Mutual of America Capital Management LLC Acquires 1,562 Shares of RBC Bearings Incorporated $RBC

Mutual of America Capital Management LLC boosted its stake in shares of RBC Bearings Incorporated (NYSE:RBC) by 4.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,129 shares of the industrial products company’s stock after buying an additional 1,562 shares during the period. Mutual of America Capital Management LLC’s holdings in RBC Bearings were worth $14,491,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Advisors Asset Management Inc. purchased a new stake in shares of RBC Bearings during the 1st quarter worth $26,000. Root Financial Partners LLC purchased a new position in RBC Bearings in the third quarter valued at about $36,000. Hantz Financial Services Inc. grew its stake in RBC Bearings by 1,257.1% in the second quarter. Hantz Financial Services Inc. now owns 95 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 88 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of RBC Bearings by 123.3% during the second quarter. EverSource Wealth Advisors LLC now owns 96 shares of the industrial products company’s stock valued at $37,000 after buying an additional 53 shares during the last quarter. Finally, Quent Capital LLC purchased a new position in shares of RBC Bearings in the 3rd quarter worth approximately $38,000.

Insider Buying and Selling at RBC Bearings

In related news, Director Steven H. Kaplan sold 700 shares of RBC Bearings stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $443.00, for a total value of $310,100.00. Following the completion of the sale, the director owned 1,999 shares in the company, valued at approximately $885,557. This trade represents a 25.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Truist Financial set a $542.00 target price on shares of RBC Bearings in a research note on Friday, January 9th. Zacks Research cut RBC Bearings from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Deutsche Bank Aktiengesellschaft set a $527.00 target price on RBC Bearings and gave the stock a “buy” rating in a research note on Wednesday, December 17th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of RBC Bearings in a report on Monday, December 22nd. Finally, Bank of America upgraded RBC Bearings from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $390.00 to $500.00 in a research report on Thursday, November 6th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, RBC Bearings currently has an average rating of “Moderate Buy” and an average price target of $489.17.

RBC Bearings Trading Down 0.3%

RBC opened at $503.52 on Monday. The stock has a market capitalization of $15.92 billion, a PE ratio of 61.48, a P/E/G ratio of 3.36 and a beta of 1.53. RBC Bearings Incorporated has a one year low of $297.28 and a one year high of $511.40. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.13 and a current ratio of 3.18. The business’s 50 day moving average price is $459.21 and its 200 day moving average price is $417.36.

RBC Bearings (NYSE:RBC) last posted its earnings results on Friday, October 31st. The industrial products company reported $2.88 EPS for the quarter, beating analysts’ consensus estimates of $2.73 by $0.15. The company had revenue of $455.30 million for the quarter, compared to the consensus estimate of $450.27 million. RBC Bearings had a return on equity of 10.47% and a net margin of 15.03%.The company’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.29 earnings per share. As a group, equities research analysts expect that RBC Bearings Incorporated will post 9.16 EPS for the current year.

RBC Bearings Company Profile

RBC Bearings Incorporated is a global designer, manufacturer and marketer of highly engineered precision bearings and components for extreme applications. The company’s product portfolio includes cylindrical roller bearings, spherical plain bearings, ball bearings, track rollers, and engineered components such as metal-to-metal and polymer bearings. These products are tailored to meet the demanding requirements of aerospace, defense and industrial customers where reliability under severe conditions is critical.

The company’s bearings and components find application in aircraft engines, auxiliary power units, landing gear systems, space and missile programs, industrial gas turbines, oil and gas drilling equipment, and heavy machinery.