Maren Capital LLC Has $201.93 Million Stake in RBC Bearings Incorporated $RBC

Maren Capital LLC raised its holdings in shares of RBC Bearings Incorporated (NYSE:RBC) by 1.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 450,314 shares of the industrial products company’s stock after purchasing an additional 6,373 shares during the quarter. RBC Bearings accounts for approximately 10.9% of Maren Capital LLC’s portfolio, making the stock its 2nd largest position. Maren Capital LLC’s holdings in RBC Bearings were worth $201,934,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of RBC. State Street Corp boosted its holdings in RBC Bearings by 0.5% during the 3rd quarter. State Street Corp now owns 919,259 shares of the industrial products company’s stock worth $358,778,000 after acquiring an additional 4,568 shares during the last quarter. Artisan Partners Limited Partnership boosted its holdings in RBC Bearings by 51.7% during the 3rd quarter. Artisan Partners Limited Partnership now owns 619,592 shares of the industrial products company’s stock worth $241,821,000 after acquiring an additional 211,093 shares during the last quarter. Geode Capital Management LLC boosted its holdings in RBC Bearings by 8.5% during the 4th quarter. Geode Capital Management LLC now owns 619,314 shares of the industrial products company’s stock worth $277,776,000 after acquiring an additional 48,419 shares during the last quarter. Norges Bank purchased a new position in RBC Bearings during the 4th quarter worth $175,909,000. Finally, Invesco Ltd. boosted its holdings in RBC Bearings by 60.5% during the 3rd quarter. Invesco Ltd. now owns 381,161 shares of the industrial products company’s stock worth $148,763,000 after acquiring an additional 143,710 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Weiss Ratings raised shares of RBC Bearings from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, May 19th. Morgan Stanley lifted their price objective on shares of RBC Bearings from $600.00 to $640.00 and gave the stock an “overweight” rating in a report on Tuesday, May 19th. Truist Financial reaffirmed a “buy” rating and set a $615.00 price objective (up from $599.00) on shares of RBC Bearings in a report on Tuesday, May 19th. KeyCorp lifted their price objective on shares of RBC Bearings from $595.00 to $680.00 and gave the stock an “overweight” rating in a report on Monday, March 2nd. Finally, Zacks Research downgraded shares of RBC Bearings from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 3rd. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, RBC Bearings presently has an average rating of “Moderate Buy” and a consensus price target of $584.00.

Insider Activity at RBC Bearings

In other news, Director Edward Stewart sold 600 shares of RBC Bearings stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $592.83, for a total transaction of $355,698.00. Following the sale, the director directly owned 21,337 shares in the company, valued at $12,649,213.71. The trade was a 2.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.90% of the stock is owned by insiders.

RBC Bearings Trading Down 0.1%

NYSE RBC opened at $603.22 on Monday. The stock has a market capitalization of $19.09 billion, a price-to-earnings ratio of 66.36, a PEG ratio of 3.49 and a beta of 1.42. RBC Bearings Incorporated has a one year low of $363.05 and a one year high of $632.00. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.18 and a quick ratio of 0.78. The business’s fifty day moving average is $586.12 and its 200-day moving average is $534.33.

RBC Bearings (NYSE:RBC) last released its earnings results on Friday, May 15th. The industrial products company reported $3.62 EPS for the quarter, topping analysts’ consensus estimates of $3.31 by $0.31. The company had revenue of $518.00 million for the quarter, compared to analysts’ expectations of $505.90 million. RBC Bearings had a return on equity of 11.35% and a net margin of 15.37%.The business’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same period in the previous year, the business posted $2.83 EPS. Equities research analysts predict that RBC Bearings Incorporated will post 13.58 EPS for the current year.

RBC Bearings 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.