Lisanti Capital Growth LLC Has $4.10 Million Stake in RBC Bearings Incorporated (NYSE:RBC)

Lisanti Capital Growth LLC increased its holdings in shares of RBC Bearings Incorporated (NYSE:RBC) by 89.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,385 shares of the industrial products company’s stock after purchasing an additional 6,780 shares during the quarter. Lisanti Capital Growth LLC’s holdings in RBC Bearings were worth $4,098,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. LWM Advisory Services LLC acquired a new position in RBC Bearings during the third quarter worth $31,000. Operose Advisors LLC bought a new position in shares of RBC Bearings in the third quarter valued at about $45,000. GAMMA Investing LLC bought a new position in shares of RBC Bearings in the fourth quarter valued at about $66,000. RiverPark Advisors LLC bought a new position in shares of RBC Bearings in the third quarter valued at about $69,000. Finally, Fifth Third Bancorp raised its position in shares of RBC Bearings by 14.3% in the third quarter. Fifth Third Bancorp now owns 423 shares of the industrial products company’s stock valued at $99,000 after purchasing an additional 53 shares during the period.

RBC Bearings Price Performance

RBC Bearings stock traded up $8.60 during trading hours on Monday, reaching $258.59. 151,912 shares of the stock were exchanged, compared to its average volume of 125,822. The company has a market cap of $7.29 billion, a P/E ratio of 43.24, a price-to-earnings-growth ratio of 4.76 and a beta of 1.46. The company has a current ratio of 3.28, a quick ratio of 1.12 and a debt-to-equity ratio of 0.47. RBC Bearings Incorporated has a twelve month low of $195.18 and a twelve month high of $288.16. The stock has a 50 day moving average of $260.39 and a two-hundred day moving average of $259.14.

RBC Bearings (NYSE:RBC) last announced its quarterly earnings data on Thursday, February 8th. The industrial products company reported $1.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.83 by ($0.08). RBC Bearings had a return on equity of 9.64% and a net margin of 12.81%. The firm had revenue of $373.91 million for the quarter, compared to analyst estimates of $376.61 million. Equities analysts expect that RBC Bearings Incorporated will post 8.02 EPS for the current fiscal year.

Insider Activity

In other news, COO Daniel A. Bergeron sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $267.22, for a total value of $4,008,300.00. Following the sale, the chief operating officer now directly owns 121,935 shares in the company, valued at approximately $32,583,470.70. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on RBC. Citigroup raised their price target on shares of RBC Bearings from $250.00 to $285.00 and gave the stock a “neutral” rating in a research report on Monday, February 12th. Truist Financial raised their price target on shares of RBC Bearings from $271.00 to $309.00 and gave the stock a “buy” rating in a research report on Wednesday, January 10th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $275.86.

RBC Bearings Profile

RBC Bearings Incorporated manufactures and markets engineered precision bearings and components 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.