Machina Capital S.A.S. Takes $352,000 Position in RBC Bearings Incorporated $RBC

Machina Capital S.A.S. acquired a new stake in shares of RBC Bearings Incorporated (NYSE:RBC) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 915 shares of the industrial products company’s stock, valued at approximately $352,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Intellectus Partners LLC bought a new position in shares of RBC Bearings during the second quarter valued at about $204,000. Geneva Capital Management LLC increased its position in shares of RBC Bearings by 7.4% during the second quarter. Geneva Capital Management LLC now owns 633,230 shares of the industrial products company’s stock valued at $243,667,000 after buying an additional 43,812 shares during the period. Amalgamated Bank increased its position in shares of RBC Bearings by 1.3% during the second quarter. Amalgamated Bank now owns 14,434 shares of the industrial products company’s stock valued at $5,554,000 after buying an additional 186 shares during the period. Retirement Systems of Alabama increased its position in shares of RBC Bearings by 28.7% during the second quarter. Retirement Systems of Alabama now owns 53,551 shares of the industrial products company’s stock valued at $20,606,000 after buying an additional 11,951 shares during the period. Finally, Keybank National Association OH purchased a new position in shares of RBC Bearings during the second quarter valued at about $229,000.

Analyst Upgrades and Downgrades

RBC has been the topic of several research analyst reports. KeyCorp boosted their price target on shares of RBC Bearings from $405.00 to $450.00 and gave the company an “overweight” rating in a research report on Tuesday, July 15th. Truist Financial reiterated a “buy” rating and set a $471.00 price target (up previously from $455.00) on shares of RBC Bearings in a research report on Monday. Deutsche Bank Aktiengesellschaft set a $503.00 price target on shares of RBC Bearings and gave the company a “buy” rating in a research report on Wednesday, October 8th. The Goldman Sachs Group boosted their price target on shares of RBC Bearings from $375.00 to $416.00 and gave the company a “neutral” rating in a research report on Tuesday, July 8th. Finally, Zacks Research lowered shares of RBC Bearings from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $431.67.

Insider Activity at RBC Bearings

In other news, COO Daniel A. Bergeron sold 48,743 shares of the company’s stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $402.75, for a total value of $19,631,243.25. Following the transaction, the chief operating officer owned 111,134 shares in the company, valued at approximately $44,759,218.50. This represents a 30.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP John J. Feeney sold 105 shares of the company’s stock in a transaction that occurred on Friday, September 26th. The stock was sold at an average price of $382.83, for a total transaction of $40,197.15. Following the completion of the transaction, the vice president owned 2,666 shares in the company, valued at approximately $1,020,624.78. This represents a 3.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.90% of the company’s stock.

RBC Bearings Trading Down 0.4%

NYSE:RBC opened at $426.89 on Wednesday. RBC Bearings Incorporated has a one year low of $283.47 and a one year high of $432.89. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.33 and a quick ratio of 1.33. The company’s 50-day simple moving average is $388.48 and its 200 day simple moving average is $379.72. The firm has a market capitalization of $13.47 billion, a P/E ratio of 53.76, a PEG ratio of 3.16 and a beta of 1.71.

RBC Bearings (NYSE:RBC) last posted its quarterly earnings data on Monday, August 15th. The industrial products company reported $1.22 EPS for the quarter. The business had revenue of $156.21 million for the quarter. RBC Bearings had a net margin of 15.20% and a return on equity of 10.14%. As a group, analysts forecast that RBC Bearings Incorporated will post 9.16 EPS for the current fiscal year.

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.