Segall Bryant & Hamill LLC Reduces Stock Position in RBC Bearings Incorporated $RBC

Segall Bryant & Hamill LLC reduced its position in shares of RBC Bearings Incorporated (NYSE:RBC) by 3.5% in the first quarter, HoldingsChannel.com reports. The firm owned 97,826 shares of the industrial products company’s stock after selling 3,561 shares during the period. RBC Bearings comprises 0.7% of Segall Bryant & Hamill LLC’s investment portfolio, making the stock its 16th largest position. Segall Bryant & Hamill LLC’s holdings in RBC Bearings were worth $53,131,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Norges Bank purchased a new position in RBC Bearings during the 4th quarter valued at about $175,909,000. Northwestern Mutual Wealth Management Co. lifted its holdings in RBC Bearings by 39,846.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 185,749 shares of the industrial products company’s stock worth $83,295,000 after buying an additional 185,284 shares during the period. Cartenna Capital LP purchased a new stake in RBC Bearings in the 4th quarter worth approximately $76,233,000. Invesco Ltd. grew its position in shares of RBC Bearings by 60.5% in the 3rd quarter. Invesco Ltd. now owns 381,161 shares of the industrial products company’s stock worth $148,763,000 after buying an additional 143,710 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in shares of RBC Bearings by 2,055.5% in the 4th quarter. AQR Capital Management LLC now owns 144,741 shares of the industrial products company’s stock worth $64,906,000 after buying an additional 138,026 shares during the last quarter.

RBC Bearings Stock Performance

RBC Bearings stock opened at $552.76 on Friday. RBC Bearings Incorporated has a fifty-two week low of $364.50 and a fifty-two week high of $667.69. The stock’s 50 day simple moving average is $597.68 and its two-hundred day simple moving average is $570.46. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.78 and a current ratio of 2.18. The stock has a market cap of $17.50 billion, a price-to-earnings ratio of 60.81, a PEG ratio of 3.20 and a beta of 1.40.

RBC Bearings (NYSE:RBC) last announced its earnings results on Friday, July 31st. The industrial products company reported $3.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.42 by $0.46. The firm had revenue of $519.50 million during the quarter, compared to analyst estimates of $508.92 million. RBC Bearings had a return on equity of 11.35% and a net margin of 15.37%.The business’s revenue was up 19.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.84 EPS. As a group, analysts expect that RBC Bearings Incorporated will post 13.66 earnings per share for the current fiscal year.

Analyst Ratings Changes

RBC has been the topic of several research analyst reports. Wall Street Zen cut RBC Bearings from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. Truist Financial reaffirmed a “buy” rating and issued a $615.00 price target (up from $599.00) on shares of RBC Bearings in a research note on Tuesday, May 19th. Weiss Ratings cut shares of RBC Bearings from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday. Morgan Stanley boosted their price objective on shares of RBC Bearings from $600.00 to $640.00 and gave the company an “overweight” rating in a research report on Tuesday, May 19th. Finally, Zacks Research lowered 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 company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $584.00.

Insider Activity at RBC Bearings

In related news, Director Dolores J. Ennico sold 600 shares of the company’s stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $636.11, for a total value of $381,666.00. Following the sale, the director directly owned 7,254 shares of the company’s stock, valued at $4,614,341.94. This represents a 7.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP John J. Feeney sold 225 shares of the stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $657.94, for a total value of $148,036.50. Following the completion of the transaction, the vice president owned 2,378 shares of the company’s stock, valued at approximately $1,564,581.32. This trade represents a 8.64% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 1,425 shares of company stock worth $885,400 over the last ninety days. 1.90% of the stock is owned by corporate insiders.

About RBC Bearings

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.