American Capital Management Inc. Has $95.29 Million Position in RBC Bearings Incorporated $RBC

American Capital Management Inc. cut its stake in shares of RBC Bearings Incorporated (NYSE:RBC) by 18.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 175,443 shares of the industrial products company’s stock after selling 38,674 shares during the quarter. RBC Bearings accounts for 5.1% of American Capital Management Inc.’s portfolio, making the stock its 3rd largest holding. American Capital Management Inc.’s holdings in RBC Bearings were worth $95,287,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Advisors Asset Management Inc. purchased a new position in RBC Bearings in the 1st quarter worth about $26,000. AQR Capital Management LLC lifted its stake in RBC Bearings by 27.8% during the first quarter. AQR Capital Management LLC now owns 1,297 shares of the industrial products company’s stock valued at $417,000 after buying an additional 282 shares in the last quarter. Integrated Wealth Concepts LLC boosted its holdings in shares of RBC Bearings by 32.7% in the first quarter. Integrated Wealth Concepts LLC now owns 1,229 shares of the industrial products company’s stock worth $395,000 after buying an additional 303 shares during the period. Jones Financial Companies Lllp boosted its holdings in shares of RBC Bearings by 64.1% in the first quarter. Jones Financial Companies Lllp now owns 1,111 shares of the industrial products company’s stock worth $357,000 after buying an additional 434 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in shares of RBC Bearings by 2.0% in the first quarter. Goldman Sachs Group Inc. now owns 211,744 shares of the industrial products company’s stock worth $68,133,000 after acquiring an additional 4,253 shares in the last quarter.

Insider Buying and Selling

In other RBC Bearings news, Director Dolores J. Ennico sold 600 shares of the company’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $636.11, for a total transaction of $381,666.00. Following the completion of the sale, the director directly owned 7,254 shares in the company, valued at $4,614,341.94. This represents a 7.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Edward Stewart sold 600 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $592.83, for a total value of $355,698.00. Following the sale, the director owned 21,337 shares of the company’s stock, valued at approximately $12,649,213.71. The trade was a 2.74% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 1,425 shares of company stock valued at $885,400. Company insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

RBC has been the subject of a number of recent analyst reports. Weiss Ratings raised shares of RBC Bearings from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, July 15th. Wall Street Zen lowered RBC Bearings from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Truist Financial reiterated a “buy” rating and set a $615.00 price target (up from $599.00) on shares of RBC Bearings in a report on Tuesday, May 19th. Morgan Stanley upped their price target on 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 downgraded RBC Bearings from a “strong-buy” rating to a “hold” rating in a research note 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $584.00.

RBC Bearings Trading Down 1.6%

Shares of NYSE:RBC opened at $585.62 on Tuesday. The company has a current ratio of 2.18, a quick ratio of 0.78 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $18.53 billion, a PE ratio of 64.42, a P/E/G ratio of 3.39 and a beta of 1.40. RBC Bearings Incorporated has a 1 year low of $364.50 and a 1 year high of $667.69. The firm has a fifty day moving average price of $598.02 and a 200 day moving average price of $568.81.

RBC Bearings (NYSE:RBC) last announced its quarterly earnings results on Friday, May 15th. The industrial products company reported $3.62 EPS for the quarter, beating the consensus estimate of $3.31 by $0.31. RBC Bearings had a return on equity of 11.35% and a net margin of 15.37%.The company had revenue of $518.00 million for the quarter, compared to the consensus estimate of $505.90 million. During the same quarter last year, the company posted $2.83 earnings per share. The company’s revenue for the quarter was up 18.3% compared to the same quarter last year. Analysts expect that RBC Bearings Incorporated will post 13.66 EPS for the current fiscal year.

RBC Bearings 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.