Arcadia Investment Management Corp MI Decreases Stock Holdings in RBC Bearings Incorporated (NYSE:RBC)

Arcadia Investment Management Corp MI reduced its stake in shares of RBC Bearings Incorporated (NYSE:RBC) by 14.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 999 shares of the industrial products company’s stock after selling 165 shares during the quarter. Arcadia Investment Management Corp MI’s holdings in RBC Bearings were worth $299,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Legacy Advisors LLC lifted its stake in shares of RBC Bearings by 1.4% during the 2nd quarter. Legacy Advisors LLC now owns 4,534 shares of the industrial products company’s stock worth $1,223,000 after purchasing an additional 61 shares during the last quarter. UMB Bank n.a. lifted its stake in shares of RBC Bearings by 416.7% during the 3rd quarter. UMB Bank n.a. now owns 93 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 75 shares during the last quarter. GAMMA Investing LLC raised its stake in RBC Bearings by 23.2% in the third quarter. GAMMA Investing LLC now owns 440 shares of the industrial products company’s stock valued at $132,000 after buying an additional 83 shares during the last quarter. RiverPark Advisors LLC raised its stake in RBC Bearings by 9.6% in the second quarter. RiverPark Advisors LLC now owns 993 shares of the industrial products company’s stock valued at $268,000 after buying an additional 87 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its stake in RBC Bearings by 80.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 290 shares of the industrial products company’s stock valued at $78,000 after buying an additional 129 shares during the last quarter.

RBC Bearings Stock Up 1.8 %

Shares of RBC stock opened at $285.30 on Friday. The stock’s 50-day simple moving average is $289.89 and its 200-day simple moving average is $281.12. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.09 and a current ratio of 3.01. The firm has a market capitalization of $8.34 billion, a PE ratio of 41.65, a P/E/G ratio of 3.21 and a beta of 1.51. RBC Bearings Incorporated has a fifty-two week low of $214.64 and a fifty-two week high of $309.01.

RBC Bearings (NYSE:RBC) last announced its quarterly earnings data on Friday, November 1st. The industrial products company reported $2.29 earnings per share for the quarter, beating analysts’ consensus estimates of $2.10 by $0.19. The business had revenue of $397.90 million for the quarter, compared to analyst estimates of $403.89 million. RBC Bearings had a return on equity of 10.04% and a net margin of 14.01%. The company’s revenue was up 3.2% on a year-over-year basis. During the same period in the prior year, the company earned $2.07 earnings per share. Equities analysts expect that RBC Bearings Incorporated will post 8.95 earnings per share for the current year.

Insider Activity

In other news, CEO Michael J. Hartnett sold 3,000 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $284.23, for a total value of $852,690.00. Following the transaction, the chief executive officer now directly owns 294,120 shares of the company’s stock, valued at approximately $83,597,727.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Michael J. Hartnett sold 19,283 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $289.42, for a total transaction of $5,580,885.86. Following the sale, the chief executive officer now directly owns 317,814 shares of the company’s stock, valued at $91,981,727.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael J. Hartnett sold 3,000 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $284.23, for a total value of $852,690.00. Following the sale, the chief executive officer now directly owns 294,120 shares in the company, valued at approximately $83,597,727.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,327 shares of company stock valued at $11,900,641. Company insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Truist Financial decreased their price target on RBC Bearings from $328.00 to $315.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, RBC Bearings presently has a consensus rating of “Moderate Buy” and a consensus target price of $287.67.

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.