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

Mutual of America Capital Management LLC increased its position in shares of RBC Bearings Incorporated (NYSE:RBC) by 4.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,129 shares of the industrial products company’s stock after purchasing an additional 1,562 shares during the period. Mutual of America Capital Management LLC owned 0.12% of RBC Bearings worth $14,491,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Advisors Asset Management Inc. purchased a new stake in RBC Bearings during the 1st quarter valued at approximately $26,000. Root Financial Partners LLC purchased a new position in shares of RBC Bearings during the third quarter valued at about $36,000. Hantz Financial Services Inc. increased its holdings in shares of 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 worth $37,000 after purchasing an additional 88 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in 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 RBC Bearings during the 3rd quarter valued at approximately $38,000.

Insider Activity

In other news, Director Steven H. Kaplan sold 700 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $443.00, for a total transaction of $310,100.00. Following the transaction, the director directly owned 1,999 shares of the company’s stock, valued at approximately $885,557. This trade represents a 25.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on RBC. Deutsche Bank Aktiengesellschaft set a $527.00 target price on shares of RBC Bearings and gave the company a “buy” rating in a report on Wednesday, December 17th. KeyCorp lifted their price objective on shares of RBC Bearings from $475.00 to $535.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 6th. Zacks Research downgraded shares of RBC Bearings from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of RBC Bearings in a report on Monday, December 22nd. Finally, Truist Financial set a $542.00 price target on RBC Bearings in a research report on Friday, January 9th. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $489.17.

RBC Bearings Trading Down 0.3%

Shares of RBC opened at $503.52 on Monday. The company’s fifty day simple moving average is $459.21 and its 200-day simple moving average is $417.36. The company has a market cap of $15.92 billion, a P/E ratio of 61.48, a P/E/G ratio of 3.36 and a beta of 1.53. The company has a current ratio of 3.18, a quick ratio of 1.13 and a debt-to-equity ratio of 0.34. RBC Bearings Incorporated has a twelve month low of $297.28 and a twelve month high of $511.40.

RBC Bearings (NYSE:RBC) last issued its quarterly earnings results on Friday, October 31st. The industrial products company reported $2.88 EPS for the quarter, beating the consensus estimate 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 net margin of 15.03% and a return on equity of 10.47%. The firm’s revenue was up 14.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.29 EPS. As a group, 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.