Conestoga Capital Advisors LLC Sells 965 Shares of RBC Bearings Incorporated (NYSE:RBC)

Conestoga Capital Advisors LLC lessened its holdings in shares of RBC Bearings Incorporated (NYSE:RBC) by 0.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 739,877 shares of the industrial products company’s stock after selling 965 shares during the quarter. RBC Bearings accounts for 2.9% of Conestoga Capital Advisors LLC’s portfolio, making the stock its 9th largest position. Conestoga Capital Advisors LLC’s holdings in RBC Bearings were worth $221,327,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. UMB Bank n.a. lifted its holdings in RBC Bearings by 416.7% during the 3rd quarter. UMB Bank n.a. now owns 93 shares of the industrial products company’s stock worth $28,000 after buying an additional 75 shares during the last quarter. R Squared Ltd acquired a new stake in shares of RBC Bearings during the 4th quarter valued at approximately $30,000. Harbor Investment Advisory LLC bought a new position in RBC Bearings during the fourth quarter worth $82,000. Blue Trust Inc. boosted its holdings in RBC Bearings by 541.9% in the third quarter. Blue Trust Inc. now owns 276 shares of the industrial products company’s stock worth $83,000 after purchasing an additional 233 shares during the period. Finally, Quarry LP increased its stake in RBC Bearings by 1,003.7% during the third quarter. Quarry LP now owns 298 shares of the industrial products company’s stock valued at $89,000 after purchasing an additional 271 shares during the last quarter.

RBC Bearings Trading Up 8.2 %

Shares of NYSE RBC opened at $348.34 on Monday. The business has a fifty day simple moving average of $316.93 and a 200-day simple moving average of $301.27. The company has a market cap of $10.94 billion, a price-to-earnings ratio of 47.85, a P/E/G ratio of 4.81 and a beta of 1.58. RBC Bearings Incorporated has a 12 month low of $240.36 and a 12 month high of $364.96. The company has a quick ratio of 1.18, a current ratio of 3.43 and a debt-to-equity ratio of 0.34.

RBC Bearings (NYSE:RBC) last posted its quarterly earnings data 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). The firm had revenue of $397.90 million for the quarter, compared to analysts’ expectations of $403.89 million. RBC Bearings had a return on equity of 10.06% and a net margin of 14.59%. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.07 earnings per share. Sell-side analysts predict that RBC Bearings Incorporated will post 8.91 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Truist Financial raised their price target on shares of RBC Bearings from $347.00 to $351.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Bank of America cut shares of RBC Bearings from a “buy” rating to a “neutral” rating and raised their target price for the stock from $330.00 to $335.00 in a report on Thursday, November 21st. William Blair reiterated an “outperform” rating on shares of RBC Bearings in a research report on Tuesday, November 26th. Finally, KeyCorp boosted their price objective on RBC Bearings from $375.00 to $395.00 and gave the company an “overweight” rating in a research report on Monday. Four 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of $328.67.

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.