American Capital Management Inc. Sells 1,627 Shares of RBC Bearings Incorporated (NYSE:RBC)

American Capital Management Inc. cut its holdings in RBC Bearings Incorporated (NYSE:RBC) by 0.7% in the third quarter, Holdings Channel reports. The fund owned 217,666 shares of the industrial products company’s stock after selling 1,627 shares during the quarter. RBC Bearings accounts for approximately 2.1% of American Capital Management Inc.’s portfolio, making the stock its 20th largest position. American Capital Management Inc.’s holdings in RBC Bearings were worth $65,165,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the business. UMB Bank n.a. increased its holdings in shares of RBC Bearings by 416.7% in the 3rd quarter. UMB Bank n.a. now owns 93 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 75 shares during the period. DT Investment Partners LLC purchased a new position in shares of RBC Bearings in the 2nd quarter worth approximately $35,000. Opal Wealth Advisors LLC purchased a new position in RBC Bearings in the second quarter worth $41,000. Canada Pension Plan Investment Board purchased a new position in RBC Bearings during the 2nd quarter worth $54,000. Finally, Blue Trust Inc. increased its position in RBC Bearings by 541.9% during the 3rd quarter. Blue Trust Inc. now owns 276 shares of the industrial products company’s stock valued at $83,000 after buying an additional 233 shares in the last quarter.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. William Blair restated an “outperform” rating on shares of RBC Bearings in a research note on Tuesday, November 26th. Truist Financial raised their price target on shares of RBC Bearings from $315.00 to $347.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Bank of America downgraded shares of RBC Bearings from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $330.00 to $335.00 in a research note on Thursday, November 21st. Finally, KeyCorp raised RBC Bearings from a “sector weight” rating to an “overweight” rating and set a $375.00 target price on the stock in a research report on Friday, November 22nd. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, RBC Bearings has a consensus rating of “Moderate Buy” and an average price target of $324.67.

RBC Bearings Price Performance

Shares of NYSE RBC opened at $335.11 on Friday. 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 firm’s 50 day simple moving average is $302.31 and its 200-day simple moving average is $290.74. RBC Bearings Incorporated has a 12 month low of $240.36 and a 12 month high of $343.92. The stock has a market capitalization of $10.53 billion, a price-to-earnings ratio of 48.92, a PEG ratio of 4.60 and a beta of 1.51.

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

Insiders Place Their Bets

In other news, CEO Michael J. Hartnett sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $284.23, for a total value of $852,690.00. Following the completion of the sale, the chief executive officer now directly owns 294,120 shares in the company, valued at $83,597,727.60. The trade was a 1.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders have sold 34,127 shares of company stock worth $9,839,707. 2.60% of the stock is owned by corporate insiders.

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.