Everpar Advisors LLC Invests $383,000 in RBC Bearings Incorporated (NYSE:RBC)

Everpar Advisors LLC acquired a new position in shares of RBC Bearings Incorporated (NYSE:RBC) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,346 shares of the industrial products company’s stock, valued at approximately $383,000.

Several other hedge funds also recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its holdings in shares of RBC Bearings by 2.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 283,721 shares of the industrial products company’s stock worth $80,829,000 after buying an additional 5,881 shares in the last quarter. Lisanti Capital Growth LLC increased its holdings in shares of RBC Bearings by 89.2% during the fourth quarter. Lisanti Capital Growth LLC now owns 14,385 shares of the industrial products company’s stock worth $4,098,000 after buying an additional 6,780 shares in the last quarter. Apollon Wealth Management LLC acquired a new stake in shares of RBC Bearings during the fourth quarter worth approximately $585,000. Private Advisor Group LLC increased its holdings in shares of RBC Bearings by 27.6% during the fourth quarter. Private Advisor Group LLC now owns 1,252 shares of the industrial products company’s stock worth $357,000 after buying an additional 271 shares in the last quarter. Finally, Sheets Smith Wealth Management increased its holdings in shares of RBC Bearings by 10.7% during the fourth quarter. Sheets Smith Wealth Management now owns 2,016 shares of the industrial products company’s stock worth $574,000 after buying an additional 195 shares in the last quarter.

RBC Bearings Stock Up 1.1 %

RBC stock traded up $2.82 during mid-day trading on Wednesday, hitting $264.36. 179,498 shares of the company were exchanged, compared to its average volume of 127,617. The firm has a market cap of $7.45 billion, a P/E ratio of 44.21, a P/E/G ratio of 4.76 and a beta of 1.46. RBC Bearings Incorporated has a 1-year low of $195.18 and a 1-year high of $288.16. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.12 and a current ratio of 3.28. The firm’s 50 day simple moving average is $259.96 and its 200 day simple moving average is $259.67.

RBC Bearings (NYSE:RBC) last posted its quarterly earnings data on Thursday, February 8th. The industrial products company reported $1.75 EPS for the quarter, missing the consensus estimate of $1.83 by ($0.08). RBC Bearings had a net margin of 12.81% and a return on equity of 9.64%. The company had revenue of $373.91 million during the quarter, compared to the consensus estimate of $376.61 million. On average, sell-side analysts predict that RBC Bearings Incorporated will post 8.02 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on RBC shares. Truist Financial raised their price target on shares of RBC Bearings from $271.00 to $309.00 and gave the company a “buy” rating in a report on Wednesday, January 10th. Citigroup raised their price target on shares of RBC Bearings from $250.00 to $285.00 and gave the company a “neutral” rating in a report on Monday, February 12th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $275.86.

Insider Buying and Selling

In other RBC Bearings news, COO Daniel A. Bergeron sold 15,000 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $267.22, for a total value of $4,008,300.00. Following the completion of the sale, the chief operating officer now owns 121,935 shares in the company, valued at $32,583,470.70. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.90% of the stock is owned by corporate insiders.

About RBC Bearings

RBC Bearings Incorporated manufactures and markets engineered precision bearings and components 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.