Mountain Pacific Investment Advisers LLC Sells 70,184 Shares of RBC Bearings Incorporated $RBC

Mountain Pacific Investment Advisers LLC cut its stake in shares of RBC Bearings Incorporated (NYSE:RBC) by 78.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 19,470 shares of the industrial products company’s stock after selling 70,184 shares during the period. RBC Bearings comprises 1.2% of Mountain Pacific Investment Advisers LLC’s portfolio, making the stock its 24th biggest holding. Mountain Pacific Investment Advisers LLC’s holdings in RBC Bearings were worth $7,599,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Advisors Asset Management Inc. bought a new position in shares of RBC Bearings during the 1st quarter valued at about $26,000. Root Financial Partners LLC purchased a new stake in RBC Bearings in the third quarter worth approximately $36,000. Hantz Financial Services Inc. grew its position in RBC Bearings by 1,257.1% during the second quarter. Hantz Financial Services Inc. now owns 95 shares of the industrial products company’s stock valued at $37,000 after acquiring an additional 88 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of RBC Bearings by 123.3% during the second quarter. EverSource Wealth Advisors LLC now owns 96 shares of the industrial products company’s stock worth $37,000 after acquiring an additional 53 shares in the last quarter. Finally, Quent Capital LLC purchased a new position in shares of RBC Bearings during the third quarter worth approximately $38,000.

Insiders Place Their Bets

In other RBC Bearings news, Director Steven H. Kaplan sold 700 shares of the business’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $443.00, for a total transaction of $310,100.00. Following the transaction, the director directly owned 1,999 shares of the company’s stock, valued at approximately $885,557. The trade was a 25.94% 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. 1.90% of the stock is currently owned by company insiders.

RBC Bearings Stock Up 2.0%

NYSE RBC opened at $505.11 on Thursday. RBC Bearings Incorporated has a 1 year low of $297.28 and a 1 year high of $509.27. The stock has a market capitalization of $15.97 billion, a PE ratio of 61.67, a PEG ratio of 3.30 and a beta of 1.53. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.18 and a quick ratio of 1.13. The business’s 50-day moving average is $456.32 and its 200 day moving average is $415.43.

RBC Bearings (NYSE:RBC) last released its quarterly earnings results on Friday, October 31st. The industrial products company reported $2.88 EPS for the quarter, beating analysts’ consensus estimates of $2.73 by $0.15. The business had revenue of $455.30 million during the quarter, compared to analyst estimates of $450.27 million. RBC Bearings had a return on equity of 10.47% and a net margin of 15.03%.RBC Bearings’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.29 EPS. Sell-side analysts forecast that RBC Bearings Incorporated will post 9.16 earnings per share for the current year.

Analyst Upgrades and Downgrades

RBC has been the topic of several recent research reports. KeyCorp increased their target price on shares of RBC Bearings from $475.00 to $535.00 and gave the company an “overweight” rating in a report on Tuesday, January 6th. Zacks Research cut RBC Bearings from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Weiss Ratings reiterated a “buy (b-)” rating on shares of RBC Bearings in a report on Monday, December 22nd. Deutsche Bank Aktiengesellschaft set a $527.00 target price on RBC Bearings and gave the company a “buy” rating in a report on Wednesday, December 17th. Finally, Truist Financial set a $542.00 price target on RBC Bearings in a research note on Friday, January 9th. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $489.17.

RBC Bearings Profile

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.