Yousif Capital Management LLC Has $3.47 Million Stock Holdings in RBC Bearings Incorporated (NYSE:RBC)

Yousif Capital Management LLC lessened its holdings in RBC Bearings Incorporated (NYSE:RBC) by 2.1% during the first quarter, HoldingsChannel reports. The firm owned 10,791 shares of the industrial products company’s stock after selling 226 shares during the quarter. Yousif Capital Management LLC’s holdings in RBC Bearings were worth $3,472,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Deutsche Bank AG boosted its holdings in shares of RBC Bearings by 2.9% in the 4th quarter. Deutsche Bank AG now owns 1,768 shares of the industrial products company’s stock valued at $529,000 after purchasing an additional 49 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of RBC Bearings by 0.6% in the 4th quarter. Bank of New York Mellon Corp now owns 199,174 shares of the industrial products company’s stock valued at $59,581,000 after purchasing an additional 1,103 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of RBC Bearings by 39.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 222,430 shares of the industrial products company’s stock valued at $66,247,000 after purchasing an additional 62,706 shares in the last quarter. Callan Family Office LLC boosted its holdings in shares of RBC Bearings by 251.7% in the 4th quarter. Callan Family Office LLC now owns 2,416 shares of the industrial products company’s stock valued at $723,000 after purchasing an additional 1,729 shares in the last quarter. Finally, Advantage Alpha Capital Partners LP boosted its holdings in shares of RBC Bearings by 35.3% in the 4th quarter. Advantage Alpha Capital Partners LP now owns 18,514 shares of the industrial products company’s stock valued at $5,545,000 after purchasing an additional 4,835 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Truist Financial raised their target price on RBC Bearings from $405.00 to $431.00 and gave the company a “buy” rating in a report on Thursday. Morgan Stanley reaffirmed an “overweight” rating and issued a $415.00 target price (up previously from $390.00) on shares of RBC Bearings in a report on Tuesday, May 20th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $394.00.

RBC Bearings Stock Down 1.1%

Shares of RBC opened at $371.48 on Friday. RBC Bearings Incorporated has a 52 week low of $260.53 and a 52 week high of $386.41. The stock has a market capitalization of $11.67 billion, a price-to-earnings ratio of 51.03, a PEG ratio of 4.42 and a beta of 1.66. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.18 and a current ratio of 3.43. The stock has a fifty day moving average of $349.04 and a 200-day moving average of $337.58.

RBC Bearings (NYSE:RBC) last announced its quarterly earnings results on Friday, May 16th. The industrial products company reported $2.83 EPS for the quarter, beating analysts’ consensus estimates of $2.70 by $0.13. RBC Bearings had a return on equity of 10.06% and a net margin of 14.59%. The company had revenue of $437.70 million during the quarter, compared to analysts’ expectations of $440.26 million. During the same period in the prior year, the company earned $2.47 EPS. RBC Bearings’s revenue was up 5.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that RBC Bearings Incorporated will post 9.16 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Michael J. Hartnett sold 5,000 shares of the firm’s stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total transaction of $1,875,000.00. Following the completion of the transaction, the chief executive officer now directly owns 311,853 shares of the company’s stock, valued at $116,944,875. This trade represents a 1.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Daniel A. Bergeron sold 3,718 shares of the firm’s stock in a transaction on Friday, June 6th. The stock was sold at an average price of $382.21, for a total value of $1,421,056.78. Following the transaction, the chief operating officer now directly owns 111,134 shares of the company’s stock, valued at approximately $42,476,526.14. This represents a 3.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 67,378 shares of company stock worth $25,625,987. Insiders own 2.60% of the company’s stock.

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.