B. Metzler seel. Sohn & Co. Holding AG Makes New Investment in RBC Bearings Incorporated (NYSE:RBC)

B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of RBC Bearings Incorporated (NYSE:RBC) during the 3rd quarter, Holdings Channel.com reports. The firm acquired 10,465 shares of the industrial products company’s stock, valued at approximately $3,133,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Russell Investments Group Ltd. lifted its stake in RBC Bearings by 31.2% in the first quarter. Russell Investments Group Ltd. now owns 3,248 shares of the industrial products company’s stock valued at $878,000 after buying an additional 772 shares in the last quarter. Vanguard Group Inc. lifted its position in RBC Bearings by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 2,731,398 shares of the industrial products company’s stock valued at $738,433,000 after acquiring an additional 19,574 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in RBC Bearings by 1.3% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 16,303 shares of the industrial products company’s stock worth $4,404,000 after purchasing an additional 203 shares during the period. EntryPoint Capital LLC bought a new position in RBC Bearings during the 1st quarter worth about $80,000. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of RBC Bearings by 1.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,095,607 shares of the industrial products company’s stock valued at $566,549,000 after purchasing an additional 20,491 shares during the period.

RBC Bearings Trading Up 0.6 %

Shares of NYSE:RBC opened at $324.43 on Thursday. The company’s 50-day moving average price is $295.97 and its two-hundred day moving average price is $287.44. RBC Bearings Incorporated has a one year low of $239.23 and a one year high of $328.39. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.48 and a quick ratio of 1.28. The stock has a market capitalization of $10.19 billion, a PE ratio of 47.36, a price-to-earnings-growth ratio of 3.59 and a beta of 1.51.

RBC Bearings (NYSE:RBC) last released its earnings results on Friday, November 1st. The industrial products company reported $2.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.01). The company had revenue of $397.90 million for the quarter, compared to the consensus estimate of $403.89 million. RBC Bearings had a return on equity of 9.88% and a net margin of 14.06%. The business’s revenue was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.07 EPS. On average, equities analysts forecast that RBC Bearings Incorporated will post 8.94 EPS for the current fiscal year.

Insider Transactions at RBC Bearings

In other news, CEO Michael J. Hartnett sold 503 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $289.00, for a total transaction of $145,367.00. Following the transaction, the chief executive officer now directly owns 322,588 shares in the company, valued at $93,227,932. The trade was a 0.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Richard J. Edwards sold 4,200 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $292.67, for a total transaction of $1,229,214.00. Following the completion of the sale, the vice president now directly owns 12,539 shares in the company, valued at approximately $3,669,789.13. The trade was a 25.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,327 shares of company stock worth $11,068,921 in the last 90 days. Corporate insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Truist Financial increased their price objective on RBC Bearings from $315.00 to $347.00 and gave the stock a “buy” rating in a report on Wednesday. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, RBC Bearings currently has a consensus rating of “Moderate Buy” and a consensus price target of $303.60.

About RBC Bearings

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.