New England Research & Management Inc. Acquires New Stake in RBC Bearings Incorporated $RBC

New England Research & Management Inc. acquired a new position in RBC Bearings Incorporated (NYSE:RBC) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 2,800 shares of the industrial products company’s stock, valued at approximately $1,093,000.

Other large investors have also bought and sold shares of the company. Artisan Partners Limited Partnership bought a new position in shares of RBC Bearings during the 2nd quarter valued at about $157,190,000. Norges Bank bought a new stake in shares of RBC Bearings during the 2nd quarter worth $137,078,000. Frontier Capital Management Co. LLC acquired a new position in shares of RBC Bearings in the 2nd quarter worth $39,818,000. Nuveen LLC acquired a new stake in shares of RBC Bearings during the first quarter worth $20,847,000. Finally, Greenhouse Funds LLLP lifted its holdings in shares of RBC Bearings by 28.0% during the second quarter. Greenhouse Funds LLLP now owns 227,434 shares of the industrial products company’s stock valued at $87,517,000 after purchasing an additional 49,773 shares during the last quarter.

Insiders Place Their Bets

In other RBC Bearings news, VP John J. Feeney sold 105 shares of the stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $382.83, for a total transaction of $40,197.15. Following the completion of the sale, the vice president directly owned 2,666 shares in the company, valued at approximately $1,020,624.78. This trade represents a 3.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Steven H. Kaplan sold 700 shares of the business’s stock in a transaction dated 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 transaction, the director directly owned 1,999 shares in the company, valued at $885,557. This represents a 25.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 1.90% of the company’s stock.

RBC Bearings Trading Up 0.5%

RBC opened at $462.59 on Tuesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.18 and a quick ratio of 1.13. RBC Bearings Incorporated has a fifty-two week low of $290.56 and a fifty-two week high of $465.80. The company’s 50 day moving average price is $421.18 and its two-hundred day moving average price is $398.16. The firm has a market capitalization of $14.62 billion, a price-to-earnings ratio of 56.48, a PEG ratio of 3.21 and a beta of 1.53.

RBC Bearings (NYSE:RBC) last issued its quarterly earnings results on Monday, August 15th. The industrial products company reported $1.22 EPS for the quarter. The company had revenue of $156.21 million for the quarter. RBC Bearings had a net margin of 15.03% and a return on equity of 10.47%. As a group, research analysts predict that RBC Bearings Incorporated will post 9.16 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have commented on RBC. Bank of America raised shares of RBC Bearings from a “neutral” rating to a “buy” rating and upped their price objective for the company from $390.00 to $500.00 in a research note on Thursday, November 6th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of RBC Bearings in a research note on Monday, December 8th. Deutsche Bank Aktiengesellschaft set a $503.00 price target on RBC Bearings and gave the company a “buy” rating in a report on Wednesday, October 8th. Zacks Research lowered RBC Bearings from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Finally, Truist Financial reaffirmed a “buy” rating and set a $471.00 target price (up previously from $455.00) on shares of RBC Bearings in a research note on Monday, November 3rd. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, RBC Bearings has an average rating of “Moderate Buy” and a consensus price target of $459.17.

RBC Bearings Company Profile

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