Dynamic Technology Lab Private Ltd Boosts Holdings in RBC Bearings Incorporated (NYSE:RBC)

Dynamic Technology Lab Private Ltd lifted its stake in shares of RBC Bearings Incorporated (NYSE:RBC) by 18.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,957 shares of the industrial products company’s stock after acquiring an additional 471 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in RBC Bearings were worth $885,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of RBC. B. Riley Wealth Advisors Inc. raised its stake in RBC Bearings by 60.0% during the first quarter. B. Riley Wealth Advisors Inc. now owns 1,195 shares of the industrial products company’s stock worth $323,000 after purchasing an additional 448 shares during the period. Comerica Bank raised its position in shares of RBC Bearings by 2.7% in the 1st quarter. Comerica Bank now owns 70,324 shares of the industrial products company’s stock worth $19,012,000 after buying an additional 1,836 shares during the period. Atria Investments Inc boosted its holdings in RBC Bearings by 3.1% in the first quarter. Atria Investments Inc now owns 4,882 shares of the industrial products company’s stock valued at $1,320,000 after acquiring an additional 145 shares during the last quarter. Keynote Financial Services LLC purchased a new stake in RBC Bearings during the first quarter valued at about $218,000. Finally, GAMMA Investing LLC increased its stake in RBC Bearings by 36.8% during the second quarter. GAMMA Investing LLC now owns 357 shares of the industrial products company’s stock worth $96,000 after acquiring an additional 96 shares during the last quarter.

Insiders Place Their Bets

In other news, CEO Michael J. Hartnett sold 3,000 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $284.23, for a total transaction of $852,690.00. Following the sale, the chief executive officer now directly owns 294,120 shares in the company, valued at approximately $83,597,727.60. This represents a 1.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 34,127 shares of company stock valued at $9,839,707 over the last quarter. Insiders own 2.60% of the company’s stock.

RBC Bearings Price Performance

Shares of NYSE RBC opened at $339.66 on Thursday. The business has a 50 day simple moving average of $299.76 and a 200-day simple moving average of $289.58. RBC Bearings Incorporated has a twelve month low of $240.36 and a twelve month high of $343.66. The company has a market capitalization of $10.67 billion, a price-to-earnings ratio of 49.59, a price-to-earnings-growth ratio of 4.66 and a beta of 1.51. The company has a current ratio of 3.48, a quick ratio of 1.28 and a debt-to-equity ratio of 0.38.

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on RBC shares. KeyCorp raised RBC Bearings from a “sector weight” rating to an “overweight” rating and set a $375.00 price objective on the stock in a research note on Friday, November 22nd. Bank of America cut shares of RBC Bearings from a “buy” rating to a “neutral” rating and upped their price objective for the company from $330.00 to $335.00 in a research report on Thursday, November 21st. Truist Financial lifted their target price on RBC Bearings from $315.00 to $347.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Finally, William Blair reissued an “outperform” rating on shares of RBC Bearings in a report on Tuesday. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $324.67.

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.