owns 1,569 shares of the industrial products company’s stock valued at $367,000 after purchasing an additional 333 shares in the last quarter. Xponance Inc. raised its holdings in shares of RBC Bearings by 255.2% during the third quarter. Xponance Inc. now owns 3,445 shares of the industrial products company’s stock valued at $807,000 after purchasing an additional 2,475 shares during the period. Raymond James & Associates boosted its position in shares of RBC Bearings by 0.8% during the 3rd quarter. Raymond James & Associates now owns 161,066 shares of the industrial products company’s stock worth $37,710,000 after purchasing an additional 1,284 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its stake in shares of RBC Bearings by 12.7% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 1,625 shares of the industrial products company’s stock valued at $380,000 after buying an additional 183 shares during the period.

RBC Bearings Stock Performance

Shares of RBC opened at $249.99 on Friday. The firm has a market capitalization of $7.04 billion, a P/E ratio of 41.80, a P/E/G ratio of 4.76 and a beta of 1.46. RBC Bearings Incorporated has a 52 week low of $195.18 and a 52 week high of $288.16. The stock has a 50 day moving average price of $260.39 and a two-hundred day moving average price of $258.88. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.12 and a current ratio of 3.28.

RBC Bearings (NYSE:RBC) last announced its quarterly earnings results on Thursday, February 8th. The industrial products company reported $1.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.83 by ($0.08). RBC Bearings had a return on equity of 9.64% and a net margin of 12.81%. The company had revenue of $373.91 million for the quarter, compared to the consensus estimate of $376.61 million. Equities analysts forecast that RBC Bearings Incorporated will post 8.02 earnings per share for the current fiscal year.

Insider Activity

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 completion of the sale, the chief operating officer now directly owns 121,935 shares of the company’s stock, valued at approximately $32,583,470.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

RBC has been the topic of several recent research reports. Citigroup increased their price target on RBC Bearings from $250.00 to $285.00 and gave the stock a “neutral” rating in a report on Monday, February 12th. Truist Financial increased their target price on RBC Bearings from $271.00 to $309.00 and gave the stock a “buy” rating in a report on Wednesday, January 10th. Two 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 currently 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.