Stifel Financial Corp Has $13.91 Million Stock Position in RBC Bearings Incorporated (NYSE:RBC)

Stifel Financial Corp cut its stake in shares of RBC Bearings Incorporated (NYSE:RBC) by 0.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 46,454 shares of the industrial products company’s stock after selling 53 shares during the quarter. Stifel Financial Corp’s holdings in RBC Bearings were worth $13,907,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. TimesSquare Capital Management LLC raised its stake in shares of RBC Bearings by 17.3% during the 3rd quarter. TimesSquare Capital Management LLC now owns 90,605 shares of the industrial products company’s stock worth $27,125,000 after purchasing an additional 13,395 shares in the last quarter. Segall Bryant & Hamill LLC increased its holdings in RBC Bearings by 41.6% during the third quarter. Segall Bryant & Hamill LLC now owns 29,715 shares of the industrial products company’s stock worth $8,896,000 after buying an additional 8,725 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in RBC Bearings during the second quarter worth $2,380,000. Citigroup Inc. lifted its stake in RBC Bearings by 7.0% in the third quarter. Citigroup Inc. now owns 27,157 shares of the industrial products company’s stock valued at $8,130,000 after acquiring an additional 1,770 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of RBC Bearings in the 3rd quarter valued at about $3,133,000.

RBC Bearings Stock Performance

RBC opened at $332.63 on Wednesday. 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 company has a market capitalization of $10.45 billion, a PE ratio of 48.56, a price-to-earnings-growth ratio of 4.60 and a beta of 1.55. The business has a fifty day simple moving average of $307.31 and a 200 day simple moving average of $293.27. RBC Bearings Incorporated has a 1 year low of $240.36 and a 1 year high of $346.77.

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

Insider Transactions at RBC Bearings

In other news, CEO Michael J. Hartnett sold 11,341 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $287.52, for a total transaction of $3,260,764.32. Following the sale, the chief executive officer now directly owns 320,053 shares of the company’s stock, valued at approximately $92,021,638.56. This represents a 3.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders have sold 31,127 shares of company stock valued at $8,987,017. 2.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

RBC Bearings Company 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.