Next Century Growth Investors LLC Sells 4,634 Shares of RBC Bearings Incorporated $RBC

Next Century Growth Investors LLC cut its position in RBC Bearings Incorporated (NYSE:RBC) by 7.6% during the 2nd quarter, HoldingsChannel reports. The firm owned 56,514 shares of the industrial products company’s stock after selling 4,634 shares during the quarter. RBC Bearings comprises about 1.7% of Next Century Growth Investors LLC’s portfolio, making the stock its 16th largest holding. Next Century Growth Investors LLC’s holdings in RBC Bearings were worth $21,747,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in RBC. Artisan Partners Limited Partnership bought a new stake in shares of RBC Bearings in the 2nd quarter valued at $157,190,000. Norges Bank acquired a new position in RBC Bearings in the second quarter valued at about $137,078,000. Nuveen LLC bought a new stake in shares of RBC Bearings in the first quarter worth about $20,847,000. Greenhouse Funds LLLP raised its position in shares of RBC Bearings by 28.0% during the second quarter. Greenhouse Funds LLLP now owns 227,434 shares of the industrial products company’s stock worth $87,517,000 after purchasing an additional 49,773 shares during the period. Finally, Jennison Associates LLC lifted its holdings in shares of RBC Bearings by 101.1% during the 2nd quarter. Jennison Associates LLC now owns 96,742 shares of the industrial products company’s stock valued at $37,226,000 after purchasing an additional 48,628 shares in the last quarter.

RBC Bearings Stock Performance

Shares of NYSE RBC opened at $437.16 on Wednesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.13 and a current ratio of 3.18. The stock has a 50 day moving average price of $414.81 and a 200 day moving average price of $395.56. The stock has a market capitalization of $13.82 billion, a PE ratio of 53.38, a price-to-earnings-growth ratio of 3.13 and a beta of 1.53. RBC Bearings Incorporated has a 52 week low of $290.56 and a 52 week high of $449.60.

RBC Bearings (NYSE:RBC) last announced its quarterly earnings results on Monday, August 15th. The industrial products company reported $1.22 earnings per share for the quarter. RBC Bearings had a return on equity of 10.47% and a net margin of 15.03%.The firm had revenue of $156.21 million for the quarter. Analysts predict that RBC Bearings Incorporated will post 9.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, VP John J. Feeney sold 105 shares of the business’s stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $382.83, for a total value of $40,197.15. Following the completion of the transaction, the vice president owned 2,666 shares of the company’s stock, valued at $1,020,624.78. The trade was a 3.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Steven H. Kaplan sold 700 shares of the stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $443.00, for a total transaction of $310,100.00. Following the sale, the director owned 1,999 shares in the company, valued at $885,557. The trade was a 25.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on RBC shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of RBC Bearings in a research note on Monday. Truist Financial reaffirmed a “buy” rating and issued a $471.00 price objective (up from $455.00) on shares of RBC Bearings in a research report on Monday, November 3rd. Zacks Research lowered shares of RBC Bearings from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Deutsche Bank Aktiengesellschaft set a $503.00 price target on RBC Bearings and gave the company a “buy” rating in a research note on Wednesday, October 8th. Finally, Bank of America raised RBC Bearings from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $390.00 to $500.00 in a research report on Thursday, November 6th. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $459.17.

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.