Greenhouse Funds LLLP Boosts Stock Position in RBC Bearings Incorporated $RBC

Greenhouse Funds LLLP raised its stake in RBC Bearings Incorporated (NYSE:RBC) by 28.0% during the 2nd quarter, HoldingsChannel reports. The firm owned 227,434 shares of the industrial products company’s stock after acquiring an additional 49,773 shares during the period. RBC Bearings accounts for 3.6% of Greenhouse Funds LLLP’s portfolio, making the stock its 11th biggest position. Greenhouse Funds LLLP’s holdings in RBC Bearings were worth $87,517,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Maren Capital LLC grew its position in RBC Bearings by 1.8% in the 2nd quarter. Maren Capital LLC now owns 428,546 shares of the industrial products company’s stock valued at $164,905,000 after buying an additional 7,600 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of RBC Bearings in the 2nd quarter worth $947,000. Edgestream Partners L.P. acquired a new stake in shares of RBC Bearings in the 2nd quarter worth $2,253,000. Lido Advisors LLC purchased a new stake in shares of RBC Bearings in the second quarter valued at about $250,000. Finally, Norges Bank acquired a new position in shares of RBC Bearings during the second quarter worth about $137,078,000.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Truist Financial restated a “buy” rating and issued a $471.00 price objective (up previously from $455.00) on shares of RBC Bearings in a research report on Monday, November 3rd. Zacks Research cut RBC Bearings from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Bank of America upgraded RBC Bearings from a “neutral” rating to a “buy” rating and lifted their price target for the company from $390.00 to $500.00 in a research note on Thursday, November 6th. Weiss Ratings reiterated a “buy (b-)” rating on shares of RBC Bearings in a research report on Monday. Finally, Deutsche Bank Aktiengesellschaft set a $503.00 target price on shares of RBC Bearings and gave the stock a “buy” rating in a research report on Wednesday, October 8th. 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, RBC Bearings presently has an average rating of “Moderate Buy” and an average price target of $459.17.

Insider Activity

In other RBC Bearings news, VP John J. Feeney sold 105 shares of the firm’s stock in a transaction on Friday, September 26th. The stock was sold at an average price of $382.83, for a total transaction of $40,197.15. Following the completion of the transaction, the vice president owned 2,666 shares of the company’s stock, valued at approximately $1,020,624.78. This trade represents a 3.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Steven H. Kaplan sold 700 shares of the business’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $443.00, for a total value of $310,100.00. Following the completion of the transaction, the director directly owned 1,999 shares of the company’s stock, valued at approximately $885,557. This trade represents a 25.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.90% of the stock is owned by corporate insiders.

RBC Bearings Stock Down 0.3%

RBC opened at $440.44 on Wednesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.33 and a current ratio of 3.33. The company has a market cap of $13.92 billion, a price-to-earnings ratio of 55.47, a PEG ratio of 3.16 and a beta of 1.73. RBC Bearings Incorporated has a one year low of $290.56 and a one year high of $449.60. The business’s fifty day moving average is $409.01 and its two-hundred day moving average is $392.97.

RBC Bearings (NYSE:RBC) last released its quarterly earnings results on Monday, August 15th. The industrial products company reported $1.22 earnings per share (EPS) for the quarter. RBC Bearings had a return on equity of 10.14% and a net margin of 15.20%.The business had revenue of $156.21 million during the quarter. Analysts anticipate that RBC Bearings Incorporated will post 9.16 EPS for the current fiscal year.

RBC Bearings 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.