Bamco Inc. NY Sells 24,539 Shares of RBC Bearings Incorporated $RBC

Bamco Inc. NY cut its stake in shares of RBC Bearings Incorporated (NYSE:RBC) by 7.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 303,110 shares of the industrial products company’s stock after selling 24,539 shares during the quarter. Bamco Inc. NY’s holdings in RBC Bearings were worth $135,924,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in RBC. Advisors Asset Management Inc. bought a new stake in shares of RBC Bearings during the 1st quarter valued at approximately $26,000. SBI Securities Co. Ltd. grew its holdings in shares of RBC Bearings by 106.5% during the 4th quarter. SBI Securities Co. Ltd. now owns 64 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 33 shares during the last quarter. Larson Financial Group LLC grew its holdings in shares of RBC Bearings by 148.5% during the 3rd quarter. Larson Financial Group LLC now owns 82 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 49 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of RBC Bearings during the 4th quarter valued at approximately $35,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of RBC Bearings by 123.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 96 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 53 shares during the last quarter.

Wall Street Analyst Weigh In

Several research firms recently commented on RBC. KeyCorp lifted their target price on shares of RBC Bearings from $595.00 to $680.00 and gave the stock an “overweight” rating in a research report on Monday, March 2nd. Morgan Stanley lifted their target price on shares of RBC Bearings from $600.00 to $640.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 19th. Zacks Research downgraded shares of RBC Bearings from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 3rd. Wall Street Zen upgraded shares of RBC Bearings from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. Finally, Weiss Ratings upgraded shares of RBC Bearings from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, May 19th. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $584.00.

Insider Activity

In other news, Director Edward Stewart sold 600 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $592.83, for a total value of $355,698.00. Following the transaction, the director owned 21,337 shares in the company, valued at approximately $12,649,213.71. The trade was a 2.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.90% of the company’s stock.

RBC Bearings Stock Up 0.6%

Shares of NYSE RBC opened at $625.05 on Thursday. The company has a market capitalization of $19.78 billion, a P/E ratio of 68.76, a price-to-earnings-growth ratio of 3.59 and a beta of 1.42. RBC Bearings Incorporated has a 52-week low of $363.05 and a 52-week high of $632.00. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.78 and a current ratio of 2.18. The company’s 50 day moving average price is $590.40 and its 200-day moving average price is $538.07.

RBC Bearings (NYSE:RBC) last issued its quarterly earnings results on Friday, May 15th. The industrial products company reported $3.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.31 by $0.31. The firm had revenue of $518.00 million for the quarter, compared to the consensus estimate of $505.90 million. RBC Bearings had a net margin of 15.37% and a return on equity of 11.35%. The company’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.83 EPS. Equities analysts forecast that RBC Bearings Incorporated will post 13.58 earnings per share for the current year.

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.